Mature Consumers In The Mature Market

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The Mature Market
The literal definition of a mature market is a market where equilibrium is present and a lack of diversity and innovation is evident. However, the type of mature market which will be referred to throughout this project is one which makes the older generation the target audience in the eyes of marketers. “The mature market consists of older people who exhibit a great deal of variability with respect to the way they look, think and act.” (George P. Moschis, Euehun Lee, Anil Mathur, 1997:284) These older people are called mature consumers. Some terms often associated with this age group include:
 W.O.O.F – Well Off Older Folks
 Retirees
 Younger elders (55-64 year olds)
 Maturities (66-74 year olds)
 O.A.P.’s – Old Age Pensioners
 Seniors/elderly (75-84 year olds)

One common mistake made by marketers is the use of stereotypical profiles of mature consumers. “The image portrayed of senior citizens tends to be rather one – dimensional. They are depicted as sick, sad and stuck looking out the window in pyjamas.” (Maria Ekstrom, 2014: 269) Or they are depicted as eternally youthful, active and wealthy. There appears to be no in between. Research shows that mature consumers dislike these stereotypical views of their market as they’re unrealistic. An example which some mature consumers may not like are assumptions of senior citizens as fragile people who need certain products and services in order to maintain a healthy lifestyle, when perhaps, many of these

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