Aging society segmentation

Abstract

This research article emphasizes on the importance of Generation B (Baby Boomer Generation) Marketing segmentation or Aging Society as this segmentation earned potential and grew increasingly. They had the loyalty to the product and possessed financial security as well as they Could buy products independently. In addition, it is expected that in the next ten years or in 2020 The aging society will increase to seven million people. Hence to make market positioning for these aging-society people, the entrepreneur needs to consider in the following topics: 1) Product attributes-Good product positioning could make profit sustainably, 2) Benefit to Aging society-Learn what he benefits of this group and propose them, 3) Usage occasions-the opportunities to use products and service can urge this aging society for return purchase, 4) Classes of users-Entrepreneurs are required to learn what the preferred activities of this group are, What their attitudes are as well as what their favorite location is in order to market positioning for product and service for this group, 5) Competitors-Entrepreneurs should consider the competitive situation as the aging society is a good target group, there could be several entrepreneurs to get them. The entrepreneur, therefore, should evaluate the competency of its own and its rivals, it needs to learn how to win this aging society. The subjects who were 50-to-65-year-old consumers agreed that friends were important not less than family as friends could fulfill sometime of their lives. People at this age, no matter retired or at work, they have more free time whilst their family Members have lesser time with them. Therefore, people at 50’s start to socialize with their old Friends or do some activities such as doing exercise, making merit, or joining charity activities, etc. People at these ages could open to new societies relatively quickly when they had the similar likeliness and attitudes. Entrepreneurs should be aware the issues that aging society emphasizing on, that is. 1) Family is center, 2) Friends at the same age, 3) Healthcare concern, 4) The use of luxurious products to fulfill personal needs and spending more time to do preferred activities, and 5) Income after retirement, etc.