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News Release from: The Chartered Institute of Marketing | Subject: Mature Insights one-day conference
Edited by the Marketingservicestalk Editorial
Team on 09 October 2007
Conference provides insights into
50-plus market
Local businesses are being invited to find out how they can tap into the lucrative 50-plus market as marketing experts share their insights at a conference to be held in Somerset next month.
The Mature Insights one-day conference is being held at Ston Easton Park, near Bath, on 1 November 2007 The event, supported by The Chartered Institute of Marketing and sponsored by the Spark Network of Creative Agencies, aims to give businesses the knowledge to help them break into the GBP300 billion spent by people aged 50 and over every year in this country
This article was originally published on Marketingservicestalk on 20 Apr 2007 at 8.00am (UK)
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It comes as a new survey carried out amongst West Country advertising and PR executives of all ages shows clear dividing lines have appeared in people's attitudes towards how old 'old' is, what retired people buy, and how the younger generation will differ once they start drawing their pensions.
In particular, the survey revealed a lack of understanding in the younger generation about the types of products and services that older people buy.
Jane Silk is chairman of The Chartered Institute of Marketing Bristol and West Branch and also marketing director of Bristol-based company Mature Marketing, which carried out the survey.
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She said: "The people running the marketing campaigns aimed at older people are invariably 20 or 30 years younger than them and all our research indicates that this can lead to the wrong messages or tone of voice being used.
"Older people feel - at best - patronised by advertising; at worst they feel totally alienated - as though the only things they buy are stair lifts, funeral plan policies and comfy slippers".
The survey revealed younger marketers assumed a large proportion of the 'grey pound' was currently being used to buy these products whilst young marketers, when they get older, envisage spending their money on the latest gadgets, designer clothes, flights, communications services and luxury goods.
Phil Comer, chairman of The Chartered Institute of Marketing South West Region, added: "Despite the widely held perceptions, the 50-plus generation has more disposable income than any other and spends significantly more on luxury items such as holidays abroad and new cars than any other age group.
"These misconceptions can have a huge impact on business - and organisations ignore this market at their peril".
Silk concluded: "With an excellent programme of speakers, we hope the event will open the eyes of many business people and enable them to work more profitably with this specific age group".
Speakers include: Chris Moss, chief executive 118118; Alan Gilmour, marketing director, Heritable Bank; Peter Girling, chairman, Girling Retirement Options; Tim Pile, chief executive, Cogent Elliott; Robert McKinnon, head of marketing and sales, intune, Help the Aged; John Turner, commercial manager, Clarks Village Outlet Centre; Ken Johnston, marketing manager, Warner Breaks.
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