Product Management Strategies for the Elderly Consumer Market
Keywords:
Strategy, Management, Elderly peopleAbstract
Effective product management for the elderly consumer segment is a significant challenge for businesses today. With the continuously increasing aging population, this consumer market presents an attractive target in terms of potential and purchasing power. This research aims to study appropriate product management strategies for the elderly by considering the specific behaviors, needs, and limitations of this group.
The article will begin by reviewing literature on demographic changes and their impacts on marketing. It will then analyze the distinct behaviors and needs of the elderly in areas such as product design, marketing communications, and distribution channels. Additionally, it will examine the constraints and challenges associated with marketing to this segment.
Finally, the article will present a conceptual framework and strategic recommendations for product management that addresses the needs of the elderly, in terms of product design, pricing, promotion, and distribution channels. These recommendations will be useful for marketers and businesses in developing and managing products that can effectively attract and satisfy elderly consumers
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