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If you are looking for fresh business opportunities, market segmentation strategies help you identify consumer groups that are most likely to buy certain goods and services, affect their spending habits and garner the desired response from your intended audience in the most cost-effective ways.
To effectively pushing largely unexplored market segments such as baby boomers and household single-person small, marketers, Should levels and more about their target consumer characteristics, attitudes, values, behavior, consumer learning and concerns, and be creative in meeting their needs.
Target a market with great growth potential Marketers have followed the baby boomers since they were young. they continue to be a major target, and they are the reason that health and beauty-related industries has seen unprecedented growth over the past decade to address the needs of aging baby boomers, researchers have become increasingly develop products, from the robot domestic helpers and stair-climbing and walking facilities, the stem cells and "replacement body parts" as artificial limbs, while governments to develop infrastructure and financial schemes to help baby boomers be better physically and financially in their twilight years.
But very few commercial considerations are keen to cater to the needs of these consumers because of the impression that their purchasing power is reduced. But remember, unlike their parents, who led impoverished lives after the world wars, baby boomers are generally better educated and more financially independent, and thus have a greater purchasing power.
Let's see how this market can be better served
Those experiencing the "empty nest syndrome" can afford the time to travel, to pursue their favorite hobbies or activities, and learn new skills. This is the potential market for a host of leisure activities that are less physically demanding and more socially engaging, such as specialized travel packages, and art and IT programs.
As they become less physically able and deterioration in health, products and services that can ease their daily needs and improve their health and general well-being will be what they need most. The in food, health and fitness companies can take advantage of the wealth of marketing opportunities available to them by offering products and services, or create programs to fit the needs of middle-aged and senior citizens. For example, restaurants include smaller and healthier meals on their menus, and fitness clubs to design low-impact exercises for them.
An emerging trend is the increasing number of wheelchair-bound people in our midst. All we are becoming physically weaker and less mobile with age, as it happens, we will need certain products and services to improve our quality of life. This is where small businesses come in they can start a revival of old-fashioned services like home delivery services, such as neighborhood supply stores used to provide or meet affordable transport services exclusively for the elderly, to ferry them to places within their residential or hospital.
Be determined to meet the needs
The Population Statistics shows that the proportion of singles and families with one or no children is increasing. This is hardly surprising - in recent years there has been a prevailing trend in many modern societies around the world. Typical reasons to use these social phenomena are our never ending quest for material wealth, which is a very stressful lifestyle with little time and energy outside of work means the rising cost of living, and living-space constraints due to overcrowding .
Besides the increase in the proportion of singles and smaller sized families, other trends such as the increasing number of older people choose to live on their own rather than with their children, and the growing population of foreign workers and students have also attributed the growth of small households.
These trends are important to marketers because they have a huge pool of untapped business opportunities
Households with one or two people do not consume as much food as the larger ones. They prefer to buy food, such as eggs and bread in smaller portions so the food and money are not wasted. Maybe bread and eggs suppliers can work together to half dozen eggs and half a loaf in a single retail package? Such ideas can also help with easing the problems of food shortages and rising food prices!
People associated single person or small households usually do not bother to cook. But eating out is often not only expensive, but unhealthy. Some of my health conscious friends and I avoid eating out as much as possible when we have the impression that hawker food is not only lacking in nutritional value, but contain unhealthy ingredients as well. In addition to work to change consumer perception of the quality of their prepared foods, food vendors might give alternatives that prepacked assortment of uncooked meat fish and vegetables, soup stocks and sauces that can be taken home and turned into food in a jiffy.
Even agencies that offer dating, "friendship", and matchmaking services are on the rise, many people still have inhibitions about using their services. Those who are enterprising enough to offer more creative social network concepts that make it possible for young, young-at-heart and the old, or even parent-and-child groups to interact in more comfortable surroundings in which relationships can gradually nurtured.
Remember ideas that may seem silly or impractical at first could sprout into a thriving business. And though there are always bugbears and risks treading new paths could pay-offs huge!
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