Market Segmentation

Variation in customer needs is the primary motive for market segmentation. When consumer preferences vary, marketers can design a marketing mix program that is tailored toward the needs of the specific segments that the firm targets. Marketers select one or more segmentation bases (e.g., age and lifestyle) and slice up their prospective customer base according to the chosen criteria. Marketing programs are then developed that are in tune with the particular needs of each of the segments that the company wants to serve.

One demographic trend affecting both developed and developing countries is the aging of the population as life expectancy rises. One Euromonitor study predicted that China alone will have an increase of nearly 90 million people aged65 and above during 2018-2030. Many of these developing countries are lagging behind their developed counterparts in terms of addressing the needs of senior citizens. Many of these countries lack social protection support for the elderly. Many of the over60s tend to be cautious spenders. What do you see as some of the opportunities and challenges targeting the elderly in developing markets for: CocaCola? Apple? Mars? Procter & Gamble?