Marketing Opportunities Women Live Longer Term Paper

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Particularly as this demographic has been so ignored or misunderstood by the beauty industry, a company that portrayed older women in a positive, sexy light, and showcased fashions that flattered older complexions and figures would likely generate revenue. Showing older models rather than stressing that the product is for the elderly is important, because today's older generation does not like to think of itself as old: "Marketers commonly err by emphasizing the biological age of their consumers. A few years ago, a major personal-products company introduced a shampoo aimed at older women. The advertising explicitly mentioned that the product was designed especially for women over 40. There may be perfectly good reasons to switch to a different shampoo as you age, but the emphasis on age ensured that the product would be unpalatable to any self-respecting 40-plus-year-old" (Smith 1997:1).

Again, because women tend to outlive their husbands, many of these women are looking, if not for a second mate, then for companionship of the opposite sex, and wish to appear attractive. They do not necessarily want to look younger, but appearing attractive and desirable, is important to women. For older women who are comfortable online, dating services and online communities specifically targeted to the social as well as physical, emotional, and health needs of older women, particularly widows, is yet another untapped opportunity to address concerns about 'attractiveness' and maintaining a healthy social life.

A further unexplored marketing opportunity is that of banks.

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The sad fact is, as their husbands die, women often become solely responsible for managing their finances, and they are seeking assistance from financial institutions that cater to their needs.

27% of all 50- to 70-year-olds leading households are led single women, and even 90% of married women have sole or joint responsibility for their household's finances. For them, "it's not just about savings accounts and balancing checkbooks. Women are managing long-term care coverage, tax and estate planning and investment portfolios" (Barletta, 2005). Presenting a trustworthy and friendly image, and providing extra help for older women learning to navigate finances that their husbands always handed could be a unique selling opportunity for many banks.

Marketers are obsessed with teens, because they are seen as fickle, with large discretionary incomes, and have a great deal of leisure time on their hands. But older women are similarly undergoing a life transition, often wish to spend some of their savings to enjoy their hard-won retirement, and have more leisure time than working adults. This is why marketers who make the 'first move' and specifically target women of this generation could experience a potential windfall.

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