Merrily Orsini's Strategic Marketing Blog


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Specialty is targeting elder, senior, and mature markets.

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The Pig in the Python

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This entry was posted on 1/24/2007 7:59 AM and is filed under marketing to seniors.

Marketing to those who seek care for others was the topic of several sessions at the Private Duty Homecare Association Annual Leadership Summit. Chuck Underwood spoke about the difference in generations and how they respond to marketing. The Boomers are right now caught in the sandwich generation caring for parents as well as children, and it is a known fact that adult children oftentimes are the ones to seek assistance for their frail parents. Interesting data was presented to support how endless youth is one of the goals of this generation born from 1946 to 1964 and just now entering their 60’s.

 

Also interesting was the work ethic differentiation where the Boomers are the workaholic generation and do not want to retire. The demographics (the pig going through the python phenomena) will cause a strain on all of our systems, not the least of which is in-home care.

The National Institute on Aging predicts that the number of people at least 65 years old will double in the next 25 years to some 72 million people. Today, the fastest growing age group in the U.S. is what demographers call the "oldest old" – people 85 and older – and their numbers are also expected to double in the next 25 years, to about 10 million. The U.S. Census Bureau says that about 70,000 centenarians now live in the U.S., and predicts that by 2040 there will be 580,000. To sum it up, a recent article in the New York Times (Dec 30, 2006) stated, “...never has old age lasted so long or been so costly...”

 

We are just beginning to take stock of where we are in planning for and thinking about realistic ways to provide long term care. The generational differences are just one factor to consider.

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