The Age Curve - Final Thoughts and a Opportunity to Win the Book
Posted by: in Your Business
First, I wanted to give you a last thought about The Age Curve by Kenneth Gronbach. As I said yesterday, I don’t concur with everything he says. For example, I think he’s wrong about the oil crisis. He predicts that OPEC will have to “dramatically reduce” the price of oil and keep it there for a while. I sure don’t think that’ll happen, but I’d be happy if it did.
Otherwise, The Age Curve is both informative and pleasing. You can use it in your business, no matter what age group you are marketing to. Gronbach states, if you want to profit from “generational demographics,” you need to determine who are your ideal customers, and match your marketing with the demographic peak of the markeket. Ideally, your best customers are 8-10 years younger than the peak demographic of your market, so your market will age toward your products or services, not away from them.
For example (my example here, not his): If you are selling accessories for classic cars (as we discussed last week), your demographic is baby boomer men. This group is getting bigger, as the biggest group of boomers is coming over the next 10 years. Perfect timing. Think about the group you want to target, understand the demographics of that market, and plan your marketing for success.
For a chance to win a copy of this book, leave a comment to this post. Let me know if you agree with Gronbach, or you don’t, or you just want to react to anything I’ve said in this post or the ones from yesterday and the day before. Any comment is ok. You can comment as many times as you want, as long as each comment is one-of-a-kind. Read more about contest rules on my new THOUGHTS page. Be sure to include your email address (no one but me will see it), so I can email you to let you know you’ve won. (U.S. and Canada only.)
I’ll accept comments/entries until midnight, Thursday, September 4, 2008 (Central Daylight Time).
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