GREY OCEAN STRATEGY

The demographic earthquake called aging: the huge increase in market potential caused by this force driving change requires all companies to reconsider their current strategies. It leads to the new market majority: mature consumers with different needs than younger people or similar needs but a different way of converting them into wants.

How do we develop successful strategies to exploit the opportunities of aging as a key force driving change?

The psychology of aging is the fundament of a Grey Ocean Strategy. We will describe the major changes that occur emotionally and cognitively when aging, leading to the seven soft spots of aging. Insights from scientific studies on aging will be synthesized and applied to real life to create, spread and realize the right value proposition for the mature consumer.

We then need to understand the consumer decision proces in later life. Because mature consumers have been confronted with quite a number of offers during their lifetime that failed to deliver what they promised. That is why they look for “the real thing”.

To reach the mature consumer, we have to change our marketing paradigms. The traditional marketing paradigms need to be changed into customer based marketing management, based on creating, spreading and realizing an innovative, authentic value proposition for the mature consumer. This textbook clearly describes how to develop a successful Grey Ocean Strategy.

“Life before 50 is nothing but a warm-up.” A Grey Ocean Strategy, based on the Grey Ocean Blueprint, described in the last chapter, will help you to add value to life of the mature consumer and to your own business.

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More info at www.greyoceanstrategy.com

 

Edgar Keehnen (1962) earned his M.B.A. at Erasmus University in Rotterdam, the Netherlands, after studies at Nyenrode Business University and the University of Michigan. In 2000 he founded AgeWise, an agency for concept development, research, consultancy and advertising for the mature consumer.