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Q. In the rush for reaching out to the youth and women audiences, would you say that the media has forgotten senior citizens given that it’s a growing strata? Is yes, how can the 60+ be targeted?
A: The 60-plus or GenS (if I may use the term) are not neglected technically as they get benefits as a residual audience. The addressable market for each brand is generally younger demographics but in the process around a 149million audience base is ignored. Even if one ignores the underserved or bottom end of the pyramid, yet 50 million of the top end of the pyramid are ignored, willingly or unwillingly, by marketers. Interestingly, the segment offers significant opportunity for corporates as the 60-plus segment has resources to splurge on various products and services. Decoding their unique needs and wants (which requires empathy) can expand possibilities in an already existing market.
In case of the underserved and the people at the bottom end of the pyramid, innovation can open up consumers for affordable routes to need satisfaction. For this, understanding of the relevant audience’s circumstances of life are very critical and basic human requirements for those who are at the fringes of the economy, could be added to the mainstream of consumption. That’s a tall order in terms of social and economic will of the corporates (apart from politicians) beyond platitudes and tokenism and commit to make tangible difference.