Developing A Man

Developing A M

The scenario that I have selected for this project is IT to seniors. The company specializes in making the lives of senior citizens of over sixty-five years and older easier using technology. In the past twenty years, the world has experienced tremendous change due to technology. Technology has disrupted all industries and made it easier and more convenient to shop, work, bank, and relax among other activities (Noort, Willemsen, Kerkhof, & Verhoeven, 2015). However, for all the touted advantages of technology, Silicon Valley has neglected senior citizens.

Technological advancements such as the smartphone hold plenty of potential for improving one’s life; however, senior citizens miss this potential because the technologies are often too complicated. IT for senior citizens aims to bring the benefits of technology to senior citizens by providing an array of gadgets and software tools that make it easier for old people to communicate, shop, and document their lives among other activities. In the United States of America, the market for smartphones is saturated with almost all adults having a smartphone (Mooij, 2013). However, there is a disparity in how individuals use the smartphone. While young individuals are proficient with using smartphones and use a plethora of applications for communication, information, social media, and entertainment, the same is not true for old people.

One of the products aimed towards making it easier for old people to interact with their smartphones is an application launcher that removes most of the complexity found in the android operating system interface and provides a clean layout with the most essential services. The launcher removes complexity by making the process of searching the internet or making a call only a one-step process. The launcher is just but one product that the company has in the pipeline, intended to help senior citizens benefit from the wave of technological changes. Market research strategies For the successful launch of any product, one of the most essential steps that a company must first engage in is market research.

Market research helps outline the feasibility of the business model and the existence of a niche that a company can fill with innovative products. One of the market research analysis that IT for seniors will use to test new products is a focus group. A focus group helps assess the viability of a product and to iron out kinks in a product by presenting a prototype to a group of individuals (Babin & Zikmund, 2015). To test new products in the pipeline, IT for seniors will gather diverse groups of individuals over the age of sixty-five, present them with the product, and observe as they interact with it. The company factors the information from the focus group into the production and marketing of the product.

Another market research strategy that the company will depend on for market research is surveys. Surveys have a doubled edge advantage because they can yield plenty of useful information while also not breaking the bank. Using Facebook to find a representative sample of individuals, the company will then administer a survey through survey monkey or other tools that allow one to administer a survey over the internet quickly (Stelzner, 2014). An ideal survey from the company would set out to identify whether individuals are interested in the product and what feature they find most useful. The survey would also gauge how much the target market would pay for the products.

Having identified that there is a niche that the company can fill through focus groups and surveys, the company would then conduct an in-depth industry analysis to find out the potential market for the products and the competitors. One of the most useful industry analysis procedures is the PESTEL analysis, which stands for political, economic, social, and technological environment. PESTEL analysis In the United States of America, the political environment is cordial towards companies that aim to improve the lives of people through technology. IT for seniors would find a political environment that is extremely conducive for operation. However, there are several political hurdles that the company must jump over when introducing products that make the process of delivering healthcare to old people easier; the United States of America has strict laws that guard the sharing of health information and quality of health related software and devices.

The company anticipates no changes in the political environment in the United States, however, operation in other nations such as China calls for a reevaluation of the political environment and a new strategy to overcome the political resistance. Currently, the technological environment is very conducive for the company. Operating in the United States of America means that the company has access to an abundance of knowledge, funding and technological innovation necessary to make high quality products that meet the needs of the target market. However, the company has to keep abreast of changes in the technological environment to avoid becoming out of date (Hollensen, 2015). The market targeted by the company consists mostly of retired individuals who depend on pension and savings, such a target market is mostly immune to the economic fluctuations that cause a shrinkage in the number of jobs and reduce disposable income.

Even though senior citizens do not have much disposable-income, the price ranges of the products are within their reach. The final factor in the PESTEL analysis is the social environment. The social environment consists of social notions ad attitudes. The aim of the company is to improve the lives of old people through technology, as such the company anticipates that the social environment is conducive for operation. Changes in the social environment would entail focusing on advertisements that outline the positive benefits of the products and why they are useful.

Paper For Above instruction

Developing an effective marketing plan for a business targeting senior citizens with technological solutions requires a strategic approach incorporating thorough market research, industry analysis, understanding of demographic distinctions, and competitive differentiation. This essay provides a comprehensive exploration of such a plan, emphasizing the importance of tailored research strategies, external environmental analysis via PESTEL framework, and targeted marketing tactics.

Introduction

The digital divide among senior citizens presents a significant opportunity for technology companies aiming to deliver accessible, user-friendly devices and applications. The proliferation of smartphones and digital services has revolutionized lifestyles; however, these advancements often exclude the elderly due to complexity and usability barriers. The proposed company, "IT for Seniors," seeks to bridge this gap by developing products specifically designed for seniors, including simplified interfaces, tailored applications, and innovative gadgets that facilitate communication, shopping, and documentation of life events.

Market Research Strategies

Conducting detailed market research forms the cornerstone of successfully launching products for seniors. Focus groups are instrumental in assessing product viability, usability, and acceptance among the target demographic. By presenting prototypes to diverse groups aged 65 and above, researchers gather qualitative insights into user satisfaction, perceived utility, and potential barriers. Such feedback informs product modifications, ensuring alignment with user needs and expectations (Babin & Zikmund, 2015).

Complementing focus groups, surveys offer quantitative data on interest levels, preferred features, pricing sensitivity, and willingness to adopt new technologies. Utilizing social media platforms like Facebook and online survey tools such as SurveyMonkey enables efficient, cost-effective data collection from a broad demographic sample (Stelzner, 2014). The data gleaned helps determine market demand, optimal pricing strategies, and segmentation refinement.

Industry and External Environment Analysis

Understanding the broader industry context is vital. The PESTEL analysis provides a structured approach to evaluating political, economic, social, technological, environmental, and legal factors impacting the business. Politically, the United States favors innovations that improve quality of life but imposes strict regulations on health-related information and digital health solutions (Hollensen, 2015). This necessitates compliance with health data privacy laws such as HIPAA, influencing product development and marketing strategies.

Economically, senior consumers tend to have stable income sources through pensions and savings, making them reliable target markets despite limited disposable income. Technologically, the U.S. environment fosters innovation, providing access to cutting-edge resources necessary for product development. However, staying current is crucial; technological obsolescence presents a continuous challenge.

Social attitudes towards aging and technology acceptance are generally positive, especially when products demonstrate clear benefits and ease of use. Marketing communications should focus on emphasizing the enhancement of independence, communication, and daily life improvements.

Environmental and legal factors, such as sustainability concerns and compliance with health and safety standards, also influence product design and distribution strategies. Overall, the external environment appears largely supportive but requires adherence to regulations and responsiveness to technological evolution.

Target Market Segmentation and Positioning

Effective segmentation involves categorizing seniors based on demographic, geographic, psychographic, and behavioral criteria. Demographically, targeting individuals aged 65 and above encompasses a broad spectrum with diverse needs, from active retirees to those with limited mobility. Geographically, urban areas with higher concentrations of tech-savvy seniors offer promising markets. Psychographically, segments interested in maintaining independence versus those seeking technology for companionship require tailored messaging.

Positioning strategies should focus on portraying the brand as a facilitator of independence, social connection, and ease-of-use. A value proposition emphasizing simplicity, reliability, and safety resonates with the target audience. For example, an application launcher that streamlines smartphone use can be positioned as a 'user-friendly gateway' to digital engagement—underscoring convenience and empowerment.

Competitive Differentiation and Advantage

Differentiation is achieved through features that directly address seniors' usability challenges, such as large icons, voice commands, and simplified navigation. Offering personalized support services and user education also enhances value. The company can gain competitive advantage by integrating AI-driven customization, ensuring the interface adapts to individual preferences and abilities (Marketing Magazine, 2010).

Competitive advantage extends beyond product features to include strategic alliances with healthcare providers and senior organizations, reinforcing credibility and expanding reach. Building a reputation for quality, safety, and responsiveness contributes to higher brand loyalty and long-term customer relationships.

Brand Positioning and Equity

Brand positioning involves influencing consumer perceptions so that the brand is associated with trustworthiness, ease of use, and empathy. Consistent messaging across channels, coupled with testimonials and word-of-mouth marketing, strengthens brand equity. High brand equity results in increased customer loyalty, resistance to competitive pressures, and opportunities for upselling or cross-selling additional solutions (Kotler & Keller, 2016).

Global Considerations and Cultural Sensitivity

As the company expands globally, understanding cultural differences is crucial. For instance, dietary habits, healthcare practices, and technological familiarity vary markedly. Adapting products to local preferences, such as smaller package sizes in countries with limited storage space or modifying interfaces to match local languages and cultural symbols, enhances acceptance (Lee, 2012). The example of McDonald's international marketing strategies demonstrates the importance of cultural adaptation in successful global branding.

Conclusion

Developing a comprehensive marketing plan targeting seniors with technology products requires meticulous research and understanding of external environmental factors, market segmentation, competitive positioning, and brand management. By leveraging focus groups, surveys, and industry analysis while emphasizing ease of use, safety, and cultural sensitivity, "IT for Seniors" can effectively meet the needs of this underserved demographic, fostering inclusion and enhancing quality of life through innovative technology solutions.

References

• Babin, B. J., & Zikmund, W. G. (2015). Exploring marketing research. Cengage Learning.
• Hollensen, S. (2015). Marketing management: A relationship approach. Pearson Education.
• Kotler, P., & Keller, K. L. (2016). Marketing management (15th ed.). Pearson.
• Lee, L. (2012). McDonald's TV advertisements in different countries. Retrieved from https://www.youtube.com/
• Mooij, D. (2013). Global marketing and advertising: Understanding cultural paradoxes. Sage Publications.
• Noort, G., Willemsen, M. C., Kerkhof, P., & Verhoeven, J. W. (2015). Webcare as an integrative tool for customer care, reputation management, and online marketing: a literature review. Journal of Interactive Marketing, 29, 1-14.
• Stelzner, M. (2014). Social media marketing industry report. Social Media Examiner.