What Is Age Targeting? Definition of Age Targeting, Age Targeting Meaning and Concept
Age segmentation consists of grouping markets using the age of the population as a reference.
It is important to mention that age is a very simple variable to use because it is easy to obtain the information and it can be easily identified. For that reason, it is very useful when you want to carry out a market segmentation .
Generally, this information can be found in the data handled by the organizations that carry out population censuses. This, given that it corresponds to the demographic variables that are handled both nationally and internationally.
In addition, this type of segmentation is important because, according to age, each person has very different needs, interests, and preferences. All these differences influence your decision and your ability to buy in the market . That is, considering the age of consumers, certain habits and customs can be identified at the time of making a purchase action.
How can the population be divided using the age of the people?
If we use the age of the people we could divide them into the following groups:
- Babies: Includes newborns and children under five years of age.
- Children : This group agglomerates children over five years old and under twelve years old.
- Adolescents : This group includes people over twelve years of age and under eighteen years of age.
- Youth: The youth group is people over eighteen and under twenty-five years of age.
- Young Adults: This segment includes people over the age of twenty-five and under the age of forty.
- Adults: These are people over forty years of age and under fifty-five years of age.
- Older adults: We find in this group people over fifty-five and under sixty-five.
- Elderly: They are people with more than sixty-five years and less than seventy-five years.
- Longevous: They are all people seventy-five years and older.
Why is it important to use the marketing strategy of targeting by age?
Using the marketing targeting strategy by age is very important for any company . This, since it helps to better understand the needs and desires of consumers in the market.
Undoubtedly, this segmentation helps us to know and understand some important aspects of consumers according to age. Among them we can find:
1. How they make their purchase decisions
First, age allows a company to understand how these groups make their purchasing decisions. For example, if we find a segment made up of children, we will understand that when buying they do not make significant decisions. If they are teenagers, they make impulse buying decisions.
Whereas, if the buyer is in the adult stage, we are dealing with buyers whose decisions are very rational. If the group of people are elderly or long-lived, we will realize that their level of effective purchases is very low.
2. What interests move each group
Secondly, according to age, it is possible to understand the different interests that drive each group and thus be able to know their personal priorities. Personal priorities are related to family, professional and work-related aspects.
We could exemplify, if we refer to the group of young people between the ages of eighteen and twenty-five, their main interest is their professional training. While, in the group of young adults who are between the ages of twenty-five and forty, their main interest is becoming independent, as well as formalizing a relationship with a partner.
For his part, an adult between forty and fifty-five years of age is worried about the future. For that reason, he tries to increase his wealth by acquiring a house and other assets. But, they also increased their savings and investments in real estate.
Now, an older adult, which is people between the ages of fifty-five and sixty-five, is concerned about their financial security. For this reason, they acquire insurance and pensions that assure them a decent life in future years.
3. Who is the client and the consumer
Third, age helps companies determine which of their segments act as customers or consumers. Babies, children and adolescents are only consumers because they only consume and use the products , but they have no purchasing power.
Generally, young people, adults and the elderly act as consumers and clients, since they use and consume the products they need and can also pay for them. These people have income, either because they are of productive age or because they receive funds and pensions, as is the case of retirees.
products by age
Some products target people based on their age specifically. You can talk about some products such as the following:
- Babies: Diapers, formulas, clothes and baby food, bottles, etc.
- Children : Toys, clothing, educational material, etc.
- Teenagers: Music, video games, clothing, accessories, sporting goods, etc.
- Youth: Technology, sporting goods, aesthetic products, travel, etc.
- Young adults: Travel, shows, entertainment, etc.
- Adults: Houses, apartments, vehicles, furniture, etc.
- Older adults: Insurance of all kinds, preventive medicine products, etc.
- Elderly: Food supplements, medicinal products, medical services, etc.
- Longevous: Medical services, curative health products, etc.
New age classification according to WHO
As a curious fact, the WHO (World Health Organization) in 2021 has just reclassified the ages of people into the following groups:
- Minors: from 0 to 17 years old.
- Young people: from 18 to 65 years old.
- Average age: from 66 to 79 years.
- Elderly: 80 to 99 years old.
- Long-lived seniors: more than 100 years.
In conclusion, it can be said that age segmentation is a strategy widely used by companies, since age is a very important reference for knowing the needs, interests and priorities of consumers. In addition, it is possible to know how age affects the purchase decision process and the person's purchasing power. In this way, the company can adapt its most convenient marketing mix for each segment.