Selling to Mature Market Your Road to Success

Selling to Mature Market Your Road to Success With Cathy Macaione & Doug Miller January 2006

Population Profile There are currently people age 50 or over in America. By the year 2010 the 50-plus population will be larger than the youth segment - versus. By 2020, the 50-plus group will surge to. The average 50 year old can now expect to enjoy another 29 years of life The face of aging is largely a face. American over 50 out number 43 million to 35 million.

Selling to the Mature Market Your Road to Success How Old Is A Senior What Do They Liked To Be Called? Understanding the extended senior customer.

Selling to the Mature Market Your Road to Success Is your community targeting seniors? You should be. Here s why Seniors make up a larger market than African- Americans and Hispanic market segments combined. Age 55+ households are the fastest growing user segment to embrace computer technology. Seniors are the most brand loyal age group. Seniors acquire 41% of all new cars. Seniors account for 80% of luxury travel. They spend more than one trillion dollars on goods and services

Market Segments Profile of Pre-Retirees (age 50 64) Better educated and far more individualistic. Willing to indulge in their whims. Experience more major life-changing events. Nutrition becomes more important to insure well-being. Profile of Active Retirees (age 65 74) Moving from career/employment to leisure/volunteering. Seek out discounts and feel they are entitled to them. Most likely to buy brands that give the best dollar value. More likely to spend money on items that are exclusively for their own benefit and enjoyment. Profile of Older Seniors (age 75 plus) Many enjoy life in their own home; however, some are facing alternatives to independent living. High priority is health care. Reluctant to experiment with new product Other Important Characteristics Swing Generation (58 70) World War II Generation (70 +)

Older Adults are More Active Than Ever Reading 48% Walking 45% Cooking 35% Gardening 34% Houseplants 30% Music 28% Travel 28% Fishing 23% Needlework 21% Sewing 20%

Leisure Activities That Mature Americans Consider Priorities and Very Important Time with family 68% Relaxation 58% Companionship 56% Having time to yourself 54% Help other people 38% Learn new things 38% Creativity 30% Amusement/entertainment 29% Meet new people 28% Exercise 26% Cultural enrichment 20% Excitement 15%

The Need For Research Necessary Information to Define Your Market 1. Quantify your market 2. Qualify your market

The Need For Research Necessary Information to Define Your Market 3. What is the competitive nature of your market?

Selling to the Mature Market Your Road to Success Marketing Plan Development Will Where How

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Selling to the Mature Market Your Road to Success Strategic Design What is the overall purpose of your advertising program? Provide Detail What are the specific features and benefits of your product, services or program? Provide Your Staff With Adequate Information What do you know about your market, the demographics and the business climate?

Selling to the Mature Market Your Road to Success Develop An Action Plan The next step is to choose the promotional means you will use to deliver your message, and then establish an advertising schedule. Consider Additional Promotional Opportunities There are alternative means to the traditional media approach.

Selling to the Mature Market Your Road to Success Alternative Marketing Ideas

Product How Are You Different? Service Community Image

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Features you want to consider for your next new construction or renovation project. Exterior Low-maintenance exterior (vinyl, brick) Low-maintenance shrubs and plants Deck, patio or balcony surfaces are no more than ½" below interior floor level if made of wood Overall Floor Plan Main living on a single story, including full bath No steps between rooms/areas on the same level 5' x 5' clear/turn space in living area, kitchen, a bedroom and a bathroom Hallways Minimum of 36" wide, wider preferred Well lit

Features you want to consider for your next new construction or renovation project. Entry Accessible path of travel to the home At least one no-step entry with a cover Sensor light at exterior no-step entry focusing on the front-door lock There needs to be 32" of clear width, which requires a 36" door Non-slip flooring in foyer Entry door sidelight or high/low peep hole viewer; sidelight should provide both privacy and safety. Doorbell in accessible location Surface to place packages on when opening door Thresholds Flush preferable Exterior maximum of ½" beveled Interior maximum of ¼"

Features you want to consider for your next new construction or renovation project. Interior Doors There needs to be 32" of clear width, which requires a 36" door Levered door hardware Windows Plenty of windows for natural light Lowered windows or taller windows with lower sill height Low maintenance exterior and interior finishes Easy to operate hardware Garage or Carport Covered carports and boarding spaces Wider than average carports to accommodate lifts on vans Door heights may need to be 9'-0" to accommodate some raised roof vans 5' minimum access aisle between accessible van and car in garage If code requires floor to be several inches below entrance to house for fume protection, can slope entire floor from front to back to eliminate need for ramp or step Ramp to doorway if needed Handrail if steps

Features you want to consider for your next new construction or renovation project. Faucets Lever handles or pedal-controlled Thermostatic or anti-scald controls Pressure balanced faucets Kitchen and Laundry Counters Wall support and provision for adjustable and/or varied height counters and removable base cabinets Upper wall cabinetry - 3" lower than conventional height Accented stripes on edge of countertops to provide visual orientation to the workspace Counter space for dish landing adjacent to or opposite all appliances Base cabinet with roll out trays and lazy susans Pull-down shelving Glass-front cabinet doors Open shelving for easy access to frequently used items

Features you want to consider for your next new construction or renovation project. Appliances Easy to read controls Washing machine and dryer raised 12" - 15" above floor Front loading laundry machines Microwave oven at counter height or in wall Side-by-side refrigerator/freezer Side-swing or wall oven Raised dishwasher with pushbutton controls Electric cook top with level burners for safety in transferring between the burners, front controls and downdraft feature to pull heat away from user; light to indicate when surface is hot Miscellaneous 30" x 48" clear space at appliances or 60" diameter clear space for turns Multi-level work areas to accommodate cooks of different heights Open under-counter seated work areas Placement of task lighting in appropriate work areas Loop handles for easy grip and pull Pull-out spray faucet; levered handles In multi-story homes, laundry chute or laundry facilities in master bedroom

Features you want to consider for your next new construction or renovation project. Bathroom Wall support and provision for adjustable and/or varied height counters and removable base cabinets Contrasting color edge border at countertops At least one wheelchair maneuverable bath on main level with 60" turning radius or acceptable T-turn space and 36" x 36" or 30" x 48" clear space Bracing in walls around tub, shower, shower seat and toilet for installation of grab bars to support 250-300 pounds If stand-up shower is used in main bath, it is curb less and minimum of 36" wide Bathtub - lower for easier access Fold down seat in the shower Adjustable/ handheld showerheads, 6' hose Tub/Shower controls offset from center Shower stall with built-in antibacterial protection Light in shower stall Toilet 2 ½" higher than standard toilet (17" to 19") or height-adjustable Design of the toilet paper holder allows rolls to be changed with one hand Wall-hung sink with knee space and panel to protect user from pipes Slip-resistant flooring in bathroom and shower

Features you want to consider for your next new construction or renovation project. Stairways, Lifts and Elevators Adequate hand rails on both sides of stairway, 1 ¼" diameter Increased visibility of stairs through contrast strip on top and bottom stairs, color contrast between treads and risers on stairs and use of lighting, Multi-story homes may provide either preframed shaft (i.e. stacked closets) for future elevator, or stairway width must be minimum of 4' feet to allow space for lift Residential elevator or lift Ramps Slope no greater than 1" rise for each 12" in length, adequate handrails 5' landing provided at entrance 2" curbs for safety Storage Adjustable closet rods and shelves Lighting in closets Easy open doors that do not obstruct access

Features you want to consider for your next new construction or renovation project. Electrical, Lighting, Safety and Security Light switches by each entrance to halls and rooms Light receptacles with at least 2 bulbs in vital places (exits, bathroom) Light switches, thermostats and other environmental controls placed in accessible locations no higher than 48" from floor Electrical outlets 15" o.c. from floor; may need to be closer than 12' apart Clear access space of 30" x 48" in front of switches and controls Rocker or touch light switches Audible and visual strobe light system to indicate when the doorbell, telephone or smoke or CO2 detectors have been activated High-tech security/intercom system that can be monitored, with the heating, air conditioning and lighting, from any TV in the house Easy-to-see and read thermostats Pre-programmed thermostats Flashing porch light or 911 switch Direct wired to police, fire, and EMS (as option) Home wired for security Home wired for computers

Features you want to consider for your next new construction or renovation project. Flooring Smooth, non-glare, slip-resistant surfaces, interior and exterior If carpeted, use low (<.50" high pile) density, with firm pad Color/texture contrast to indicate change in surface levels Heating, Ventilation and Air Conditioning HVAC should be designed so filters are easily accessible Energy efficient units Windows that can be opened for cross ventilation, fresh air Energy Efficient Features In-line framing with 2x6 studs spaced 24" on center Air-barrier installation and sealing of duct work with mastic Reduced-size air conditioning units with gas furnaces Mechanical fresh air ventilation, installation of air returns in all bedrooms and use of carbon monoxide detectors Installation of energy efficient windows with Low-E glass

Features you want to consider for your next new construction or renovation project. Reduced Maintenance/Convenience Features Easy to clean surfaces Central vacuum Built-in pet feeding system Built-in recycling system Video phones Intercom system Other Ideas Separate apartment for rental income or future caregiver Flex room that can used as a nursery or playroom when the children are young and as a home office later; if combined with a full bath, room could also be used for an aging parent/aging in place

Cathy Macaione About the Author Cathy Macaione, President, Cathy Macaione Educational Resources and CMA Direct, Inc., an Apartment Marketing and Management Specialist and Employment Placement and Temporary Leasing Professional Placement Service, has more than 22 years in the Real Estate Industry. Cathy s creative marketing skills have won her numerous awards including Chicago s prestigious CAMME and ALEX awards. She demonstrates her creativity and expertise through the exploration and implementation of alternative marketing methods. Prior to starting her our consulting business, Cathy held numerous positions, ranging from leasing professional to property manager to marketing/training director, for several large management companies. Cathy is also an experienced trainer and developer of Personal Touch workshops and seminars. Cathy is a frequent contributor of articles on marketing, maintenance, leasing and management tactics to industry publications. She facilitates and present for Sales, Marketing and Magic s Brainstorming Sessions. Cathy is the author of Six Days to Success: Training the New Leasing Professional. Cathy is a national speaker and speaks on topics related to Leasing, Marketing, Maintenance, Customer Service, Tax Credit, Image and Resident Retention. Cathy holds and Illinois Brokers license and has earned the H.C.C.P designation. She remains actively involved with The Chicagoland Apartment Association. For further information on Cathy, please contact her at macaione@ix.netcom.com or 630-529-5028