This paper aims to propose a framework for marketing to the sandwich generation (SG) shopper, an influential and growing demographic in the marketplace.
Abstract
Purpose
This paper aims to propose a framework for marketing to the sandwich generation (SG) shopper, an influential and growing demographic in the marketplace.
Design/methodology/approach
This paper draws from research in business, sociology, health care and industry sources that have studied the SG. It proposes a marketing framework to create value for SG shoppers and their families, in multiple ways.
Findings
SG members seek to meet at least four major kinds of needs across their intergenerational families: financial management, social support, health care and wellness. Businesses can help them more efficiently bridge those needs by including certain enablers in their offerings: human resource benefits to manage health and associated costs, resource allocation tools to manage financial and social support needs across different lifespans, time management tools to integrate social support needs with wellness outcomes and technology/services that help meet health and wellness needs across the family.
Practical implications
Managers can attract SG members and their families to their offerings by keeping in mind three rules of thumb: help them recover their most scarce resource: time; capitalize on age-friendly adjustments in the marketplace; and innovate with universal design in mind.
Originality/value
To the author’s knowledge, this is the first application of existing knowledge on the SG to a marketing framework that addresses key SG customer concerns.
Details
Keywords
Keejae Hong, Cabrini H. Pak and Simon J. Pak
The purpose of this study is to examine the degree of trade mispricing in the US fresh banana trade with Latin American and Caribbean countries using a new alternative measure in…
Abstract
Purpose
The purpose of this study is to examine the degree of trade mispricing in the US fresh banana trade with Latin American and Caribbean countries using a new alternative measure in estimating arm’s length price.
Design/methodology/approach
A key feature of the research design is that we use the actual free market price of commodity (e.g. fresh banana price) as a benchmark for arm’s length price rather than relying on interquartile range, which is known to be problematic.
Findings
The paper finds that when the degree of mispricing is measured by two widely used methods, interquartile price filter and partner-country methods, we find little evidence of undervaluation or overvaluation of US banana import. However, when we use the free-market price of fresh banana as a benchmark for arm’s length price, first adopted in this study, the average undervalued amount of trade compared to the total banana import declared value by the US importers is on average 54 per cent during the period between 2000 and 2009.
Originality/value
This study suggests a new simple measure in estimating arm’s length traction price in studying trade mispricing.
Details
Keywords
The purpose of this paper is to provide a framework to better understand the emerging aging consumer markets. It identifies new principles to better serve the ranks of the 50…
Abstract
Purpose
The purpose of this paper is to provide a framework to better understand the emerging aging consumer markets. It identifies new principles to better serve the ranks of the 50+ consumer market as those segments grow in number and economic influence.
Design/methodology/approach
The framework was developed following industry and literature reviews and analysis of secondary data from the Social Security Administration, Census Bureau, US Department of Labor, UN Population Division, and AARP.
Findings
Demographics point to a significant rise in the importance and complexity of consumer markets in the age 50+ segments. There are psychological, social, economic and biological changes that affect the spending habits and priorities of these consumers and, while there are excellent examples of companies taking these factors into account in designing products and services, it is clear that we have only begun to consider how best to serve aging and generally affluent consumers.
Practical implications
The aging consumer is rapidly moving from being something of a cursory footnote on corporate product/service plans to being a dominant market force. Companies with a deep understanding of the unique needs and priorities of the age 50+ segments, and which design products and services informed by this understanding, will gain a significant competitive advantage over those that overlook these characteristics and preferences.
Originality/value
This article provides both a framework for companies to assess the needs of the emerging 50+ consumer market, as well as examples of companies that have begun to innovate with an eye toward serving this increasingly complex and well‐heeled population.