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Marketing In Action “Hot News”

Marketing In Action “Hot News”. The Intersection of Wealth, Technology and Age Creates a Market that Matters – SENIORS. Fast Facts 5 million Canadians 65+ (2011) By 2031 estimate of 9 million seniors (25+% of population) Annual growth rate of 14% (concentrated in Ont., Alta., and BC)

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Marketing In Action “Hot News”

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  1. Marketing In Action “Hot News”

  2. The Intersection of Wealth, Technology and Age Creates a Market that Matters – SENIORS • Fast Facts • 5 million Canadians 65+ (2011) • By 2031 estimate of 9 million seniors (25+% of population) • Annual growth rate of 14% (concentrated in Ont., Alta., and BC) • Increasing at 3x the rate of other populations • Boomers (1946 – 1964) control 77% of all personal assets in North America

  3. Technology and Seniors • What We Know: • Technology creates opportunities for new products • Seniors are a significant market • The Opportunities – The intersection of technology and seniors • Enhanced telephones (assist those with visual and cognitive impairment) • Personal emergency response systems (medical alarms) • Medication dispensers (record usage) • Motion sensors (activate household appliances, etc.)

  4. And now…the "Next Generation Cane" • Fast Facts • Prototype “Next Generation Cane” announced by Fujitsu in 2013 • Comes with: • built-in GPS • tracking log for third parties • email alerts if the user falls • medical monitoring • diagnostic records for physician • Meanwhile Fujitsu has also unveiled a smartphone for elder users Next Generation Cane

  5. Exploiting Technology to Other Niches – “Blind Spot Smartcane” • Fast Facts • The “white” cane was developed in 1921 • The smartcane redefines navigation • Singapore-based Blind Spot’s smartcane: • comes with built in Wi-Fi, 3G and GPS • tactile display with Bluetooth communication • retains favorite destinations in memory • coordinates with a location sharing application (Foursquare) to locate friends’ whereabouts BlindSpotCane

  6. Lessons Learned • Segments and niches provide revenue opportunities • New technologies can be leveraged to profitably enter niches • Emerging technologies can be exploited across niches • Questions • To what other niches can smartcanes be targeted? • What might be some impediments to market acceptance?

  7. --- End --- Marketing In Action “Hot News”

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