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Build Upon a Foundation of Knowledge and Information

Overview

Identifying and carrying out ways to increase profit in baby boomer and older consumer markets (or any other market) is difficult without first understanding the company's current situation and position. To help clients in understanding their company's position concerning baby boomer and older consumer markets, Coming of Age has developed a qualitative assessment.

Our Approach

The baby boomer and older consumer markets Business Assessment consists of five major modules or phases: Marketing and Sales Assessment, Employee Understanding and Perceptions, Customer Expectations and Perceptions, Physical Facility Assessment, and Operating Policies, Procedures and Protocol Assessment.

The purpose of these tools is to give the client benchmarks and a foundation upon which to develop a more effective approach to these segments of the market. We can separate the components of the business assessment and provide each as a stand-alone service, or provide groupings of assessments to meet the needs of the client.

Marketing & Sales Assessment

As a benchmark for improved effectiveness, Coming of Age will provide an assessment of how the organization currently markets and sells to baby boomer and older consumer markets. Using employee interviews and analysis of available documentation, this qualitative assessment will examine the following elements within the context of viability and effectiveness in baby boomer and older consumer markets:

• Market segmentation
• The product/service developmental process
• Market positioning, strategies and tactics
• Sales/marketing channels
• Marketing & Sales planning, promotions and communications
• Marketing & Sales organizational design
• Staff roles, responsibilities and accountabilities
• Measures of performance
• Measures of customer satisfaction

Employee Understanding And Perception Assessment

Using employee interviews and question sets, this phase of the assessment will focus on capturing:

• Employee understanding of baby boomers and older consumers and the aging process (level of stereotypical thinking).
• Employee understanding of the organization's desired approach to baby boomer and older consumer markets
• Perceived differences between younger and maturing customers
• Perceived level of responsiveness and commitment to baby boomer and older consumer markets
• Perceived effectiveness of current marketing and sales practices
• Perceived need for training to improve maturing consumer market performance
• Perceived opportunities for improved performance in maturing consumer markets.

Customer Expectations And Perceptions Assessment

In this assessment, we will survey baby boomers and older customers to assess their level of satisfaction with products and services. We will solicit customer opinions to contrast any perceived differences between their expectations and experiences. We will document desired areas of improvement.

Physical Facility Assessment

This component will focus on the physical facility as to adherence to suggested facility design, lighting, furniture, colors and other standards developed to create a user friendly environment and to satisfy the changing needs of the maturing consumer. The emphasis of this phase will be on the facilities general appeal and ease of use by the maturing consumer.

Operating Policies, Procedures And Protocol Assessment

Focusing on identifying obstacles to customer satisfaction, Coming of Age will review selected current operating policies, procedures and protocols. We will make recommendations to improve responsiveness to the needs and wants of the maturing consumer.

Deliverables

Upon completion of each assessment, or grouping of assessments, Coming of Age will present its findings, conclusions and specific recommendations to the client in a management briefing and written summary report.

Benefits:

As a result, the client will have a better potential to:

• Improve marketing and sales planning and performance and set appropriate direction
• Develop or modify, policies, strategies and tactics
• Improve profit, service delivery, and increase market shares
• Establish measures of performance and customer satisfaction
• Improve customer and employee communications
• Identify training requirements
• Address organizational and cultural changes needed for improved performance in baby boomer and older consumer markets
• Address the physical facility changes necessary for improved user friendliness and increased appeal to baby boomer and older consumers

For more information about our research and assessment capabilities, please contact us at info@comingofage.com.