teachthe4ps.com - For instructors of marketing.

When I teach segmentation and targeting this week, 5-hour ENERGY will be one of my examples.  Many of our students are familiar with this or similar products that help them stay awake and focused.  5-hour ENERGY can be found at check-out counters in stores around campus.

Marketing managers at 5-hour ENERGY are now targeting the senior citizen market.  I got a first-hand look at one element of the strategy at the Cherry Creek Arts Festival this past summer, where 5-hour had a tent with promotional material and free samples.  For more on the new target market and strategy, see “Bottlers of Buzz Wake Up to Find Seniors as Newest Customers” (Wall Street Journal, June 2, 2011 - non-subscribers may need to click here) will give you more information.

Here is how I plan to use 5-hour ENERGY in class.  I will start by using 5-hour ENERGY as the example when I explain how to define a product market – and use the student market as my customer type.  Later, as my lecture continues and I get into qualities of a good market segment (homogeneous within, heterogeneous between, substantial and operational), I will introduce the senior market (which fits these criteria).  Then I will get the students active and talking.  I like to use an approach called “Think Pair and Share” which works well in the large 90-student sections I teach.  I will focus students with the question – “What ideas do you have for 5-hour ENERGY if the company pursued a senior citizen target market?  Think about all 4 Ps.”  To motivate and reward their effort, I have them turn in a page with their ideas.

I really enjoyed this article, “Seeing Store Shelves Through Senior Eyes,” in the Wall Street Journal, September 14, 2009 [subscription required - or click here for a back door - click the top search result for direct access.]  It describes a program Kimberly Clark has used to raise the awareness of its brand managers and retailers to the challenges facing the elderly consumer.  I used it in class when discussing demographic trends and the growing elderly population, but it could easily fit into discussions of marketing research, brand management, and retailing.