Question

Topic: Strategy

At A Loss For The Best Product I've Ever Had .....

Posted by matt on 1/27/2020 at 5:44 PM ET 25 Points
Unfortunately I have to keep this vague, which I know handcuffs everyone but I have a medical device that I happen to use that is absolutely the most amazing product I've used and been lucky enough to help with. It's funny after I used it I demanded to meet with their Director of Marketing and took them on at a discount because I thought that it would be easy and it was a bonus that it would really help people. The target market is men 60 years of age and older. I was at an event today of the PERFECT market...100 people that were all potential customers. Not only were they not interested, the lack of interest was remarkable. Frig, I can't get into m more detail, but is there something I'm missing about men 60+ that are adverse to purchases in general? I would say that 40% of men 60+ would be a good fit....are they adverse to dealing with medical issues? I thought that was gone last generation. Anyway, so my question is, are there any general rules to marketing for older men?
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RESPONSES

  • Posted by Jay Hamilton-Roth on 1/27/2020 at 7:17 PM Accepted
    Age isn't the issue. Need/proof likely is.

    1) Does this device addresses something that affects the quality of their life (a must-have or a nice-to-have)?
    2) Is the issue something that they are addressing in another/trusted way?
    3) Since this is a medical device, are their independent lab tests proving effectiveness?
    4) What is the value proposition you're offering?
  • Posted by chiron34 on 1/28/2020 at 1:26 AM Accepted
    Another point of interest about men 60+ is that they most probably have long term marriages and would not be used to making a purchase decision without first discussing the pros & cons of the purchase with their wife. Wives are absent in the scenario your have outlined. The utility of the product, its cost or price are not the issues here, it's the purchase process that rules in this situation. This would be a long standing tradition between husband & wife so you are probably expecting too much if you think men of 60+ will react immediately in the way you would like, simply in response to a sales pitch.
  • Posted by matt on 1/28/2020 at 1:45 AM Author
    Thanks for the great questions and responses.

    1) Does this device addresses something that affects the quality of their life (a must-have or a nice-to-have)?
    That, in and of itself is a tough question. Perhaps this is where the problem lies. In my case it was a need. They are already priced where there certainly won't be any nice-to-have clients. In terms of quality of life it truly is life altering. It is definitely a product that you have to put on before you have the "eureka" moment.

    2) Is the issue something that they are addressing in another/trusted way?

    Great point. Yes they definitely are treating it simply with over the counter remedies and even though they aren't all that effective they don't require a prescription/doctor visit. Even though both are free in Canada, it's a step in the process.
    3) Since this is a medical device, are their independent lab tests proving effectiveness?
    Thankfully yes. The studies are recent and independent. The good part is that they have an extremely low rate of unsatisfied customers or returned products. They have also just received an endorsement from the NHL Alumni so that certainly helps.

    4) What is the value proposition you're offering?

    The value is allowing them to lead a more active lifestyle that is far less painful. But the other problem is that there are similar looking products making similar claims which results in a quick dismissal from many. It's funny though I may have been a little lazy in terms of sharpening my focus because I had so much personal success with the product that I thought I could easily turn heads right away.

    To chiron34

    What a great thought. I never would have thought of that in a million years. I think I need to change my overall process.

    Thanks VERY much everyone. I think if I retool with some better, more specific process I'll at least have a chance.
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