Change is hard for consumer companies. For all the with-it bluster that marketers like to believe emblematizes their industry, their business structure is highly conventional and unable to adapt easily to new ideas. Despite shifting demographics and innovative technologies and channels for reaching existing and new audiences, marketing is still rooted in past realities, including the dominance of network TV and youthful consumers. To tap into the extremely valuable 50-plus age group, companies must break out of these behaviors. They have to challenge core practices and organizational structures, including the very assumptions and career paths by which their own attitudes, experiences, and aspirations were
Richard Rawlinson is a partner with Booz & Company based in London. He focuses on the leadership agenda for consumer-oriented and services clients.
Natasha Kuznetsova is a senior associate with Booz & Company based in London. She focuses on strategic marketing and branding topics for consumer-oriented clients.