The Business of Ageing Essay

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The Business of Ageing Abstract The aging population in Japan has consistently been on the increase over the past years. This trend has prompted the manufacturers to rethink the kind of products they release to the market. Several companies have resorted to manufacturing products that can assist the aging generation in their day-to-day life operations. To achieve this, the companies have embraced technological advancement and are working on devices that can even read the mind of human beings and execute what the individual is thinking of doing at any given point. This paper examines the changes that some Japanese companies have adopted in order to manufacture products that suit the ageing population. It also discusses ways through which Japanese manufacturers can employ market segmentation, targeting as well as positioning so as to have competitive advantage over rival companies. Key words: elderly, manufacturers, segmentation The Business of Ageing Question One Japanese manufacturers have resorted to technology in order to change the products they offer to suit the country’s aging population. The countries population is rapidly ageing with an ever increasing number of individuals who live well above 100 years. The aging population is putting a demand for devices that would offer assistance and ease the life of the elderly. Manufacturers have resorted to innovative products such as personal assistance robots, electronic gadgets that are able to read the mind of users and new generation cars that are able to notify their users when they error while driving among other new technological advances (The Squeeze, 2011). For instance, Toto has come up with an intelligent toilet that has an inbuilt bidet as well as a variety of heat settings on the seat. The design enables the toilets to push the elderly in order to help them stand once they are

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