Tom Peters’ excellence. Always. Xalways. Long. 1339. 05October2006 X. Al excellence. Always. Slides* at … tompeters com *also “long” The Irreducible209+/ Sales122/60tibs

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50+ $7T wealth (70%)/ $2T annual income 50% all discretionary spending 79% own homes 40M credit card users 41% new cars/48% luxury cars $610B healthcare spending/ 74% prescription drugs 5% of advertising targets Ken Dychtwald, Age Power: How the 21st Century Will Be Ruled by the New Old

“Fifty-four years of age has been the highest cutoff point for any marketing initiative I’ve ever been involved in. Which is pretty weird when you consider age 50 is right about when people who have worked all their lives start to have some money to spend.” —Marti Barletta, PrimeTime Women

Median Household Net Worth <35: $7K 35-44: $44K 45-54: $83K 55-64: $112K 65-69: $114K 70-74: $120K >74: $100K Source: U.S. Census

44-65: “New Customer Majority” * *45% larger than 18-43; 60% larger by 2010 Source: Ageless Marketing, David Wolfe & Robert Snyder

“The New Customer Majority is the only adult market with realistic prospects for significant sales growth in dozens of product lines for thousands of companies.” —David Wolfe & Robert Snyder, Ageless Marketing

“Marketers attempts at reaching those over 50 have been miserably unsuccessful. No market’s motivations and needs are so poorly understood.” —Peter Francese, founding publisher, American Demographics

“Older people have an image problem. As a culture, we’re conditioned toward youth. … When we think of youth, we think ‘energetic and colorful;’ when we think of middle age or ‘mature,’ we think ‘tired and washed out.’ and when we think of ‘old’ or ‘senior,’ we think either ‘exhausted and gray’ or, more likely, we just don’t think. … The financial numbers are absolutely inarguablethe Mature Market has the money. Yet advertisers remain astonishingly indifferent to them. …” —Marti Barletta, PrimeTime Women

Baby-boomer Women: The Sweetest of Sweet Spots for Marketers” —David Wolfe and Robert Snyder, Ageless Marketing

“WOMAN of the Year: She’s the most powerful consumer in America. And as she starts to turn sixty this month, the affluent baby boomer is doing what she’s always done—redefining herself.” —Joan Hamilton, Town & Country, JAN06

“Sixty Is the New Thirty” —Cover/AARP

“‘Age Power’ will rule the 21st century, and we are woefully unprepared.” Ken Dychtwald, Age Power: How the 21st Century Will Be Ruled by the New Old

“Road Signs of the Times: Creating an easier-to-read typeface for aging drivers” —The New York Times


Fastest growing demographic: Single-person Households (>50% in London, Stockholm, etc) Source: Richard Scase

% of homes purchased by single women: 1981, 10%;2005, 20% % of homes purchased by single men: 1981, 10%; 2005, 9% Source: USA Today/02.15.06

Women. Women business owners. Boomers-Geezers. Single-person HHs (Urban)

Demographic Upheaval! 1/1/2008: 60% of the Prime Work Force (“boomers”), mostly white males, will be able to retire—at a rate of 10,000 per day. As of 2005: 75% of people entering the workforce are women and minorities. As of 2008, they will “flood the management ranks” as the PWF retires. Programs for recruiting women and minorities with the necessary intensity: mostly AWOL. Selling to Men, Selling to Women, Jeffery Tobias Halter




“A focus on cost-cutting and efficiency has helped many organizations weather the downturn, but this approach will ultimately render them obsolete. Only the constant pursuit of innovation can ensure long-term success.” —Daniel Muzyka, Dean, Sauder School of Business, Univ of British Columbia

“Under his former boss, Jack Welch, the skills GE prized above all others were cost-cutting, efficiency and deal-making. What mattered was the continual improvement of operations, and that mindset helped the $152 billion industrial and finance behemoth become a marvel of earnings consistency. Immelt hasn’t turned his back on the old ways. But in his GE, the new imperatives are risk-taking, sophisticated marketing and, above all, innovation.”BW/2005

More than $$$$ #1 R&D spending, last 25 years?


New Economy?! Genentech09, Amgen09 > Merck09 (70K-3/394B-5)


“I am often asked by would-be entrepreneurs seeking escape from life within huge corporate structures, ‘How do I build a small firm for myself?’ The answer seems obvious: Buy a very large one and just wait.” —Paul Ormerod, Why Most Things Fail: Evolution, Extinction and Economics

“Forbes100” from 1917 to 1987: 39 members of the Class of ’17 were alive in ’87; 18 in ’87 F100; 18 F100 “survivors” significantly underperformed the market; just 2 (2%), GE & Kodak, outperformed the market from 1917 to 1987. S&P 500 from 1957 to 1997: 74 members of the Class of ’57 were alive in ’97; 12 (2.4%) of 500 outperformed the market from 1957 to 1997. Source: Dick Foster & Sarah Kaplan, Creative Destruction: Why Companies That Are Built to Last Underperform the Market

Korea: Welcome to the “Club of Shattered Dreams.” Of Korea’s Top 100 companies in 1955, only 7 were still on the list in 2004. The 1997 crisis “destroyed half of Korea’s 30 largest conglomerates.” Source: KET Issue Report, Kim Jong Nyun

“TOO BIG TO GROW: Why Wall Street has soured on many of corporate America’s most admired and feared companies” —headline, Newsweek, 0313.06

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