Business opportunity, marketing mix and strategies for brain fitness for elderly in Thailand.

Abstract

Thailand is experiencing among the most rapid rates of population ageing in the developing world. In 2016, the number of people aged 65 and over stands at about 7.5 million, accounting for 11% of the population, compared to 5% in 1995. By 2040, Thailand’s aging population is expected to increase to 17 million, accounting for 25% of the population. This demographic transition translates to challenges with health and care of older people. Alzheimer’s is the most common cause of dementia among older adults. There were an estimated 600,000 people in Thailand living with Alzheimer Disease in 2015 and this number is believed to be close to 1.1 million people in 2030. Brain fitness program is able to ease cognitive impairment in elderly. Many elderly patients with mild cognitive impairment experienced better brain function after a brain fitness program designed to sharpen their minds. This study was to identify business opportunities, define marketing mix that affect consumer buying behaviour and develop successful business strategy execution for brain fitness for elderly in Thailand.