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What's with the expression "the over-50 set"? Does anyone really think it's one group, with those just leaving their 40s behind suddenly sharing lifestyle preferences with 80-year-olds on the shuffleboard court? The prevailing wisdom, however flawed, is still that products should only be sold to the young. Just save the time, effort and money by arbitrarily cutting the cord at age 50, and dismiss the older generations as one big, homogeneous blob with no interests past golf and Jazzercise.

Sure, we'll sell them dentures and Viagra, but there's no use trying to convince them to switch to a different brand of car, shirt or beer. Too set in their ways, the thinking goes.

Even those who support the idea of paying more attention to the older shopper don't seem to break down things far enough. Published reports everywhere trumpet the coming retirement years of the "boomer generation," a view that lumps today's 60-year-olds with those just turning 40, hardly a homogeneous group. Businesses, they say, need to focus on a "generation" whose buying power is approaching $3 trillion and which, in an aging world, will soon account for two-thirds of America's income.

But the buying power of the over-50 set deserves a closer look. Financial planners say almost every client they see between 50 and 55 is desperately trying to catch up from a free-spending lifestyle that has left them paying off debt while finding a way to save for the education of their still-young children. Compounding the problem for some are worries about their pensions, making it even tougher to get them to take their wallets out.

It's a different story for those closer to or past their 60th birthday. While spiraling health care costs have some postponing retirement in order to keep hold of their company benefits, most have done a good job at saving. They also managed to skirt by the pension worries that affect their slightly younger counterparts, since their payouts are not thought to be in jeopardy.

In his new book The 50-Plus Market ($40, Kogan Page, 2006), Dick Stroud refers to this slightly older group as the "Charmed Generation," the last to hail from an era of reliable defined-benefit pensions, low debt and low-cost home ownership. Retiring to relative comfort, they figure to be steady spenders for many years to come. For businesses, capturing these people is not only advantageous but imperative, Stroud argues, since the group that's coming in behind them is so saddled with debt and future commitments.

Only 5% of all worldwide advertising budgets are geared to consumers 50 and over, while 80% is poured into the 18-34 segment--a shrinking market. That's like Eastman Kodak (nyse: EK - news - people ) putting 80% of its marketing and research and development budgets into traditional film and standing by while competitors cash in on the explosion in digital photography. The argument that the money on youth marketing is well spent because you're "hooking 'em for life"? Forget it, he says, there's no such thing. People of all ages try new brands all the time. A person will always leave your brand if he perceives a better value elsewhere.

While Stroud gets a bit melodramatic, those willing to muddle through a textbook-style lesson--breezy this book is not--will come away with a persuasive argument that fundamental change is needed to shake marketers from their comfort zone, one that leaves them unwilling to explore a new model that includes older consumers in their sales planning.

Stroud argues that it's a mistake not to include older consumers in an overall marketing strategy that divides potential buyers into worthwhile categories such as education level, race, zip code, income and buying preferences. Marketing strategy, he argues, is being driven more by stereotypes than by evidence.

"Marketing theory isn't affected by age bias, but marketers themselves are," Stroud writes, blaming the bias on a marketing industry population that skews under 35 on the lack of an institutional commitment to break out of a comfort zone.

That includes technology, where studies show that two-thirds of Americans over 55 are now online. Few companies are selling to them effectively through the Web, though, since most Web sites are built by young people for young people. Older customers are there and ready to buy, Stroud argues. Make the design and sales process a little simpler, and you'll get them.

There are, he points out, some signs of progress, as well as proof that including older viewers in a product advertisement doesn't have to alienate younger viewers. His pick for the perfect "age-neutral" advertisement? The 2004 collaboration between Apple Computer (nasdaq: AAPL - news - people ) and the rock band U2 for the iPod MP3 music player. That spot featured a hip new product with appeal to youngsters being sold by familiar middle-aged stars like Bono and Steve Jobs. Who's to feel left out?

Want to buy The 50-Plus Market at a Forbes.com members' discount? Click here.

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