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Understand the impact of a global ageing population on how products are bought, and the effect this has on how to market and advertise these products and services to the older generation of consumers. Contains models for companies to evaluate the success of their own strategies, with tools for improving their age-friendly marketing campaigns.
The Aging Consumer: Perspectives from Psychology and Marketing, 2nd edition takes stock of what is known around age and consumer behavior, identifies gaps and open questions within the research, and outlines an agenda for future research. There has been little systematic research done with respect to the most basic questions related to age and consumer behavior, such as whether older adults versus young and middle-age adults respond to marketing activities including pricing, promotions, product design, and distribution. Written by experts, The Aging Consumer compiles research on a broad range of topics on consumer marketing, from an individual to a societal level of analysis. This second edition provides new versions of chapters contained in the 2010 volume that have been updated to reflect the latest psychological and marketing research and thinking. Included also are ten new chapters which cover exciting new ground, such as changes in metacognition in older adults, motivated cognition of the aging consumer, and a global perspective on aging and the economy across cultures. This updated volume is beneficial for researchers and practitioners in marketing, consumer behavior, and advertising. Additionally, The Aging Consumer, 2nd edition will appeal to professionals in other fields such as psychology, decision sciences, gerontology and gerontological social work, and those who are concerned with normal human aging and its implications for the everyday behavior of older individuals. It will also be of interest to those in fields concerned with the societal implications of an aging population, such as economics, policy, and law.
The current shift in demographics - aging and shrinking populations - in many countries around the world presents a major challenge to companies and societies alike. One particularly essential implication is the emergence and constant growth of the so-called "silver market," the market segment more or less broadly defined as those people aged 55 and older. Increasing in number and share of the total population while at the same time being relatively well-off, this market segment can be seen as very attractive and promising, although still very underdeveloped in terms of product and service offerings. This book offers a thorough and up-to-date analysis of the challenges and opportunities in leveraging innovation, technology, product development and marketing for elder consumers and employees. Key lessons are drawn from the Japanese lead market as well as other select countries.
At present, about 45 million Americans are over the age of 65, and by 2020, one out of every six Americans will be 65 or older. These statistics are reflective of a worldwide phenomenon in developing and developed countries alike unrivalled since the Industrial Revolution. This edited volume, written by experts in many fields, examines the economic and psychological research on how aging consumers behave, make decisions, and choose in the marketplace. The book takes stock of what is known, identifies gaps and open questions, and outlines an agenda for future research. It covers topics from the individual to the societal level of analysis.
Understand the impact of a global ageing population on how products are bought, and the effect this has on how to market and advertise these products and services to the older generation of consumers. Contains models for companies to evaluate the success of their own strategies, with tools for improving their age-friendly marketing campaigns.
Oldness: a social construct at odds with reality that constrains how we live after middle age and stifles business thinking on how to best serve a group of consumers, workers, and innovators that is growing larger and wealthier with every passing day. Over the past two decades, Joseph F. Coughlin has been busting myths about aging with groundbreaking multidisciplinary research into what older people actually want -- not what conventional wisdom suggests they need. In The Longevity Economy, Coughlin provides the framing and insight business leaders need to serve the growing older market: a vast, diverse group of consumers representing every possible level of health and wealth, worth about $8 trillion in the United States alone and climbing. Coughlin provides deep insight into a population that consistently defies expectations: people who, through their continued personal and professional ambition, desire for experience, and quest for self-actualization, are building a striking, unheralded vision of longer life that very few in business fully understand. His focus on women -- they outnumber men, control household spending and finances, and are leading the charge toward tomorrow's creative new narrative of later life -- is especially illuminating. Coughlin pinpoints the gap between myth and reality and then shows businesses how to bridge it. As the demographics of global aging transform and accelerate, it is now critical to build a new understanding of the shifting physiological, cognitive, social, family, and psychological realities of the longevity economy.
Marketers interested in designing effective strategies to tap the increasingly lucrative mature market presently must look for relevant information in several disciplines and need the background to translate it into a decision-making framework. This book systematically organizes information scattered among various fields of scientific inquiry; it interprets and presents information, making it easier for the busy decision maker to find out how older consumers behave and why. By presenting and interpreting relevant information in a marketing decision-making context, the book provides the bases for developing effective marketing strategies. Next, the author discusses both specific and general aspects of behavior that have implications for marketing strategy. Specifically, the book helps the reader understand how changes in mental processes in late life might affect the way an older person responds to marketing stimuli, and how lifestyles of mature persons can form the bases for designing effective marketing strategies. Finally, the author discusses specific aspects of older consumers' consumption and behavior in the marketplace, including mass media use, expenditure and consumption patterns, shopping habits, product/service acquisition process, as well as behaviors following purchase. At the end of each chapter, the author outlines several implications of the material presented that will be of interest to marketers, retailers, advertisers, social workers, public policy makers, and students of human behavior. The book ends by summarizing key points, drawing conclusions, and making recommendations to various groups interested in serving the mature market. The results of hundreds of studies are reviewed and presented in such a way that they can be used by practitioners. The book begins with an examination of the older consumer market and its characteristics. Age-related changes in late life and theoretical explanations for them are discussed next to help the reader understand human behavior in general and consumer behavior in particular.
This book examines consumer behavior using the “life course” paradigm, a multidisciplinary framework for studying people's lives, structural contexts, and social change. It contributes to marketing research by providing new insights into the study of consumer behavior and illustrating how to apply the life course paradigm’s concepts and theoretical perspectives to study consumer topics in an innovative way. Although a growing number of marketing researchers, either implicitly or explicitly, subscribe to life course perspectives for studying a variety of consumer behaviors, their efforts have been limited due to a lack of theories and methods that would help them study consumers over the lifecycle. When studying consumers over their lifespan, researchers examine differences in the consumer behaviors of various age groups (e.g., children, baby boomers, elderly, etc.) or family life stages (e.g., bachelors, full nesters, empty nesters, etc.), inferring that consumer behavior changes over time or linking consumption behaviors to previous experiences and future expectations. Such efforts, however, have yet to benefit from an interdisciplinary research approach. This book fills this gap in consumer research by informing readers about the differences between some of the most commonly used models for studying consumers over their lifespan and the life course paradigm, and providing implications for research, public policy, and marketing practice. Presenting applications of the life course approach in such research topics as decision making, maladaptive behaviors (e.g., compulsive buying, binge eating), consumer well-being, and cognitive decline, this book is beneficial for students, scholars, professors, practitioners, and policy makers in consumer behavior, consumer research, consumer psychology, and marketing research.
Does a longer life mean a healthier life? The number of adults over 65 in the United States is growing, but many may not be aware that they are at greater risk from foodborne diseases and their nutritional needs change as they age. The IOM's Food Forum held a workshop October 29-30, 2009, to discuss food safety and nutrition concerns for older adults.
This book provides insights into the inspiring and multifaceted field of advertising research, which is confronted with challenges regarding ad content and execution, media placement, as well as online and social media. Distinguishing between digital, classic, subtle, and alternative advertising formats, renowned scholars from around the globe contribute state-of-the-art research on these issues in 30 chapters. Advances in Advertising Research are published by the European Advertising Academy (EAA). This volume is a compilation of research presented at the 13th International Conference in Advertising (ICORIA), which was held in Amsterdam (The Netherlands) in June 2014. The conference gathered around 150 participants from diverse countries from Europe, North-America, Asia, and Australia.