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Learning to Love the Older Consumer

Learning to Love the Older Consumer. Isabelle Szmigin Marylyn Carrigan Journal of Consumer Behavior June 2001, Vol. 1,1, 22-34. Important Questions. What age is “old?’ Who defines “old?” Does age = attractiveness? Cognitive vs. Chronological consumer Does age = innovativeness?

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Learning to Love the Older Consumer

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  1. Learning to Love the Older Consumer Isabelle Szmigin Marylyn Carrigan Journal of Consumer Behavior June 2001, Vol. 1,1, 22-34

  2. Important Questions • What age is “old?’ • Who defines “old?” • Does age = attractiveness? • Cognitive vs. Chronological consumer • Does age = innovativeness? • Do we (marketers) need “old” people? • http://www.dove.us/#/products/sawitinanad/ • Are there differences between old men and old women?

  3. I. Main Issue/Topic • An analysis of how and why marketers have focused on younger consumers and forgotten to focus on older consumers

  4. II. Nature and Significance • A. How society decides and constructs who is “old” and who is “young.” • How people wish to see themselves • Age is in the eye of the beholder • Must meet the growing needs of older consumers • Older consumers are also important

  5. Nature and Significance • B. Older consumers are a potentially large market for goods and marketers can learn tremendously from their input • Marketers need to understand the consumer behavior of this “old” market • Age is in the eye of the beholder • Goods and services for this market include: retirement plans, condominiums, travel packages, and a host of medical goods and services

  6. Nature and Significance • C. Research Criticisms • 1. Theoretical Critique – Misperceptions of the “old people:” they are always considered “unhealthy”; not capable of doing newer things in life, such as, buying online; but are capable of enjoying life by travelling • 2. Methodological Critique – Two studies: Goldsith and Hofacker (1991) and the PUFA fish study by Leek, Maddock, and Foxall (1998) and Leek, Szmigin, and Carrigan (2001) • 3. Managerial Critique – aging consumers try new products but for different reasons; must be careful in advertising so that “older” consumers do not feel left out or worse, misrepresented. Older consumers could also be your target market, in some cases

  7. III. External Reference to Topic • Dychtwald, M. K. (1997). Marketplace 2000: Riding the wave of population change. Journal of Consumer Marketing, 14(4), 271-286. • Leventhal, R. C. (1997). Aging consumers and their effects on the marketplace. Journal of Consumer Marketing, 14(4), 276-281 • Millman, R. E. & Erffmeyer, R. C. (1990 December/January). Improving advertising aimed at seniors. Journal of Advertising Research, 31, 6.

  8. IV. Future Implications • Actual and derived consumption of older consumers must be considered • Focus on older women • How does “perception” of older consumers affect their consumer behavior? What are its implications to marketers? • Research the attitudes and behaviors of older consumers in relation to younger consumers • Basic traits do not change with age

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