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"In order to better understand the mature market we must thoroughly understand the factors that both contribute to its complexity and make individuals within the segment respond differently to marketing stimuli. This presentation very effectively explains how to successfully tackle both of these objectives. "
Professor George Moschis
Executive Director
Center for Mature Consumer Studies
The consumer behavior of older Americans has more to do with their outlook on life than their age. The physical, social, and psychological changes people experience in later life shape their needs and wants. These events and circumstances give rise to four distinct consumer segments with different ways of responding to marketing efforts. Perhaps no other consumer market justifies segmentation more than the mature market. The older people get, the more dissimilar they become with respect to their needs, lifestyles, and consumption habits. Yet many businesses still treat everyone aged 50-plus in the same way. When people experience major life events, they often change their outlook on life as they re-evaluate their wants, goals, and roles on both personal and consumer levels. As they go through these changes, older consumers' needs for products obviously change, but so do their perceptions of and responses to advertisements and promotions. This presentation focuses on "Gerontographics" which is a segmentation approach based on the premise that the factors that make mature consumers more (or less) receptive to marketing offerings are directly related to their needs and lifestyles, which are in turn influenced by changing life conditions.
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