Ageing Population's Consumption in Today's Global Recession

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Changing demographic trends (rise of the older population) is creating new marketing opportunities. This paper segments the older consumers in three bands. The study covers food preferences, health issues etc.
Primary data has been used for study. Area sampling has been used and the respondents have been selected randomly when they matched the age band criteria- Group A consisting of age 55 to 65 years, Group B consisting of age 65 to 75 years and Group C consisting of age 75 to 85 years. Data collection was done by personally meeting the three different groups of respondents and administering the questionnaire to them. The period of study was January - December 2008 in the district Ahmednagar (M.S.), INDIA.
Our investigation shows that across all the three age bands, expenditure on various categories is different with respect to spending, food preferences, health issues, apparel selection, leisure activities and financial instruments chosen for investments and upkeep. Stereotyping the elder people is not sound as within different age groups they behave differently. The Group C (Age band 75 -85) has broken many a stereotypical behaviour in the study across parameters of categories of spending, food preferences, health issues, apparel selection, leisure activities and financial instruments chosen for investments and upkeep. For marketers it is important to appreciate these distinctions and then create strategies to address to each of these segments differently with pragmatic approach. Hence, one can not ignore ageing population consumption needs in today’s economic meltdown.

Stream: Globalisation

Paper: A paper has not yet been submitted.

Been with my institute for 15 years. Involved in MDP, consultancy, research, syllabus designing and is an approved guide in Marketing area in University of Pune. Subjects handled at postgraduate level are business communication, Self growth training in Human Resource Management & Marketing Management (including specialization areas). Is undergoing Professional Development in sensitivity training. Has been awarded second prize in “Innovations in teaching” in by University of Pune.