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Understanding the responses of 50 plus to marketing stimuli

India has been recognized as a young nation and most of the marketing attempts of the consumer
products and services focus on the youths of the country. In this project we are going to focus on
the marketing ideas to target the age 50 plus consumers. This segment currently forms roughly
16% of the population and is growing. Consumers in this category are mostly the household
heads, thereby have potential to influence the buying behavior of the family members. In this
study, we will see whether the associations created in minds of these consumers are in any way
different than their counterparts in other segments. Older consumers undergo lots of biological,
psychological and social changes and this may affect their attitude towards the brands which
were favorable in young age.

50+ age group consist of almost 15% of the overall population. People in this age group have
significant purchasing power. They also have the capability to influence the younger generation.
But they have largely been ignored by the majority of companies in their marketing campaigns.
Thus this project gives an opportunity to study one of the most potential but neglected age group
on which companies will be focusing in coming future.

Research Definition
In this project we are going to see whether the motivational factors needed for attitude formation
of the older consumers are different than the younger counterparts. We will also look at the
whether the responses vary across the media used to reach the consumer. Whether the processes
of learning and attitude formation and thereby purchase intention for an older consumer are
substantially different. How are the loyalties formed, how does the attitude change over their age

A four-step methodology will be followed for the project, described as follows:
1. Understanding the behavior of the 50+ age group through the literature survey and other
secondary study
2. Generating the hypotheses based on the initial study
3. Testing of Hypotheses will be carried out through primary study of the age group. Personal
interview and questionnaire based survey will be carried out as a part of primary study.
4. Final Recommendations will be given based on the output of primary study.

Scope & Limitation
Scope of the secondary study will be limited to the literature available in journals and online
databases. Primary study will be focused on people in and around IIM B campus. Project will be
primarily focused on studying the purchasing behavior of the people in the 50+ age group and
giving recommendation for tapping this potential segment.

We will be providing key insights across the various marketing elements like media to be used,
celebrities, cognitive factors and just noticeable difference levels etc. which are needed to be
looked at when targeting old consumers.

Start of term 4 June 9

Completion of Literature Review and Questionnaire 1
week of July
Final Submission with Primary Studies and Insights 2
week of August

Preliminary Literature Review
Article: http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=10359571&site=eds-
live&scope=site Benefit Based Segmentation
This article talks about segmenting the older consumers. It says that the mere segmentation on
basis of income, gender etc. cant form the basis of creating marketing mix to target these
consumers. The article suggests benefit based segmentation. For eg. Inspiration for buying
organic food products for one person can be to stay healthy, own drive towards organic products
or both.
Article : http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=23115400&site=eds-
live&scope=site Power of Subjective Age
This article talks about drive of older consumers to behave in-line with the self concept. This
drive is also referred as self consistency. The self concept of older consumer is they perceive
themselves to be younger than they actually are i.e. their perceived age is lower than the
chronological age. This results into sometimes older consumers getting offended because of the
way they are addressed by marketers.
Article: http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=86892542&site=eds-
live&scope=site - Older by age, younger by mindset
This one talks about the fact that marketers need to get out of the notion that the 50+ age group
have no appreciation of aesthetics or production values. Author has emphasized on careful
segmentation and targeting of this age group.