Deck 12: The New Aging Marketplace: Hope or Hype

Question 1

Promotion of anti-aging products is based on age denial and tends to reinforce attitudes of ageism widespread in our society.

Answer 1

True

Question 2

According to Moody and Sood, the Dove campaign called "Pro-Age" focuses on a line of personal care products. This campaign is an example of which kind of age branding?

A) Age-irrelevant
B) Age-affirmative
C) Age-adaptive
D) None of the above

Answer 2

B

Question 3

According to a recent Nielsen report on marketing to boomers, 33% of social media users are boomers.

Answer 3

True

Question 4

Consumers who fall into the "old-old" age category are often concerned about which of the following issues?

A) Financial security
B) Failing health
C) Assisted living
D) Both A and B
E) Both B and C

Question 5

The 50-plus segment of the U.S. population controls three-quarters of the total net worth and financial assets of the country, or more than _______.

A) $3 billion
B) $7 billion
C) $7 trillion
D) $9 trillion
E) None of the above

Question 6

Marketing to older consumers will be most successful if it:

A) Uses models a bit older than the customers they are aiming at
B) Offers products that meet genuinely perceived needs
C) Focuses on the problems of later life
D) Treats all older people as alike
E) All of the above

Question 7

According to the essay from The Economist, companies have been quick to focus on the expanding older adult market.

Question 8

Consumers over age 45 comprise what business analyst David Wolfe calls "the new customer majority."

Question 9

The American Medical Association supports the anti-aging movement.

Question 10

Marketing for the drug Viagra is an example of which kind of age branding, according to Moody and Sood?

A) Age-irrelevant
B) Age-affirmative
C) Age-adaptive
D) None of the above

Question 11

According to George and Whitehouse, here is clear empirical support for the efficacy of brain fitness training programs for significantly improving brain health.

Question 12

Market segmentation entails marketing to consumers based on chronological age alone.

Question 13

What are some of the prevalent stereotypes about older consumers? Provide examples and discuss how marketing to older consumers needs to be reoriented in order to be successful in responding to the emerging age wave.

Question 14

Older people tend to think of themselves as younger than their actual age.

Question 15

Which of the following are examples of new and emerging "silver industries"?

A) Travel
B) Financial services
C) Healthcare
D) All of the above
E) None of the above

Question 16

The older adult market can be differentiated according to distinct segments, whether based on age or other characteristics. These segments include:

A) Health status
B) Life-stage transitions
C) Socioeconomic status
D) All of the above
E) None of the above

Question 17

According to Weintraub, exercise is probably the only anti-aging regime that exists.

Question 18

With the 25- to 44-year-old population now shrinking, companies will increasingly need to reach older age groups in order to be successful.

Question 19

The "oldest-old" are more likely to be purchasers of leisure services and retirement housing.

Question 20

The dramatic increase in the older consumer population is a trend that is limited to the United States.

Question 21

The author of The Grey Market summarizes several examples of ways that some firms are trying to understand older consumers better. Discuss these efforts. What do you think about these specific approaches, as well as the more general "grey market" idea.

Question 22

The authors of Marketplace of Memory critique the brain fitness movement. What are examples of brain fitness products being marketed to boomers and older adults? What are the authors' major concerns about this movement?

Question 23

Discuss the authors' proposal for community-based interventions to improve brain health. What are the characteristics of such interventions?

Question 24

According to the U.S. Department of Labor, careers in aging are expected to be a high-growth area during the next decade. Opportunities for providing services to older people as well as those with disabilities are projected to grow by 74% between 2006 and 2016. What are some of the new or emerging opportunities for providing services to older persons?

Question 25

According to Furlong, the boomer market is misunderstood by many businesses "that assume all boomers share the same tastes and passions, and that 60 'then' is the same as 60 'now.' In fact, the boomer generation represents hundreds of market segments." What are some of the market segments Furlong identifies? Are there any potential segments she has left out of her discussion?

Question 26

Furlong asserts that the shared values and attitudes of the boomer generation have "transformed consumer behavior at every stage of life so far, and the next stage will be no exception." Given what you read in Controversy 11 regarding the boomers, as well as the ideas explored by Furlong, do you agree or disagree with this strong statement? Discuss. ?

Question 27

Moody and Sood identify four different "families" of age brands that represent distinctive cultures of aging. Discuss these four different "families" and provide examples of each kind of age brand.

Question 28

Weintraub claims that the idea of growing older is "repugnant" to the baby boomers. Think about mid-life and older adults you know. Does this generalization ring true to you?

Question 29

Furlong suggests that for the boomers, each life-stage transition will trigger business opportunities. What are some of these life-stage transitions?

Question 30

There are several life-course transitions that older adults often experience in common and around which product development and marketing can be organized. What are some of these common transitions? If you were going to develop a marketing campaign around one of them, what might you do?

Question 31

The marketplace model of older consumers has both strengths and weaknesses. Discuss these and provide examples. Are there any emerging social trends that might exert an influence on marketing to older adults?