Question 1

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

Accepted Answer

Promotion of anti-aging products often uses language that suggests aging is undesirable and something to be fought against. This reinforces the belief that aging is inherently negative, and contributes to ageism in society. By promoting products that claim to reverse or slow the aging process, these messages suggest that youth and beauty are superior to aging and imply that older individuals are less valuable or desirable.

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?

Accepted Answer

The "Pro-Age" campaign explicitly mentions the age of its target demographic (women over 50) and seeks to affirm and embrace this age group, making it an example of age-affirmative branding.

Question 3

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

Accepted Answer

The statement is true according to the Nielsen report.

Question 4

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

Accepted Answer

Consumers who fall into the "old-old" age category (85 years and older) often have concerns about their financial security and failing health. These consumers may worry about outliving their savings, managing healthcare costs, and the ability to care for themselves as they age. Thus, both options A and B are the most relevant concerns for this age group. C could be a concern; however, it is often more relevant for "young-old" consumers, who are still active enough to consider assisted living as an option.

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 _______.

Accepted Answer

The question asks for the amount of net worth and financial assets controlled by the 50-plus segment of the U.S. population. The only option that provides a plausible amount is C, $7 trillion. Therefore, the correct answer is C.

Question 6

Marketing to older consumers will be most successful if it:

Accepted Answer

Marketing to older consumers will be most successful if it offers products that meet genuinely perceived needs. It's important to understand that not all older people are alike and don't face the same problems. So, focusing on the problems of later life and treating all older people alike may not be the best approach. Using models a bit older than the customers they are aiming at can be helpful, but it's not the most important factor for success.

Question 7

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

Accepted Answer

The answer of According to the essay from The Economist,...

Question 8

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

Accepted Answer

Business analyst David Wolfe has indeed used the term "the new customer majority" to refer to consumers over age 45.

Question 9

The American Medical Association supports the anti-aging movement.

Accepted Answer

The American Medical Association does not officially support the anti-aging movement. In fact, the organization has raised concerns about certain anti-aging treatments and supplements that lack sufficient scientific evidence or regulatory oversight.

Question 10

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

Accepted Answer

The answer of Marketing for the drug Viagra is an...

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.

Accepted Answer

The statement is not accurate. George and Whitehouse (2011) conducted a systematic review of existing studies on brain training programs and found that the evidence for their efficacy is mixed and often methodologically flawed. While some studies report positive effects on cognitive function, others have failed to find any noticeable benefits. Therefore, the authors suggest that more rigorous research is needed to determine the true effectiveness of brain fitness programs.

Question 12

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

Accepted Answer

Market segmentation involves dividing a larger market into smaller groups of consumers who share similar needs or characteristics, such as demographics, interests, behaviors, or psychographics. While chronological age may be one factor considered in market segmentation, it is not the sole criterion used to target consumers. Marketers may also consider other variables, such as gender, income, education, location, lifestyle, values, or attitudes, to tailor their marketing efforts to different segments of the population.

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.

Accepted Answer

The answer of What are some of the prevalent stereotypes...

Question 14

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

Accepted Answer

This statement is generally true and supported by research. Studies have shown that older adults tend to have a more positive self-perception of their age and capabilities, often feeling younger than they actually are. This may be due to a variety of factors including social comparisons with their peers, health status, and cognitive biases.

Question 15

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

Accepted Answer

All of the above industries are considered "silver industries" as they cater to the aging population and are expected to grow in demand as the population ages. Travel and financial services can provide tailored services to meet the needs and preferences of older adults, while healthcare is an obvious industry that will see increased demand as the aging population requires more care.

Question 16

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

Accepted Answer

The older adult market can be differentiated according to distinct segments based on health status, life-stage transitions, and socioeconomic status. These factors can impact the types of products, services, and messaging that will effectively appeal to each segment. Therefore, choice D - "All of the above" is the best answer.

Question 17

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

Accepted Answer

Weintraub suggests that exercise is the only anti-aging regime that exists, indicating that all other supposed anti-aging measures may not be as effective.

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.

Accepted Answer

As the younger population shrinks, companies will need to target older age groups in order to sustain growth and success.

Question 19

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

Accepted Answer

The "oldest-old" (typically defined as those aged 85 and older) often have more significant health and mobility issues compared to younger elderly populations, which can limit their ability and interest in purchasing leisure services and retirement housing that cater to more active lifestyles.

Question 20

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

Accepted Answer

The dramatic increase in the older consumer population is a global trend, not limited to the United States. Many countries around the world are experiencing an aging population due to factors such as declining birth rates and increasing life expectancies.

Quiz 12: The New Aging Marketplace: Hope or Hype