ch 14 The Mature & Gray Market

Gray Market
economic potential created by the increasing numbers of affluent elderly consumers
Chronological Age
actual number of years the person has actually been alive
Perceived age
how old a person feels
Reasons to target Seniors
Autonomy,Connectedness, Altruism
Altruism
mature consumers want to give something back to the world
Social Aging Theories
try to understand how society assigns people to different roles across the life span
Consumer Identity Renaissance
refers to the redefinition process people undergo when they retire
Revived identity
revitalization of previous identities
Emergent identity
pursuit of entirely new life projects
Connectedness
value bonds with friends and family
Autonomy
want to be self sufficient