Publication Type
Journal Article
Version
acceptedVersion
Publication Date
1-2009
Abstract
We review existing knowledge about older consumers and decision making. We develop a conceptual framework that incorporates the notion of fit between individual characteristics, task demands and the contextual environment. When the fit is high, older consumers use their considerable knowledge and experience to compensate for the impact of any age-related changes in abilities and resources. When the fit is relatively low, older consumers feel increased need to adapt their decision making processes. We discuss these consumer adaptations and propose a number of research questions related to the processes underlying them in order to contribute to a better understanding of how they can lead to more effective consumer decision making for older adults. We further consider some pragmatic implications of the adaptations for marketing management and public policy.
Discipline
Gerontology | Marketing
Research Areas
Marketing
Areas of Excellence
Analytics for Business, Consumer and Social Insights
Publication
Journal of Consumer Psychology
Volume
19
Issue
1
First Page
2
Last Page
16
ISSN
1057-7408
Identifier
10.1016/j.jcps.2008.12.002
Publisher
Elsevier
Citation
YOON, Carolyn; COLE, Catherine A.; and LEE, Michelle P..
Consumer Decision Making and Aging: Current Knowledge and Future Directions. (2009). Journal of Consumer Psychology. 19, (1), 2-16.
Available at: https://ink.library.smu.edu.sg/lkcsb_research/1288
Copyright Owner and License
Authors
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://doi.org/10.1016/j.jcps.2008.12.002