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Innovation Behavior of Older Consumers

An Empirical Analysis of Older and Younger Consumers’ Determinants of Consumer Electronic Products Ownership

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Armin Tank

This book picks up two mega trends: On the one hand population figures demonstrate the structural transition of the majority of western industrial nations. This demographic change has manifold consequences, especially on companies and their clients. On the other hand most of the markets are characterized by increasingly shorter product life cycles and global competition. The commercialization of innovations represents one possibility to remain competitive in this environment. The author connects important aspects of these two subject matters and identifies existing differences in the consumer behavior of older and younger individuals regarding innovative consumer electronic devices – a product category that is characterized by an exceptionally high pace of innovation.

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Figure 1: Development of the male and female median age from 1950 to 2060...................................................................................................... 2 Figure 2: Schematic representation of the dissertation structure....................... 14 Figure 3: Population forecast for Germany until 2060...................................... 22 Figure 4: Age structure of the German population in 1910, 1950, 2008, and forecast of the 2060 population................................................... 24 Figure 5: Age structure comparison 2008 vs. 2060 in Germany....................... 25 Figure 6: Age structure of USA......................................................................... 28 Figure 7: Age structure of Ethiopia ................................................................... 29 Figure 8: One person households in Germany .................................................. 30 Figure 9: Male and female single households in Germany ............................... 31 Figure 10: Multimorbidity for selected age groups ............................................. 37 Figure 11: Percentage of people per age group living in nursing homes ............ 38 Figure 12: Schematic representation of the information processing model ........ 39 Figure 13: Schematic representation of the development curves of different intelligence types over life-span......................................................... 42 Figure 14: Time spending patterns of men and women of different age classes by activity category (in hours:minutes per day) .................... 45 Figure 15: Employment ratios of different age classes in 1996, 2002, and 2008.................................................................................................... 57 Figure 16: Gross household income gained through employed/self- employed work for different age classes............................................ 57 Figure 17: Gross income sources of persons aged 65 years and older in Germany ............................................................................................. 59 Figure 18: Net household income of different age classes in Germany.............. 59 Figure 19: Average assets per household of different age classes in Germany ............................................................................................. 60 Figure 20: Estimated total net money assets of German households .................. 62 Figure 21: Average expenses of German households...

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