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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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Table 1: Overview of German dissertations dealing with older consumers ...... 7 Table 2: The 12 dimensions of gerontology..................................................... 19 Table 3: Population development of Germans who are 60 years or older (1950-2009)........................................................................................ 21 Table 4: Population development in Germany of selected age groups............ 23 Table 5: Countries with the worldwide oldest populations.............................. 26 Table 6: Prevalence of self-reported diseases .................................................. 36 Table 7: Rank order of critical life events with the highest stress value ......... 50 Table 8: Percentage of people per age class who are at risk of poverty .......... 61 Table 9: Average total expenses for private consumption per household in Germany ............................................................................................. 65 Table 10: Classification of innovation perspectives .......................................... 70 Table 11: Overview of studies dealing with the ownership of CEP ................ 123 Table 12: Percentage of DVR non-owners who are interested in DVR .......... 140 Table 13: Questionnaire items to measure age................................................. 158 Table 14: Further sociodemographic questionnaire items ............................... 159 Table 15: Questionnaire items to measure further preferences and attitudes of the respondents............................................................................. 159 Table 16: Questionnaire items to measure information source selection of the respondents................................................................................. 160 Table 17: Questionnaire items to measure situational influences.................... 160 Table 18: Operationalization of relative advantage (rel) ................................. 163 Table 19: Operationalization of product complexity (cx_prod) ...................... 164 Table 20: Operationalization of in-store complexity (cx_is) ........................... 165 Table 21: Operationalization of performance risk (r_perf).............................. 167 Table 22: Operationalization of financial risk (r_fin) ...................................... 167 Table 23: Operationalization of interest (int) ................................................... 168 Table 24: Operationalization of the psychological risk (r_psy)....................... 169 Table 25: Operationalization of self-efficacy...

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