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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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Statistical Abbreviations and Symbols

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α Intercept of the regression line β Slope coefficient of the regression line ε Error term σX Standard deviation of the independent variable X σY Standard deviation of the dependent variable Y a Estimator for α bj Coefficient b (estimator for β / Partial regression coefficient of the independent variable j) bˆ j Coefficient beta / Beta (standardized coefficient of bj) ei Unexplained error/residual of observation i i Number of the particular observation j Specific independent variable k Number of independent variables n Number of cases / observations p Specific CEP tpop Partial regression coefficients in the total population w Index weights yi Observed value of the dependent variable Y for xi ŷi Estimated value of the dependent variable Y for xi y Mean of the dependent variable D Cook’s Distance J Number of independent variables R Multiple correlation coefficient R² Coefficient of multiple determination XXVIII R²pop Coefficient of multiple determination in the total population SSe Error sum of squares SSr Regression sum of squares SSt Total sum of squares X Independent variable Y Dependent variable Ŷ Estimation of the dependent variable Y % Percent / percentage

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