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MICA's research colloquium hosts Prof.Roy,IIM Udaipur, for a talk on 'Consumption vulnerability of elderly citizens'

By : Guest on 09 December 2017 E-mail Print Report Abuse


The Research Colloquium of MICA on 7th of December hosted Prof. Subhadip Roy, IIM Udaipur, who enthralled the audience with his discourse on the perceived vulnerabilities and consumption patterns of elder citizens in the Indian context. Prof. Roy caught the audience’s complete attention by holding forth on the marketing implications of focusing on elderly citizens. He stated what needs to be explored and what can be explored to engage with the consumers is an entirely fascinating world in itself. The speaker gave important insight about the social and technological structures that are so important to understanding the needs and aspirations of the elderly consumers. Here, one of the first road blocks and problems that affect the elderly consumers and marketers alike is perceived consumption vulnerability. By this, the speaker meant that the need for finding socially acceptable solutions that enrich the lives of the older demography is a great challenge. Here, the solutions vary in terms of needs, focus and usage. Adding to this, the needs are also complicated and the solutions thereof due to lack of motivation on the part of the elderly citizens. What was even more disturbing was a sense of powerlessness arising from external conditions where the elderly citizens feel less respected and wanted. This leads to hindered consumption goals and creates a de-motivating perception.

 

Complicating this further was a lack of consensus if older citizens are vulnerable. Thus, there are issues with regards to the dimensions of consumer vulnerability. There may be common dimensions, but there is still a gap.  In all of this, what seems to get affected is the elderly population’s happiness and well-being. Also, the problems faced by citizens in India are different from the elderly in the West. However, there are physical, financial, psychological social and technological vulnerability. Here, the speaker and the audience were in consensus that marketers are not doing enough to reduce barriers and perceived vulnerabilities of elderly consumers. Finally, the speaker stated that his research was the gateway to an entire range of possibilities including perceived consumer vulnerability with advertising and the internet.

 

About MICA

Established in 1991, MICA is the first residential institute in the country and perhaps in the Asia-Pacific region, dedicated to creating Leadership in Strategic Marketing and Communication. 

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