As We Age, Our Values and Priorities Change

question 2

Essay

As we age, our values and priorities change. Researchers have identified a set of key values that motivate older consumers. Marketing strategies aimed at the gray market should relate to one or more of these motivational factors to be successful. Select one of them and describe how marketers have applied it. The key values are:
∙ Autonomy
∙ Connectedness
∙ Altruism

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Definitions:

Contribution Margin

The amount remaining from sales revenue after variable expenses have been deducted, indicating how much contributes to covering fixed costs and profit.

Fixed Costs

Expenses that do not vary with the level of production or sales, such as rent, salaries, and insurance premiums.

Unit Variable Cost

It's the cost associated with producing one additional unit of product, including materials, labor, and other costs that vary with production output.

Overall Product

The complete final product resulting from a manufacturing or production process.