This study explores consumer needs of Korean older people derived from their perception of successful aging. Subjects of this study are 625 older men and women who are 65 years old and over. The findings of the study are as follows: (1) Older consumers expects ‘wellness of everyday life’, ‘self efficacy’ and ‘social integration’ as key elements of successful aging, which reflects safety needs, love and belonging needs, esteem and self-actualization needs repectively for their older life. (2) Older consumers are classified into 4 need groups based on how they perceive successful aging, and this result suggests that older consumers are not homogeneous, rather heterogeneous. (3) Older consumers across all the need groups show similar needs patterns in that they report highest level of safety needs while show lowest level of love and belonging needs. This result implies that older consumers may have higher needs for products and services to fulfill safety needs while showing lower needs for those to fulfill social activities and relationships. (4) Socio-economic resources and the degree of Korean traditional values are found to differentiate needs for older life among older consumers. Older people who have more resources show higher levels of consumer needs for their lives compared to those who have less reousrces.
This study explores consumer needs of Korean older people derived from their perception of successful aging. Subjects of this study are 625 older men and women who are 65 years old and over. The findings of the study are as follows: (1) Older consumers expects ‘wellness of everyday life’, ‘self efficacy’ and ‘social integration’ as key elements of successful aging, which reflects safety needs, love and belonging needs, esteem and self-actualization needs repectively for their older life. (2) Older consumers are classified into 4 need groups based on how they perceive successful aging, and this result suggests that older consumers are not homogeneous, rather heterogeneous. (3) Older consumers across all the need groups show similar needs patterns in that they report highest level of safety needs while show lowest level of love and belonging needs. This result implies that older consumers may have higher needs for products and services to fulfill safety needs while showing lower needs for those to fulfill social activities and relationships. (4) Socio-economic resources and the degree of Korean traditional values are found to differentiate needs for older life among older consumers. Older people who have more resources show higher levels of consumer needs for their lives compared to those who have less reousrces.
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