Age-related patterns of consumer purchase decisions: A changing perspective

  • Gargi Dasgupta, Dr. DN Murthy

Abstract

Marketers lackcomprehensive understanding on the changing outlook of consumers across the age groups (younger, middle-aged and older) corresponding to their purchase decisions and motives for such decisions. While thepreference of buying additional products from an already using company increases with age, the desire for moving to new or alternative brands than the usually preferred ones, decrease with age, thereby, indicating the need to understand what is influencing personal buying decisions for a professional marketing business and for innovativeness in the product categories based on age groups. The present paper comprehensively considers the consumer purchase decisions across younger, middle aged and older groups within the domains of automobiles, FMCG and fashion apparels. In doing so, the present paper presents an extensive review of studies in the area of purchasing decision-making in the marketing domains and the latest trends that emerge there. The models and various phases of purchase decision-making were reviewed. Moreover, a framework of factors influencing customer purchase decision with emphasis on the age perspective was elaborated to possibly influence consumer behavior in the favor of well-established products. Furthermore, recommendations for marketers were suggested to effectively target customers, improve products of a company, and understand how policy makers and marketers should communicate differently with different age-groups of population.

Published
2020-08-01
How to Cite
Gargi Dasgupta, Dr. DN Murthy. (2020). Age-related patterns of consumer purchase decisions: A changing perspective. International Journal of Advanced Science and Technology, 29(7), 14451 - 14463. Retrieved from http://sersc.org/journals/index.php/IJAST/article/view/31258
Section
Articles