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              Organizational structures  shape company’s value creation

              Organizational structures  shape company’s value creation

              What is Asset Specificity?

              What is Asset Specificity?

              Do you know who Owns Corporations?

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              Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

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                How to write an appropriate title 

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                Can India regain the title of Vishwaguru?

                Can India regain the title of Vishwaguru?

                What are the problems faced in online lectures?

                What impact can Knowledge have on Society?

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                Where in the world teachers are most respected?

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                  Importance of Citation in Research

                  What is Autoethnography style of PhD

                  Can scholarly articles/papers from blogs be cited in research work?

                  The complete guide on how to select the right PhD topic

                  All you wanted to know out how a PhD thesis is assessed?

                  Mixed Method Research is Most Suitable

                  What is the difference between economic bubble and economic boom?

                  How to write a Research Paper?

                  Case Study is one of vital type of research

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                    Impact of the Thucydides Trap and Clash of Civilization  on International Businesses

                    Impact of the Thucydides Trap and Clash of Civilization  on International Businesses

                    Launch of my book  titled “International Business”

                    Launch of my book titled “International Business”

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                    Gift City is becoming India’s Capital Gateway

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                    Ram Mandir tableau graced the 75th Republic Day of India

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                      Guiding 35 PhDs: A Journey of Mentorship, Transformation and Academic Fulfilment

                      The Story Behind the song “Khoya Khoya Chand” from Film Kala Bazar

                      The Story Behind the song “Khoya Khoya Chand” from Film Kala Bazar

                      Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

                      Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

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                      The story behind the Swedish word Lagom which means Just Enough

                      Lasting friendship between R.K.Narayan and Graham Green that shaped the famous film novel ‘The Guide’

                      Lasting friendship between R.K.Narayan and Graham Green that shaped the famous film novel ‘The Guide’

                      Mumbai’s Historic Single Cinema Screen Maintains Brand Loyalty of Marathi Cinema Viewers 

                      Why Memories are a fuel of our life

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                      What’s Age got to do with it?

                      Dr Vidya Hattangadi by Dr Vidya Hattangadi
                      September 26, 2022
                      in Marketing Management
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                      Ageism is prejudice or discrimination on the basis of a person’s age. It is stereotyping and discriminating against individuals or groups on the basis of their age in terms of their working capacity, spending capacity or buying aptitude. At times it appears casual and at times very systematic. The term was coined in 1969 by Robert Neil Butler to describe discrimination against seniors, which was patterned on sexism and racism. Butler defined “ageism” as a combination of three connected elements namely prejudicial attitudes towards older people, old age, and the aging process; discriminatory practices against older people; and institutional practices and policies that disseminate stereotypes about elderly people.

                      Age catches up with all of us, but in the marketing profession it catches up a bit too faster than anywhere else. Age is experience. Age is the time period a person or thing has survived till date. Age is a sign of survival. It is said that age brings wisdom. Age brings knowledge. But, the fact is age is just a number in our minds.

                      Every phase of life is important; one should experience each phase in life. Every age has its own essence. Be it a 1 year old child, 16 years old teenager, 35 years old man or a 90 years old man. We see different behaviours in people at different ages. Different marketers offer different interpretations of age. Jan Gooding, Global Inclusion Director at Aviva Insurance, believes that age discrimination has always been acute in advertising agencies; it might be lesser in client marketing departments.  She recalls her own experience of facing age discrimination in her mid-40s when, having run her own consultancy and worked as head of strategic communications at BT (British Telecommunications) for three years, she considered returning to agency management.

                      Disparity in employing older people: Behaviour is the way one conducts himself; it is the way one behaves. One’s behaviour is influenced by several factors like health, mentality, surroundings, society, culture, tradition and age is of course one of the parameters among others. We see 76 years old behaving more chirpy and happy than 36 years old. Therefore disparity in employing older people is certainly not rational. This disparity in employing older people varies sector by sector. But, we see great discrepancy in the beauty sector, where 44% of marketers feel older people are either under-represented or not represented.

                      While young people have boundless energy and they offer a certain valuable perspective to a business, we also see that most people improve with age, and have decades of experience and wisdom that can’t be matched by someone few months or few years out of college. I would love to give an example of feminist icon Gloria Steinem. At 80 plus years, which is practically considered dead by Silicon Valley employers, Steinem dint withered away since her activist days in the ’70s. In fact, according to her friend and fellow activist Robin Morgan, she is more effective than ever. “She is a better organizer now than she ever has been. She’s a better persuader. She’s a better writer than she ever has been if she’d give herself the time to sit down and write,” Morgan told the New York Times recently. Throughout her life as a public figure, Steinem has continued to reshape the way people view aging, pushing back against the misguided ageism in American culture. At 40, she famously came out, so to speak, telling a reporter “This is what 40 looks like.” At the time, it was common for women over 30 to lie about their age. Since, she has stormed into each new decade proudly, and claims to love getting older. In her own words fifty was a shock, because it was the end of the centre period of life. But when she turned 60 she looked and behaved great. Seventy was greater. She has always loved aging. Her mantra is “we don’t have anything permanent, so go on with life” If anything changers periodically, it is our age.

                      The number of 60 plus older is growing in developed and developing nations all over the world. But as a society we are still are not ready to embrace the aging population, gereopsychologists (psychologists who work with old age related problems) say that those who are 60 or older may all too often find themselves the victims of ageism. In fact, in a survey of 84 people ages 60 and older, nearly 80 percent of respondents reported experiencing ageism–such as other people assuming they had memory or physical impairments due to their age, which is not true at all.

                      Message to marketers: Need is necessity. There is a very slim line of difference between need and want; needs describe basic human requirements such as food, air, water, clothing and shelter. But, people also have strong needs for recreation, education, and entertainment. These needs become wants when they are directed to specific objects that might satisfy the need. Need recognition is the basic step in the buying process. Every age has a different list of needs. It depends on an individual’s age to decide whether a product is a need or not. This process of need recognition is greatly influenced by the age factor of the buyers.

                      But, we see 60-70 years old guys buying products and services enjoyed by teenagers. In terms of their general behaviour, seniors tend toward seasonal migration to warm climates and to earlier bedtimes. Two distinct sub segments seem to exist–the “young old,” aged to 74, and the “old-old,” those 75 and above. The young-old are active, vibrant, and healthy. The old-old are less healthy, more sedentary, and less sharp in their mental and physical abilities. There are twice as many young-olds as there are old-olds. The elderly increasingly exhibit a trend toward “gray pride” which is a positive identification with their age and away from the negative stereo-type as ’poor’, ‘depressed’, ‘physically deteriorated’, and ‘inactive’. Perhaps the most impressive difference between oldsters and younger age groups is the combination of flexible time and money. The purchasing power of this segment has been estimated at between $60 and $200 billion. So you find them everywhere – night clubs, dance floors, yachting, paragliding, jungle safaris, playing tennis and cricket. They like to buy flashy clothes, variety of foods and beverages. They like to go driving, shopping movies etc. Lets the marketers not use the older demographic notion of buying behaviour.

                      The world is experiencing an exceptional increase in average life expectancy and population aging, described as a revolution in longevity. In the twentieth century, the industrialized world gained some 30-40 additional years of life, greater than had been attained during the preceding 5,000 years of human history and transforming what was once the experience of the few to the destiny of many. It is time that marketers must realise that they must discard ageism from their dictionary. The so called “aged” population is economically liberal, knowledge, maintains good health and most importantly, is ready to ENJOY life.

                      Tags: Ageismand lifespan.buyer behaviourdemographicsDrDr. Vidya Hattangadineedold-oldwantyoung old
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                      Dr Vidya Hattangadi

                      Dr. Vidya Hattangadi is an accomplished academician, researcher, and thought leader with over four decades of combined experience 20 years in managerial roles in industry and 24 years in management education. She holds a PhD in Marketing Management from Savitribai Phule Pune University and a D.Litt. from the University of Mumbai for her post-doctoral published work. She is a prolific writer and blogger, Dr. Hattangadi runs the widely read blog www.drvidyahattangadi.com, which enjoys strong organic traffic and engages readers across a broad spectrum of subjects, including management, leadership, psychology, social trends, music, current affairs, and politics and psychology. Her blog is 12 years old. Her experience of combining knowledge of industry work with an academic background creates a powerful, "pracademic" profile that bridges the gap between theoretical knowledge and practical application. This hybrid approach has made her a powerful Professor in the classrooms and she has produced graduates who are not just knowledgeable, but industry-ready. She worked for Maratha Mandir’s Babasaheb Gawde Institute of Management Studies as Director, Research Head and Professor. She has written a fortnightly column for The Financial Express from 2017 to 2021 and has contributed extensively to leading publications such as The Hindu, Free Press Journal, and The Economic Times. Her articles are known for their analytical depth, clarity, and relevance to contemporary issues. Dr. Hattangadi has successfully guided 35 PhD scholars in Management Studies across institutions such as the University of Mumbai, SNDT Women’s University, and Yashwantrao Chavan Maharashtra Open University (YCMOU) and Guglielmo Unimarconi Italian University. Currently, she is working on her YouTube channel "Vidya's Vidya" mentoring doctoral researchers in the areas of Finance, Strategic Management, Organizational Behaviour, Human Resource Management, and Marketing Management. She is an accomplished author, she has written books on Strategic Management, Buyer Behaviour, International Business and Entrepreneurship Management, Faith Economy, contributed chapters to four edited volumes of books, and published over 350 research papers in national and international journals. Her scholarly work has strong visibility and impact, reflected in her robust presence on Google Scholar, Research Gate, Vidwan etc. Her research in all fields of management studies is truly ground-breaking. The rigor and depth of her knowledge have set a new standard in our field of management studies.

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