Understanding and meeting the needs of elderly citizen in the Thesis

Understanding and meeting the needs of elderly citizen in the hospitality industry - Thesis Example Understanding and meeting the needs of elderly citizen in the hospitality industry After extensive literature review, the methodology was explained. The findings have been given in chapter IV and all objectives have been achieved. This was a qualitative study based on literature review and survey questionnaire. The study concludes that the elderly segment is a high potential group with several sub-groups within the group. The demographic changes pose several challenges to the hospitality sector but it is worth working towards these challenges. This is a heterogeneous group with their own characteristics. They are fun-lovers and have the money power to indulge in comfort, convenience and luxury, as their individual situation permits. Their needs depend not just upon the chronological age but also on the biological and the psychological age. The self-concept and the self-image also impact their needs and wants. All these again depend upon the level of education and income level. This has also given them the consumer power as they have better control over themselves, over their needs, over their expenses and how they want to use their money. They have reached a phase where they value their own self and would like to spend on self-development. The hospitality sector can benefit by taking note of the recommendations made in Chapter IV. This is a segment which offers tremendous scope for growth and the segment is growing. However, needs and wants keep changing with every generation and hence the hospitality sector should conduct regular surveys and the market research should be ongoing so that they can keep themselves abreast of the changing consumer preferences of the elderly segment. The study has made suggestion for further research on the subject before highlighting the imitations of the study. Table of Contents Chapter I Introduction 1.1 Background 3 1.2 Rationale for research 3 1.3 Research aims and Objectives 4 1.4 Significance of the study 5 1.5 Scope and limitation of the study 6 1.6 Structure of the study 6 1.7 Key terms 7 Chapter II Lite rature Review 2.1 Introduction 9 2.2 Global macro demographic shifts, challenges, changes 9 2.3 Characteristics of the elderly consumer behaviour 10 2.4 Different levels of needs of elderly citizen 12 2.5 Reasons why elderly travel 15 2.6 Summary of literature review 16 Chapter III Methodology 17 3.1 Research philosophy 17 3.2 Research phenomenon 17 3.3 Research approach 17 3.4 Research design 18 3.5 Role of the researcher 19 3.6 Data collection 19 3.7 Data Analysis 21 3.8 Ethical concerns 21 3.9 Reliability and validity 22 Chapter IV Presentation of Results 4.1 Introduction 23 4.2 Findings 23 4.3 Discussion 26 Chapter V Conclusion and Recommendations 5.1 Conclusion 31 5.2 Recommendations for further research 32 5.3 Limitations 33 References 34 Appendix 35 Chapter I Introduction 1.1 Background Countries all over the world have been experiencing a hike in the elderly population as the life span has increased. Along with the life span, the quality of life too has increased with advanc ements in technology and medication. Advancing age brings about changes in consumer needs, wants and abilities (Meneely, Strugnell & Burns, 2009). Many studies in the past have attempted to describe and understand the elderly consumer but the elderly consumer segment has gained importance in recent years because of their size and buying power (Meadow, Cosmas & Plotkin, 1981). The ageing