Exploring Senior Living Alternatives to Institutional Care: Differences between Residents and Non-residents

Abstract

The demand for senior living will continue to increase as America ages. There are various types of senior living facilities, but continuing care retirement communities (CCRCs), or life care communities, have become quite popular. They offer a wide selection of services for residents. This study focused on a particular CCRC and examined the differences between two groups: CCRC residents and non-residents, that is, those who considered CCRC residency but decided against it. First, a consumer profile was developed, detailing the characteristics of the typical CCRC resident. Then, various psychographic variables were analyzed to compare the two groups: cognitive age, advice from friends, family and salespeople, attitude towards the advertising, involvement and self-image or self-concept. T-tests revealed significant differences between groups regarding cognitive age, salespeople advice and self-image or self-concept. Implications for marketers are discussed and directions for future research are provided.