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Based on Schiffman and Sherman’s conceptual model of the new‐age elderly this article constructs a measure that identifies this segment of elderly in terms of their value orientation. The findings show that older consumers’ value orientations are an effective segmentation approach; one that is superior for partitioning the market for services like leisure travel than the traditional age‐based segmentation approach. Marketing strategy implications of the findings are also discussed.
Mathur et al. (Sat,) studied this question.