Hybrid Cars Boost Boomer Self-Esteem
Paying more to "go green" in a hybrid car may result in self-esteem and image boost for older drivers, according to a study done at Baylor University in Waco, Texas and published the journal Human Factors and Ergonomics in Manufacturing and Service Industries.
A release from the university notes that the finding is significant because some segments of the older-consumer population control a considerable share of the discretionary income in the United States, and the population size of the "mature market" is growing rapidly.
The researchers analyzed a national cross-sectional survey of 314 consumers age 60 and older who had bought hybrid cars. The study showed that their satisfaction was influenced by social values -- including pride and prestige -- as well as quality and price, not only in vehicle purchase but in future savings on gasoline expenses.
Those three variables -- social value, price, and quality -- are significant in enhancing senior citizens' customer loyalty as shown by repurchase intention and positive word-of-mouth, according to researcher Jay Yoo Ph.D. Emotional values such as excitement did not significantly influence the purchase intention or satisfaction of the car buyers.