Applying the disruptive innovation framework to the silver market

Abstract

Despite the increased attention that the topic of aging and technology is receiving from academia, policy and business practice, both conceptual and empirical research in this area is still scarce. Particularly, there seems to be a dearth of applications of well-grounded and established frameworks from the field of innovation and technology management to the case of older consumers and the "silver market." Through an approach that combines conceptual development with explorative empirical research using the disruptive innovation framework, we find that: 1) the silver market is an excellent field of application for low-end disruptions as elderly customers will increasingly demand just-good-enough performance-easy and safe to use-and affordable products and services; 2) the silver market is an excellent field of application for new market disruptions as elderly customers will increasingly demand new products and services they had not demanded or had not been able to demand before; 3) transgenerational and ageless products and services are an excellent field of application for disruptive innovations; 4) disruptive innovations for the silver market are particularly effective and easy to adopt and use due to their good-enough functionality and performance (including ease of use) and affordability, and this helps to increase their diffusion among older consumers. © 2010 Springer Science+Business Media, LLC.