An understanding of baby boomers' attitudes toward financial services products in Ghana |
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| Authors: | Nana Owusu‐Frimpong Ogenyi Ejye Omar Frederick Mmieh |
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| Affiliation: | 1. Professor of Marketing and PhD Program Coordinator, Marketing & Communication Department, London Metropolitan Business School;2. Professor of Retail Marketing, Department of Marketing and Enterprise, University of Hertfordshire (United Kingdom);3. Lecturer of Applied Economics and International Business, and Coordinator of International Business, Brunel Business School (BBS) |
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| Abstract: | ![]()
This study employed a self‐completion questionnaire to determine the financial needs and specific market characteristics of baby boomers (BBs) in Ghana. The results reveal that BBs are financially savvy and conscious of where to live after retirement. Due to low income and overreliance on families in time of sickness, life insurance is not often purchased. The respondents choose a bank that offers efficient customer services and low rates of interest on loans, and do not perceive long‐term investment to be profitable. The most effective forms of communication are radio, TV, and word of mouth. © 2011 Wiley Periodicals, Inc. |
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