This Extra Credit Project involves interviewing both an elderly retired adult, as well as a working adult, to see if anyone has tried to scam them. It can be done by interviewing a grandparent, parent
Extra Credit Project 12 — Scams of the Elderly
O'Malley — Due (midnight) Date Specified in the Schedule
W
ithin five to ten years a large percentage of Americans (also true in other countries) will be retiring, and will shift from the producing economy to the strictly consuming economy. This is creating many marketing opportunities (e.g., growth in health-related services, growth in retirement communities/recreational facilities). But, the shift may make it harder for some firms to stay in business, as the gross national product will shrink with a smaller percentage of employed adults. Shady firms are already engaging in “scams” targeting elderly Americans. For instance, “firms” have been canvassing neighborhoods, & “inspecting” roofs “free-of-charge.” Post-“inspection” they approach the owner, and provide a “replacement” estimate for their damaged roof. This scam capitalizes on both lesser physical abilities and realistic financial fears of being unable to cover extraordinary expenses (e.g., roof leaks and associated damage) following retirement.
The purpose of this assignment is to determine to what scams both a retired, elderly person, and an employed other adult you know have been exposed. Do the types of products/services differ, or is there a difference between the frequency with which they have been approached? Do the following:
Interview an older (65+), retired individual who has been approached on a (suspected) scam. Find out the type of scam(s). When did this occur? What type of product or service was involved? (Please have the person complete and sign the attached demographic questionnaire.)
Interview a younger (25-55) individual who is working full-time and has been approached on a (suspected) scam. Find out on what type of scam(s) he/she was contacted. When did this occur? What type of product or service was involved? (Please have him/her complete and sign the attached demographic questionnaire.)
Do you see any differences in the type of scams on which each was approached? For instance, on the “roofing scam,” detailed above, the predicted: 1) lack of mobility, and 2) realistic financial fears of extraordinary expenses, given a fixed income, make the elderly an ideal “target market” (i.e., predictably more susceptible) for the scam. Alternatively, a scam with a product/service with greatest appeal to those short in discretionary time, might be better “targeted” at younger, fully-employed individuals.
4. Go to ftc.gov, the website of the Federal Trade Commission. Identify and report [turn in a link to the article(s)] a current business scam under investigation, and relate it to what you have found in 1-4, above. You may also find www.fraud.org and associated links to be helpful.
Demographic Information of Interviewee
(To be turned in with project.)
As part of a class assignment for the Bus. 324 class (Buyer Behavior) at the University of Idaho, this student has been asked to conduct two interviews with individuals he/she knows concerning possible business scams to which they have been exposed. One individual is to be an older, retired person. The other is to be someone who is still working full-time. Please fill out the following information and sign the sheet to indicate that you have participated in the interview. Thank you for your help.
Name (please print) Age Gender
Occupation (If retired, so indicate, along with previous occupation.)
Signature Date Phone ______________
(Note: If either Interview is conducted by phone, the student should sign the name of the interviewer and write “by your name.” In the case of such interviews, no credit will be given without the phone number of the interviewee, to facilitate verification.) Either take a picture or this form, or scan it, & include for each interview.
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Demographic Information of Interviewee
As part of a class assignment for the Bus. 324 class (Buyer Behavior) at the University of Idaho, this student has been asked to conduct two interviews with individuals he/she knows concerning possible business scams to which they have been exposed. One individual is to be an older, retired person. The other is to be someone who is still working full-time. Please fill out the following information and sign the sheet to indicate that you have participated in the interview. Thank you for your help.
Name (please print) Age Gender
Occupation (If retired, so indicate, along with previous occupation.)
Signature Date Phone ________________
(Note: If either Interview is conducted by phone, the student should sign the name of the interviewer and write “by your name.” In the case of such interviews, no credit will be given without the phone number of the interviewee, to facilitate verification. Either take a picture or this form, or scan it, & include for each interview.
