Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

consumer behavior > chapt 12 income and social class > Flashcards

chapt 12 income and social class Flashcards

1
Q

when people age and income levels rise the share of the budget for what gets bigger and what gets smaller

A

bigger- housing and transportation smaller- food and clothing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

the money available to a household over and above what it requires to have a comfortable standard of living.

A

discretionary income

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

T/F How we spend doesn’t vary, based in part on our attitudes toward money.

A

F

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

what is an example of a taste culture?

A

upper and upper middle class like museums and live theatre while middle class more liekly to go fishing and camping

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

what is the college wage premium?

A

the gap between what workers with a college degree earn compared with those without one

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

what are 3 factors that determine ones social class?

A
  1. income 2. family background 3. occupation
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

which luxury atttitude has consumers that want to be extremely lavish and self indulgent?

A

luxury is an indulgence

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

peoples desires to provide prominent visible evidence of their ability to afford luxury goods

A

conspiicuous consumption

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

mebers of every society divide into what?

A

the haves and the have nots

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

what are the 2 factors that contribute to an overall upward income trajectory?

A
  1. shift in womens roles 2. increase in educational attainment
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

what is a tighwad?

A

experiences pain at handing over money

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

what luxury attitude has consumers that have a more emotional approach and are most likely to make impulse purchases?

A

luxury is an indulgence

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

T/F Individuals’ desire to make a statement about their social class, or the class to which they hope to belong, influences the products they like and dislike.

A

T

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

what is invidious distinction?

A

when we use buying things to inspire envy in others through our display of wealth or power

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

what is the mass class?

A

the many millions of people how enjoy a level of purchasing power thats sufficient to let them afford high qulaity products expect colledge housing and luxury cars

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

which luxury attitude has consumers that pay a premium for goods that express their individuality and make others take notice

A

luxury is an indulgence

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

what are the 3 types of social mobility?

A

upward downward horizontal- moves from one position to another thats roughly equivalent in social status

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

what is status signaling?

A

the extent to which a brand employs prominent signs of status such as a well known logo on merchandise

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

worldview of someone who tries to be open to the world and strives for diverse experiences

A

cosmopolitanism

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

which luxury attitude has consumers who do alot of extensive prepurchase research and make logical decisions rather than emotional or impulsive choices?

A

luxury is functional

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

what are the 5 problems with social class segmentation?

A
  1. Ignores status inconsistencies
  2. Ignores intergenerational mobility
  3. Ignores subjective social class
  4. Ignores consumers’ aspirations to change class standing
  5. Ignores the social status of working wives
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

karl marx said a persons realationship to what determined his position in societ?

A

the means of production

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

someone who refuses to sacrifice style but still achieves it on a budget

A

frugalista

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

what is a plutonomy?

A

an economy thats driven by a fairly small number of rich people

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

T/F worldview is not a way to differentiate among social classes

A

F

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

the passage of individuals from one social class to another

A

social mobility

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

what is parody display?

A

a sophisticated form of conspicuous consumption where one deliberately avoids status symbols…seeks status by mocking it (upper classes driving jeeps)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

what is consumer confidence?

A

beliefs about what the future holds

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

T/F Our confidence in our future, as well as in the overall economy, determines how freely we spend and the types of products we buy.

A

T

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

the gap between what workers with a college degree earn compared with those without one is called the?

A

college wage premium

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

which luxury attitude has consumers that have the desire to be successful and demonstrate this to others so they buy conspicuous items like expensive cars and homes?

A

luxury is a reward

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

a sophisticated form of conspicuous consumption where one deliberately avoids status symbols…seeks status by mocking it (upper classes driving jeeps)

A

parody display

33
Q

the display of blatant status symbols to ensure that others recognize ones luxury brands

A

brand prominence

34
Q

what is affluenza?

A

when well off consumers are stressed or unhappy despite of or even because of their wealth

35
Q

what is a better predictor of major nonstatus/nonsymbolic expenditures…. social class or income?

A

income

36
Q

what is the nouveau riche?

A

people who recently acheived their wealth and who dont have the benefit of years of training to learn how to spend it

37
Q

what is hedonic adaptation?

A

belief that to maintain a fairly stable level of happiness we tend to become used to positive and negative events in our lives

38
Q

middle and upper classes reporduce less than lower classes. this is called?

A

differential fertility

39
Q

what is discretionary income?

A

the money available to a household over and above what it requires to have a comfortable standard of living.

40
Q

what is the bottom of the pryramid?

A

the huge number of consumers that do not have enought purchasing power to buy 10,000 worth of products for themselves and their families

41
Q

what is homogamy?

A

when we marry people in a social class similar to our own

42
Q

when well off consumers are stressed or unhappy despite of or even because of their wealth

A

affluenza

43
Q

people for whom productive work is taboo

A

leisure class

44
Q

what is a spendthrift?

A

enjoys buying everything in sight

45
Q

products whose primary function is to communicate ones social standing to others

A

status symbols

46
Q

what is a taste culture?

A

differentiates people in terms of their aesthetic and intellectual preferences

47
Q

what are the 3 ways brand loyal consumers deal with counterfeiting?

A
  1. flight- stop using brand
  2. reclamation- go out of their way to emphasize their long relationship with the brand express concern that its image will be tarnished
  3. abranding- disguise their luxury items in belief that high status peeps dont need to display expensive logos like the lower status people do
48
Q

what is differential fertility?

A

middle and upper classes reporduce less than lower classes

49
Q

does social class affect access to resources?

A

yes

50
Q

what is a frugalista?

A

someone who refuses to sacrifice style but still achieves it on a budget

51
Q

which is more influential on class…..how money is spent or income?

A

how money is spent

52
Q

what is the single best indicator of social class?

A

occupational prestige

53
Q

what are status symbols?

A

products whose primary function is to communicate ones social standing to others

54
Q

people who recently acheived their wealth and who dont have the benefit of years of training to learn how to spend it

A

nouveau riche

55
Q

the extent to which a brand employs prominent signs of status such as a well known logo on merchandise

A

status signaling

56
Q

what is the leisure class?

A

people for whom productive work is taboo

57
Q

which is a better predictor of lower to moderately priced symbolic purchases….social class or income?

A

social class

58
Q

what is social class?

A

the overall rank of people in a society

59
Q

which luxury attitude has consumers who buy things that will last and have enduring value?

A

luxury is functional

60
Q

the phenomenon of conspicious consumption is most evident for what class

A

leisure class

61
Q

belief that to maintain a fairly stable level of happiness we tend to become used to positive and negative events in our lives

A

hedonic adaptation

62
Q

what culture differentiates people in terms of their aesthetic and intellectual preferences

A

taste

63
Q

what is conspicuous consumption?

A

peoples desires to provide prominent visible evidence of their ability to afford luxury goods

64
Q

the top fifth of social classes controls what percentage of all assets?

A

75%

65
Q

why must there be more likely upward mobility in our society?

A

middle and upper class reproduce less and restric family size alot to below replacement level

66
Q

what is cosmopolitanism?

A

worldview of someone who tries to be open to the world and strives for diverse experiences

67
Q

the overall rank of people in a society

A

social class

68
Q

Is occupational prestige stable over time and similar across cultures?

A

yes

69
Q

what age group accounts for about half the discretionary income

A

35- 55

70
Q

T/F We group consumers into social classes that say a lot about where they stand in society.

A

T

71
Q

what is brand prominence?

A

the display of blatant status symbols to ensure that others recognize ones luxury brands

72
Q

what 3 factors affect the savings rate?

A

Pessimism/optimism

World events

Cultural differences in attitudes toward savings

73
Q

an economy thats driven by a fairly small number of rich people

A

plutonomy

74
Q

consumers views of luxury goods are based on what 3 attitudes?

A
  1. luxury is functional- buy things that last and have enduring value 2. luxury is a reward- use luxury good to say i’ve made it 3. luxury is an indulgence- want to be extremely lavish and self indulgent
75
Q

when we use buying things to inspire envy in others through our display of wealth or power

A

invidious distinction

76
Q

when we marry people in a social class similar to our own

A

homogamy

77
Q

which luxury attitude has consumers that use these goods to say they’ve made it?

A

luxury is a reward

78
Q

what is social mobility

A

the passage of individuals from one social class to another

79
Q

which is a better predictor of expensive , symbolic products social class or income?

A

need both

consumer behavior (5 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions