Chapter 4 Flashcards
Generation or Age Cohort
a group of person who have experienced a common social, political, historical and economic environment
Class to mass
expanding opportunities for less affluent consumer to afford luxury
Cognitive age
one’s perceived age, a part of one’s self-concept
Cohort analysis
is the process of describing and explaining the attitudes, values, and behaviors of an age group as well as predicting its future attitudes, values, and behaviors
Conspicuous consumption
act of buying many things, especially expensive things that are not necessary to one’s life, done in a way that makes people notice the buyer’s having bough the merchandise
Demographics
described a population in terms of its size, distribution and structure
Generation
a group of person who have experienced a common social, political, historical and economic environment
Gerontographics
one segmentation approach to the mature market that incorporates aging processes and life events related to the physical health and mental outlook of consumers
Index of Social Position (ISP)
is a two item index that is well developed and widely used
Mature market
general defined as consumers 55 years of age and over
Multigeneration household
two or more adult generations or with both grandparents and grandchildren under the same roof
Multi index indexes
take into account number variable simultaneously and weight these according to a scheme that reflect societal views
Nouveaux riches
rich people who acquired their wealth within their own generation, allowed social mobility and proved the means for conspicuous consumption
Single item indexes
estimate social status on the basis of a single dimension such as education, income, or occupation
Social class system
hierarchical division of a society into relatively distinct and homogeneous groups with respect to attitudes, value and lifestyles
Societal rank
one’s position relative to others on one or more dimensions valued by society
Status crystallization
the extent to which different indicators of a person’s status are consistent with one another
Subjective Discretionary income (SDI)
is an estimate by the consumer of how much money they have available to spend on nonessentials
Working class aristocrats
these individuals are proud of their ability to do real work and see themselves as the often unappreciated backbone of America
