9 - SocialClassandHousehold Influences Marketing3250...

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Social Class and Household Influences Marketing 3250 November 9, 2009
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Some Interesting Facts. .. In 2006, the top 1% wealthiest  individuals accounted for 20% of the  nation’s income This percentage is more than twice  what the top 1% wealthiest individuals  commanded 30 years ago
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Income Inequality 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% <$25,000 $35,000-75,000 $75,001-199,999 $200,000+ Source: Economic Policy Institute, “Census provides glimpse into U.S. living standards”, http://www.epinet.org/content.cfm/datazone_acs_index
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Social Class Social class hierarchy: some  consumers have higher status  than  others This status can he: Inherited status: adopted from parents  at birth Earned status: acquired later in life  from achievements
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7 Social Class in the U.S. Upper-upper Lower-upper Upper-middle Middle class Working class “A lower group of people but not the  lowest” “Real lower-lower” See text for details
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Class Structure Across  Cultures
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How Can We Determine  Social Class? Income   Social class Why is this? Occupation is the greatest determinant of  class standing (closely related to education) Note: perceived status of an occupation may  vary from culture to culture Other indicators? Residence, possessions, family background,  social interactions
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Avg. Annual Earnings Full-Time  Workers 25-64 Yrs Old $0 $20 $40 $60 $80 $100 $120 Not H.S. Grad. H.S Graduate Some College Associate's Bachelor's Master's Professional Doctoral Degrees In $ Thousands In $ Thousands
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Status crystallization: when  consumers are consistent across  various dimensions (education,  income, occupation, area of  residence), social class is easy to 
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9 - SocialClassandHousehold Influences Marketing3250...

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