Chapter 12 review - 1 a i Consumerbehavior(1...

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1) Chapter 12-Income and Social Class a) Consumer behavior and economic behavior i) Consumer behavior (1) The process of buying, selling, and interacting with goods-from purchase to  disposal-in order to satisfy needs and desires ii) Economic behavior b) The value shopper i) Those who like low prices, and cannot afford much more c) Discretionary income i) Income that is not used to pay for essentials (food, housing etc.) and therefore can  be spent on items at the holders discretion d) Money Personality i) A person’s tendencies with liquid income, whether they are a tightwad, or a  spendthrift e) Walmart study i) Brand aspirationals (1) People with low income, that are obsessed with name brands like kitchen aide ii) Price sensitive affluents (1) Wealthier consumers who are interested in deals and low prices iii) Value Price shoppers (1) Those who like low prices and cannot afford much more
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Chapter 12 review - 1 a i Consumerbehavior(1...

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