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CB SESSION 10 INCOME AND SOCIAL CLASS

CB SESSION 10 INCOME AND SOCIAL CLASS - Income and Social...

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12-1 Income and Social Class CONSUMER BEHAVIOR
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12-2 Objectives When you finish this lecture, you should understand why: Both personal and social conditions influence how we spend our money. We group consumers into social classes that say a lot about where they stand in society. A person’s desire to make a statement about his social class, or the class to which he hopes to belong, influences the products he likes and dislikes.
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12-3 Consumer Spending and Economic Behavior General economic conditions affect the way we allocate our money A person’s social class impacts what he/she does with money and how consumption choices reflect one’s place in society Products can be status symbols
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