13_Income_and_Social_Class_S1

13_Income_and_Social - Chapter 12 Income and Social Class Environment Macro Social Physical Micro Culture Subculture Social Class Family Reference

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Chapter 12 Income and Social Class
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Macro Micro Social Culture Subculture Social Class Family Reference Groups Physical Weather Geography Store Layout Shelf Displays Environment 2
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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 on how consumption choices reflect one’s place in society Products as status symbols 3
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10 Quirky Economic Indicators of Behavior (Kiplinger.com) 1. Packed Theaters When times get tough, people go to the movies. Number of movie tickets sold in the first quarter of 2009 increased more than 9% from last year. 2. More Green Thumbs The National Gardening Association finds that the number of households that will grow their own fruits, berries, vegetables and herbs this year is 19% higher than in 2008. 3. More First Dates Online dating service Match.com notices a pattern in its site activity during tough times. Misery loves company! 4. Romance Novels Are Hot Time to bury your sorrows in a romance novel. 4
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10 Quirky Economic Indicators of Behavior (Kiplinger.com) 5. Droopier Eyes I The 2009 Sleep in America Poll found that nearly one-third of Americans lost sleep because they were worried about their finances. 6. Droopier Eyes II Americans spent $10.3 billion in 2008 to endure 1.7 million cosmetic surgeries, which is 9% less than in 2007. The American Society of Plastic Surgeons cites the bad economy. 7. Goopier Eyelashes The leading lipstick indicator – the past trend that lipstick sales rose in economic downturns as consumers settled for inexpensive luxuries – is not holding up. Lipstick sales are down 11%. But eye makeup has replaced lipstick as the indicator, devotees of this theory say. 5
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10 Quirky Economic Indicators of Behavior (Kiplinger.com) 8. Too Many Gators People just aren't buying alligator skin handbags and luggage. 9. Dry Cleaning Pickups Are Down Because of the poor economy, customers are visiting less frequently and leaving clothes longer. 10. More Mosquito Bites Huge numbers of foreclosed or abandoned homes have vacant swimming pools and unattended ponds. The stagnant waters – known as green pools -- are a hotbed for mosquito breeding. 6
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Other Economic Indicators of Behavior 1. Condom Sales Up 2. Pawn Business Doing Well 3. Selling Sperm and Eggs for Money 4. Recipe books 7
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Income Patterns The average American’s standard of living continues to improve due to: An increase of women in the workforce Increases in educational attainment 8
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Discretionary Spending Discretionary income Americans spend a much larger share of
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This document was uploaded on 11/04/2011 for the course MKGT 633 at S.F. State.

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13_Income_and_Social - Chapter 12 Income and Social Class Environment Macro Social Physical Micro Culture Subculture Social Class Family Reference

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