Exam 12: Income, Social Class, and Family Structure

One problem in assigning people to a social class is status inconsistency. For example,consumers who earn at least 15 percent less than the median for their class must often make certain sacrifices to maintain the appearance of living up to class expectations. They are said to be:

The money available to a household over and above that required for a comfortable standard of living is termed:

________ is the classification scheme that segments consumers in terms of changes in income and family composition and changes in demands placed on income.

Jackie is a wage earner in her house. Her husband,Ed,also works but is able to take two days off a week to look after their two young preschool children. In Canada,is this a common or unusual scenario?

Albert accounts for every penny he spends because he would rather save money than spend it. Doreen,his wife,complains he is a "tightwad." Is she right? Explain.

Conspicuous waste is the opposite of conspicuous consumption because one is aimed at showing how important a person's wealth is,and the other is aimed at showing how unimportant his or her wealth is.

In 2013,according to Statistics Canada,what approximate percentage of Canadians had a college diploma and/or university degree?

The proliferation of inexpensive counterfeit products threatens to diminish the value of some status symbols. One coping strategy is to disguise the item in the belief that truly high-status people do not need to display expensive logos. This is known as:

How might Qin Yao's lifestyle and spending habits differ from Charlene's? Charlene lives in a middle-class household in Toronto,Canada,and Qin Yao lives in a middle-class household in Shanghai,China.

Canada has a(n)________ class structure in terms of income distribution and a(n)________ structure in terms of the groups that occupy the positions.

How does social class relate to consumer behaviour in China?

Strategic Business Insights,the research firm that developed VALS,divides consumers into three groups on the basis of their attitudes toward luxury. Those groups are:

Nick comes from the "other side of the tracks." His father spent all his life in the mine and Nick works as a sanitary engineer. All these factors determine his:

Miguel has worked very hard over the past ten years and has reaped the rewards of his labours by being named company president (salary $200000/yr.)However,even after his newfound wealth,he is unhappy. This condition is known as:

Spending on ________ can make people happier than spending on ________.

Margorie takes care of her aging mother and her grown son lives at home with her. How would you characterize her?

Sharon likes to take her Gucci handbag with her and makes sure she prominently displays the brand name to others. What does this likely say about her social class?

Johann seemed to have all the luck-some would say that he was "born with a silver spoon in his mouth." This is an example of:

What are some of the problems with the way market strategists often use social class segmentation information?

John is 28 and still lives at home. Which best describes his situation?