Exam 12: Income, Social Class, and Family Structure

The proliferation of inexpensive counterfeit products threatens to diminish the value of some status symbols. One coping strategy is to stop using the brand because they don't want to be mislabelled as a lesser-status person who buys fake brands. This is known as:

How has the total fertility rate changed over the last century according to Statistics Canada? What impact does this have for marketers?

What modern Canadian ceremony would come closest in intent to a Native American potlatch?

The millions of consumers around the world who can now afford higher-quality products are referred to as belonging to the:

What is social stratification?

According to Karl Marx,the nineteenth-century theorist,a person's position in society was determined by their relationship to what?

Which is the primary growing consumer market in the Middle East at present?

Miriam comes from a background of old money. How might this affect her spending habits compared to her friend Harry who has recently done well financially?

Describe the concepts of social stratification and how it relates to achieved and ascribed status.

Mary is a doctor. Mike is a garbage collector. How would we define them in terms of occupational prestige? How does this relate to their social class?

Debra has a good job in a growing company,but has returned to live at home with her parents. What effect will this typically have on her spending behaviour?

People within the same social class tend to have similar lifestyles by virtue of their income levels and common tastes.

Achieved status is acknowledged when an individual obtains material wealth by some unusual good fortune,like winning the lottery.

Trisha grew up in a drug-ridden inner-city neighbourhood. Through sheer determination and intelligence,Trisha is now a medical doctor teaching on the staff of a large university hospital. Trisha is proud of what she has accomplished,but sometimes she feels like she isn't quite sure who she really is. The concept of ________ was developed to assess the impact of such inconsistencies.

The reason that people with more money tend to be happier than those with less money is because they:

The concept of social class has been valuable in marketing because it tells researchers how money is spent. Unfortunately,however,social class has failed to tell marketers how much money will be spent within each class.

Which sector of the population is largely responsible for fuelling Japan's luxury-goods spending?

Social mobility refers only to upward social class movement.

In what ways have marketers apparently failed to use social class information as effectively as they could?

Name and briefly explain five of the eight consumer segments identified in the Saatchi research report.