Culture & Demographics

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AdroitJadeite2449
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27 Questions

What is culture?

What are the levels of culture?

What are instrumental values?

What are terminal values?

What are other-oriented values?

What are environment-oriented values?

What are self-oriented values?

What is one aspect of demographics that influences marketing strategy?

What is green marketing?

What is greenwashing?

What is woke-washing?

What are sex-typed traits?

What are sex-typed products?

What are the three components used to describe a population's demographics?

What is a generation or age cohort?

What is cohort analysis?

What is the age range for baby boomers?

What is the main marketing consideration for targeting baby boomers?

What events shaped the generation X (baby busters)?

What percentage of the population do millennials account for in some countries?

What is the key concern for generation Z?

What is social stratification?

What is status hierarchy?

What is the income pyramid?

What is income-based marketing?

What is the Hollingshead Index of Social Position?

What is the significance of status symbols and conspicuous consumption?

Summary

Overview of Social Stratification and Consumer Behavior

  • Social stratification creates artificial divisions among people based on relative standing, power, or control in the group, resulting in some members getting more resources than others.
  • Allocations of resources may be based on merit or circumstantial factors like family connections, leading to achieved or ascribed status.
  • Status hierarchy refers to one's position relative to others on one or more dimensions valued by society, while the social class system is a hierarchical division of a society into relatively distinct and homogeneous groups.
  • Social mobility refers to the passage of individuals from one social class to another, such as horizontal, upward, or downward mobility.
  • Perception of social mobility can motivate or demotivate behavior, as shown in studies.
  • Income-based marketing involves developing a marketing strategy centered around a consumer's intention and ability to purchase, with two factors contributing to an overall upward income trajectory being shifts in women's roles and increases in educational attainment.
  • The income pyramid shows that affluent consumers account for a smaller share of the overall market, while low-income consumers make up 78% of the global population with purchasing power under $10,000 per year.
  • The 4 As (affordability, availability, awareness, and acceptability) can address the bottom of the pyramid, as shown in examples like a fridge designed in India that reduced energy consumption and reducing package size.
  • Upper classes are willing and able to pay for products and services that enhance the quality of their lives and are symbolic of their status, exemplified by status symbols like conspicuous consumption and brand prominence.
  • Measurement of social class can be done through single-item indexes like education, occupation, and income or multi-item indexes like the Hollingshead Index of Social Position, with the latter providing a more holistic measure.
  • Overall, an individual's social status influences several dimensions of their behavior, including consumption behavior, with status symbols and conspicuous consumption being significant factors.
  • Therefore, understanding social stratification and its impact on consumer behavior is crucial for marketers to develop effective marketing strategies that resonate with their target audience.

Description

Discover your knowledge of reference groups in sociology with this quiz on "Group Influences and Consumer Collectives: Reference Groups". Test your understanding of social interactions, culture, social class, and the family as they relate to the formation and influence of reference groups. Use keywords such as sociology, human behaviour, group dynamics, and social status in your title and description.

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