Social Mobility and Its Impact on Consumer Behavior

These flashcards cover key concepts related to social mobility and its effects on consumer behavior, providing a review for students studying consumer behavior.

What is social mobility?

Social mobility refers to the movement of individuals up or down the socioeconomic ladder, affecting their consumption habits.

What are the forms of social mobility?

The forms include intragenerational mobility, intergenerational mobility, vertical mobility (upward and downward), and horizontal mobility.

What does upward social mobility lead to in terms of consumer behavior?

It increases disposable income leading to consumption of higher-quality, premium products and a greater emphasis on status-seeking.

How does downward social mobility impact consumer purchasing patterns?

It reduces disposable income, prompting consumers to shift towards lower-priced, value-oriented products and essentials.

What role does education play in social mobility?

Education serves as a driver of social mobility by improving job prospects and earning potential.

What marketing strategies should be used for upwardly mobile consumers?

Tailor messages to emphasize quality, status, and exclusivity of products to appeal to their desire for prestige.

What should brands offer to downwardly mobile consumers?

Accessible and affordable options focusing on value, durability, and essential features that fit their budget.

What is the impact of social mobility on marketing strategies?

Marketing strategies must adapt to changes in consumer preferences associated with their social mobility stage.