Social Stratification and Consumer Behavior

These flashcards cover key concepts related to social class and consumer behavior, including definitions, principles, and differences in consumption patterns.

How does social class influence consumer behavior?

Social class shapes product preferences, shopping habits, perception of brands, and adoption of new products.

What are the four key principles of social stratification?

1) Represents a trait of society, not just individual differences. 2) Persists over generations. 3) Exists in all societies but varies in degree and configuration. 4) Involves inequality, beliefs, and ideology.

How are social classes categorized?

Upper class, middle class, working class, and lower class.

What types of products do upper classes prefer?

More expensive, exclusive, status-signaling products and services such as luxury cars and designer fashion.

How do spending habits differ between upper and lower classes?

Upper classes spend more on discretionary and luxury items; lower classes spend a higher proportion of income on necessities.

What influences lower classes' shopping habits?

Lower classes are more focused on functionality, durability, and value for money; they often shop at discount stores and budget retailers.

What is the 'trickle-down' effect in product adoption?

Products diffuse from higher classes to lower classes over time, often signaling aspirational value.

What factors influence brand loyalty in upper versus lower classes?

Upper classes are driven by emotional and symbolic factors; lower classes prioritize functional and economic factors.

What barriers do lower classes face regarding new product information?

Lower classes may experience information gaps and time lags, leading to delayed awareness of new products.

How does social class affect perceived risks associated with brand switching?

Upper classes perceive higher risks in switching from known brands, while lower classes see greater benefits in switching to cheaper alternatives.