Social Class and Lifestyle

• What are the key factors influencing consumer spending and economic behavior?

  Income patterns, employment patterns, dual income households
• What is discretionary income?

  Income available for spending after necessities
• What does GfK Retail Purchasing Power measure?

  Consumer spending capacity in retail
• How is social class defined according to Engel et al.?

  Divisions in society based on shared values
• What are the characteristics of social class?

  Multidimensional, hierarchical, dynamic, homogeneous
• What determines a consumer's social class according to Kahl?

  Occupation, personal performance, interactions
• How does social class influence consumer spending?

  It affects how much and how money is spent
• What is social stratification?

  Distinctions among members based on superiority
• How do consumers view money differently?

  Views vary widely across different social classes
• What are the differences between middle class and working class consumer behaviors?

  • Middle Class:
  • Future-oriented
  • Long-term view
  • Urban identification
  • Greater sense of choice
  • Working Class:
  • Present and past orientation
  • Short-term view
  • Rural identification
  • Limited sense of choice
• What are the classifications of social class mentioned?

  Upper America, Middle class, Working class

  
• What does the Gilbert-Kahl classification focus on?

  Social class distinctions and characteristics
• How does social class predict purchases with symbolic aspects?

  It is a better predictor for low-to-moderate prices
• What is the relationship between income and major expenditures?

  Income predicts major expenditures without status
• How do social class and income data together influence purchases?

  They predict purchases of expensive, symbolic products
• What are the distinctions between old money and nouveaux riches?

  • Old Money:
  • Based on ancestry and lineage
  • Nouveaux Riches:
  • Status anxiety and purchasing behavior
• What is Bourdieu's concept of 'habitus'?

  Links social position to consumption practices
• What types of capital are important in distinguishing social classes?

  Cultural, economic, and social capital
• How does lifestyle relate to consumer identity?

  • Reflects choices in time and money
  • Comprises activities, opinions, norms, values
  • Defines who one is and is not
• What are the determinants of lifestyle?

  Attitudes, interests, opinions, background variables
• What is the significance of lifestyle profiles?

  They represent personal statements of identity
• What are the key issues raised by Lee et al. regarding social class and brand logos?

  • Relationship between social class and conspicuous consumption
  • Impact of status on gift choices