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Related Flashcards
Related Topics
Cards In This Set
| Front | Back |
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Demographics
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Objective, quantifiable, easily identifiable & measurable population date
examples: *education *age *gender |
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Discretionary income
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Money left after paying taxes & buying necessities
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___ of population move every year
___ % of all moves are in the same county |
-1/7
-60% |
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US employment is in..
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Services!
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Culture
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Group of people sharing a distinctive heritage
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Social class
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Classified consumers in the basic income, occupation & education
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Consumer lifestyle
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Way consumers & families live & spend time & money
-based on social & psychological factors & are influenced by demographics |
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Typical US hosehold income in US
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About $50,000
-US- top 1/5 = $100,000 + -lowest 1/5 = $21,000 - **the us standard of living has shown a steady trend upward |
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Class conscious
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A person who values that status of goods, services & retailers
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Percieved risk
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The level of risk a consumer believes exists, regarding the purchase of goods & services from a specific retailer
ex: *functional *physical *financial *social *psychological *time -reduced by retailer providing enough info for a shopper to feel comfortable in making decisions |
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Outshopping
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Consumers who travel long distances to stores
09-751 Snyder v. Phelps (03-02-2011) -tend to come from fringe trading areas -from the outskirts of the trading area -will drive far to go to a store |
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Blacks, hispanics & asians
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1/3 of US population; annual buying power= 1.7 trillion
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Consumer Social Factors:
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-culture
-social class - income, occupation, education, etc. -reference groups -family life cycle -household life cycle -time utilization |
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Family life cycle
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Describes how a traditional family moves from bachelorhood --> children --> solitary --> retirement
*at each stage, attitudes, needs, purchases & income changes |
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Household life cycle
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Incorporates life stages for both family & nonfamily households
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