| A | B |
|---|
| demographics | a population in terms of its size, distribution, and structure |
| Why is population growth an important | If the growth of the total population slows or stops, many industries will face stable or declining demand |
| What trend(s) characterizes the occupational structure of the United State | Jobs are shifting to white collar/technical and away from blue collar. |
| What trend(s) characterizes the level of education in the United States | It continues to rise |
| Cyclical | trend(s) characterizes the level of income in the United States |
| subjective discretionary income | measures how much money consumers feel they have available for nonessential purchases. |
| age distribution of the American population | aging with the most rapid growth occurring in the 60 + groups |
| cognitive age | one’s perceived age, a part of one’s self-concept |
| age cohort | a group of persons who have experienced a common social, political, historical, and economic environment |
| Cohort analysis | the process of describing and explaining the attitudes, values, and behaviors of an age group as well as predicting its future attitudes, values, and behaviors. |
| Pre-depression Generation | those individuals born before 1930. |
| Depression Generation | group born between 1930 and 1945 |
| Baby Boomer Generation | end of World War II and 1964 |
| Generation X | born between 1965 and 1976 |
| Generation Y | born between 1977 and 1994 |
| Tweens | born after 1994 |
| social class system | The hierarchical division of a society into relatively permanent and homogeneous groups with respect to attitudes, values, and lifestyles |
| Working class | occupation involves some degree of manual labor, either skilled or unskilled. |
| class to mass | A movement by retailers to offer less expensive “new luxury” goods to less affluent segments. |
| upward-pull | allows class to mass to operate. |
| Multi item and single item indexes | two basic approaches used by marketers to measure social class |
| Household | is described as “the basic consumption unit for consumer goods |
| a nonfamily household | is a householder living alone or exclusively with others to whom he or she is not related |
| blended family | A family consisting of a couple, one or both of whom were previously married, their children, and the children from the previous marriage of one or both parents. |
| the household life cycle | is the classification of a household into stages over time based on adult age, marital status, and the presence and age of children. |
| Single Parent I | single parents (under 35) living with one or more young children |
| Empty Nest I | middle aged (35 64) couples with no children living at home. Most have dual careers with busy lifestyles, but have free time and the money to spend on expensive vacations, second homes, luxury care, and time saving services. |
| Delayed Full Nest I | middle aged couples (35-64) with young children living at home. This group has significantly more income than the younger new parents. |
| Empty Nest II | older couples over 64 without children living in their household. This group has ample time on their hands. |
| HLC/Occupational Category matrix | outlines the different stages of the household life cycle and different occupational categories |
| family decision making | Decision making about consumption that involves all or part of the household i.e., more than one household member |
| How does family decision making differ from most organizational decision making | Organizations have relatively objective criteria such as profit maximization which guide purchases |
| family purchases | are inherently emotional and affect the relationships between the family members |
| six basic approaches that individuals use to resolve purchase conflicts | Bargaining: Impression management;Use of authority; Reasoning: Playing on emotion:Additional information |
| consumer socialization | is the process by which young people acquire skills, knowledge, and attitudes relevant to their functioning as consumers in the marketplace |
| Consumer skills | are those capabilities necessary for purchases to occur such as understanding money, budgeting, product evaluation |
| Consumption-related preferences | are the knowledge, attitudes, and values that cause people to attach differential evaluations to products, brands, and retail outlets. |
