MKTG 305 1st Edition Lecture 25 Outline of Last Lecture I. Social MobilityII. Components of Social ClassOutline of Current Lecture I. Taste CulturesII. Targeting the Poor/RichIII. Status symbolsIV. Conspicuous ConsumptionV. Parody DisplayVI. Ethnic and Racial SubculturesVII. New Ethnic GroupsVIII. Consumer AcculturationIX. Big 3 American subculturesTaste culture:It differentiates people in terms of their aesthetic and intellectual preferencesDistinguishes consumption choices among social classese.g., Upper- and upper-middle-class consumers are more likely to visit museums and attend live theater, whereas middle-class consumers are more likely to go camping and fishingTargeting the Poor:Poor people have the same basic needs as othersStaples/food, health care, rentResidents of poor neighborhoods tend to travel more to have same access to supermarkets, banks, etc.e.g., Nestle Brazil shrank the package size of its cookies and dropped the price. Sales jumped 40%Targeting the Rich:Old Money- These types of families live on inherited fundsFamily history of public service and philanthropy(e.g., Rockefeller foundation)Nouveau Riches- newcomers to the world of wealthStatus anxiety leading to symbolic self-completionStatus Symbols:These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.Status-seeking: motivation to obtain products that will let others know that you have “made it”What matters is having more wealth/fame than othersConspicuous Consumption:We buy things to inspire envy in others through our display of wealth or powerConspicuous consumption: people’s desire to provide prominent visible evidence of their ability to afford luxury goodsParody Display:Some consumers deliberately avoid status symbolsIt is referred to as parody displayExamples:Ripped jeansSports utility vehiclesRed Wing bootsEthnic and Racial Subcultures:Why is it important for marketers?Subcultural differenceHigh-context culture: infer meanings that go beyond the spoken word. Sensitive to nuances in adsLow-context culture: more literal, straightforwardNew Ethnic Groups:The dominant American culture exerts pressure on immigrants to become absorbed in mainstream societyNew immigrants are much more likely to be Asian or HispanicTend to cluster together geographicallyWord-of-mouth is especially importantA Model of Consumer Acculturation:Individual differences affect how rocky adjustment will be.Acculturation agents include culture of origin and culture of immigrationAssimilation, maintenance, resistance, and segregationAssimilation: adopt products, habits, values they identify with the mainstream cultureMaintenance: stay in touch with their own country, read their newspapers, eat their foods.Resistance: resent the pressure to submerge their identities.Segregation: live and shop in places separated from mainstreamThe “Big Three” American Subcultures:- African Americans, Hispanic Americans, and Asian Americans- Hispanic population is now the largest ethnic subculture- Asian Americans are the fastest-growing racial group (due to
View Full Document
Unlocking...