Download Marketing to Diverse Segments: Exam Review for Chapters 13-17 - Prof. Jeri Beggs and more Exams Consumer Behaviour in PDF only on Docsity! Review for Exam #3 (Chapters 13-17) 8th edition Chapter 13 Problems with social class segmentation (495-498) o They ignore status inconsistency o They ignore intergenerational mobility o They ignore subjective social class ( the class a consumer identifies w. not one they belong in) o They ignore consumers’ aspirations to change their class standing o They ignore the social status of working wives Targeting the Poor o 14% Americans live below the poverty line mkters ignore this segment o Microloans: small sums (less than $100) given to entrepreneurs in developing countries. o Have same basic needs as everyone else o On ave. residents of poor neighborhoods have to travel more to access same supermarkets, banks, etc. Targeting the Rich (502-506) o Many mkters try to target affluent, upscale mkts o Affluent consumers’ interests / spending priorities are affected by where they got their $$, how they got it, and how long they’ve had it. o Luxury groups: Luxury is Functional: use $ to buy things that last make logical decisions Do extensive research Luxury is a Reward: Tend to be younger then functional group Older then Third group Desire to demonstrate success to others by buying conspicuous luxury items ( fancy cars ) Luxury is Indulgence: Smallest of the 3 groups Younger consumers and more Males Purpose of luxury is to be Lavish and Self- Indulgent More Emotional Approach to spending Terms to know o Conspicuous Consumption: The purchase and prominent display of luxury goods to provide evidence of a consumer’s ability to afford them o Parody Display: Deliberately avoiding status symbols , to seek status by mocking it. Chapter 14 The “Big Three” American Subcultures: o African Americans Mkt not homogeneous Spending patterns similar to whites Household Income and Ed. Levels rising Differences in consumption behaviors subtle but IMPORTANT o Hispanic Americans (13%) Largest group Many different backgrounds Hispanic population considered major mkt Brand loyal Concentrated geographically (easy to reach) Some ads don’t work well among Hispanics, while Anglos don’t understand some products popular among Hispanics. Characteristics Young Bicultural: Latino youth changing mainstream culture and growing rapidly Looking for Spirituality, Stronger Families, More Color Large family size o Spend more o Shopping is family affair o Regard clothing kinds as matter of pride o Convenience / Saving not important o Asian Americans (12%) Fastest growing Most Affluent Best Educated Most likely to hold technology jobs and buy high – tech gadgets Most frequent shoppers and most Brand Conscious LEAST BRAND LOYAL Most concerned w. Keeping up Appearance Speak many different languages/ Dialects Catholic vs. Protestant o Megachurches: Very large churches serving btwn 2,000 and 20,000 congregants o Cult Products: Items that command fierce consumer loyalty and devotion (Twilight, Star Trek) o Catholic (25%)
