Mar-3503 Lecture Notes - Lecture 11: Conspicuous Consumption, Blue-Collar Worker, Social Class
Document Summary
What are the motivations and shopping behaviors for: Not wealthy and high need for status. Grouping members of society from high to low class. Different economic substrata can coexist w/in a social class according to average income. Over-privileged - 20 - 20% above the media. Under-privileged - below the median; dif cult to meet class expectations. Trends moving from upper to lower class. Income not strongly related to social class. Income overlaps across classes (blue collar at gm vs. history professor) Income increases with age but doesn"t necessarily shift social status. Increases in dual income households increases income. Social class can explain how income is used. Occupations that require higher levels of education, skill, or training = higher in status. Individuals w same occupation tend to share similar income, lifestyles, knowledge, and values. Education = key determinant of occupation and, therefore, social class. Status acquired later in life through your own achievements.
