ADV 319 Study Guide - Midterm Guide: Disposable And Discretionary Income, Social Class, Parvenu
Document Summary
Discretionary income: money available after we pay all our bills. Age group spending the most money in the marketplace = 30-55. 75,000 = magic income in terms of being comfortable. How we spend varies, based in part on our attitudes towards money. Tightwads (painful to spend) vs. frugality (prefer to save) Plutonomy: country where a small percentage of people make up the rich. Horizontal (ex: go from nurse to teacher, server to bartender) Influencers of mobility: education, appearance, economic climate, race + gender, age. United states: harder to move up, midwest/southeast = more difficult, west and east coast are easier. Two factors contribute to an (overall) upward income trajectory. College wage premium: gap between people getting a graduate education and people who don"t. Awareness: advertising in places which the target audience sees. Ex: bus stations, non profits, and government orgs. Availability: shortening the route from production to distribution and stocking stores where consumers will shop.
