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Consumer Behavior Ch.12 Key Words
key words and descriptions
28
Marketing
Undergraduate 3
03/18/2011

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Term
Affluenza
Definition
well-off consumers who are stressed or unhappy despite of or even because of their wealth
Term
Behavioral Economics
Definition
the study of the behavioral determinants of economic decisions
Term
BRIC
Definition
the bloc of nations with very rapid economic development: Brazil, Russia, India, and China
Term
Chavs
Definition
British term that refers to young, lower-class men and women who mix flashy brands and accessories from big names such as Burberry with track suits
Term
Conspicuous Consumption
Definition
the purchase and prominent display of luxury goods to provide evidence of a consumer's ability to afford them
Term
Consumer Confidence
Definition
the state of mind of consumers relative to their optimism or pessimism about economic conditions; people tend to make more discretionary purchases when their confidence in the economy is high
Term
Cougars
Definition
older women who date younger men
Term
Cultural Capital
Definition
a set of distinctive and socially rare tastes and practices that admits a person into the realm of the upper class
Term
Discretionary Income
Definition
the money available to a household over and above that required for necessities
Term
Elaborated Codes
Definition
the ways of expressing and interpreting meanings that are more complex and depend on a more sophisticated worldview, which tend to be used by the middle and upper class
Term
Food Poverty
Definition
the inability of consumers to obtain healthy an affordable food due to limited accessibility to stores, the availability of healthy choices, the affordability of healthy options, and general nutritional awareness
Term
Frugalistas
Definition
fashion-conscious consumers who pride themselves on achieving style on a limited budget
Term
Habitus
Definition
ways in which we classify experiences as a result of our socialization processes
Term
Homogamy
Definition
the tendency for individuals to marry others similar to themselves
Term
Invidious Distinction
Definition
the use of status symbols to inspire envy in others through display of wealth or power
Term
Mass Class
Definition
a term analysts use to describe the millions of global consumers who now enjoy a level of purchasing power that's sufficient to let them afford many high-quality products
Term
Microloans
Definition
small sums - typically less than $100 - banks lend to entrepreneurs in developing countries
Term
Parody Display
Definition
deliberately avoiding status symbols; to seek status by mocking it
Term
Plutonomy
Definition
an economy that a small number of rich people control
Term
Restricted Codes
Definition
the ways of expressing and interpreting meaning that focus on the content of objects, which tend to be used by the working class
Term
Social Class
Definition
the overall rank of people in a society; people who are grouped within the same social class are approximately equal in terms of their income, occupations, and lifestyles
Term
Social Mobility
Definition
the movement of individuals from one social class to another
Term
Social Stratification
Definition
the process in a social system scarce and valuable resources are distributed unequally to status positions that become more or less permanently ranked in terms of the share of valuable resources each receives
Term
Spendthrifts
Definition
consumers who derive pleasure from large-scale purchasing
Term
Status Crystallization
Definition
the extent to which different indicators of a person's status are consistent with one another
Term
Status Hierarchy
Definition
a ranking of social desirability in terms of consumers' access to resources such as money, education, and luxury goods
Term
Taste Culture
Definition
a group of consumers who share aesthetic and intellectual preferences
Term
Tightwads
Definition
consumers who experience emotional pain when they make purchases
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