Consumer Socialization

1
Consumer Socialization
Acquiring the skills, attitudes, and
behaviors that allow us to function in the
consumer marketplace
2
Agents of Socialization

• Other People
• Parents, Friends, and Teachers
• Media
• Movies, TV Programs, and Advertising
• Institutions
• School, Church, and Government

3
Consumer Socialization

• Observation
• Verbal Interaction
• Personal Experience

4
Income and Social Class

• The future

5
Income Family 1998 WSJ 3/00
6
So, I am in the real world

• Wall Street Journal (adjusted from 10/99
  2annual)
• Median Salaries
• Petroleum Engineer (10 yrs experience) 61,000
• Senior Accountant (public) 55,000
• Senior Network Analyst 58,000
• District Sales Manager (Manufacturing) 81,000
• Brand Manager 83,100

7
Income (family of four)

• Poverty 20,000 (9,800 for an individual)
• 12 of Oregonians
• 20 of all children under six
• U.S. Median Income 47,012
• Oregon family of four (census 2004) 59,202
• Oregon Family 51,800
• Oregon Dual Income 64,780

8
Live like youre young and poor USA Today

• Feed a family of four for 500/month
• Eat at home
• Clip coupons
• Ride a bike
• Bargain basement clothes
• No to credit cards

9
How the average family lives (Fortune 1991)

• Boxseins
• Wife buys dresses at Goodwill
• Bakes her own dog biscuits to save money
• Son joins army to pay for college
• Eat out once a month at most
• Drives 14 year old station wagon

10
Another Important Issue

• 2000 Census 40 of the US population does not
  reflect the white, heterosexual consumer that
  historically has defined the marketing
  mainstream Marketing News 5/01
• Foreign-born residents make up 40 of NYC
  population

11
Social Class

• Hierarchical
• Based on Economics, Power, and Social Interaction

12
Social Class Topics

• Status Symbols
• What makes something a status symbol
• Role of Status symbols
• Greshams Law Bad drives out the good
• Ratchet Effect
• Over-privileged