COMMERCE 3MB3 Lecture Notes - Lecture 4: Dishwashing Liquid, Conspicuous Consumption, Nouveau Riche
31 Jan 2017
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Income, social class, and family structure chapter 12 (l4) Based on average gdp per capita, canada is a rich country. Based in imf estimates for 2016 canada ranks 24th worlds wide with a gdp/capita of ,240. Compared to other countries, it doesn"t rank high on income inequality. But still there is some degree of inequality! May be caused by political issues (e. g. communism) Every country has an history and political times could be changing and how corrupt it is. Marketers care because then you"ll know what items they would be responsive to. Discretionary income is the disposable income minus all payments necessary to maintain a standard of living (bills, mortgage, transport, insurance, groceries, daycare, etc. ) It is a more subjective measure: discretionary is more subjectively measured from person to person (everybody has different wants and needs, pay for your necessities first. Consumer demand = willingness + ability to buy: whether they want to buy and whether they can afford it.
