Management and Organizational Studies 3321F/G Chapter Notes - Chapter 12: Disposable And Discretionary Income, Ascribed Status, Consumer Confidence

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 3321F/G
• Professor: Tara Lee

Document Summary

Chapter 12 income, social class and family structure. A wide gulf exists between those who have it and those who do not. An equally wide gulf exists between those who have had money for a long time and those who made it the hard way by earning it. A person"s social class has a profound impact on what he or she does with money and on how consumption choices reflect the persons place in society. The specific products and services we buy are often intended to make sure other people know what our social standing is or what we would like it to be. Products are frequently brought and displayed as markers of social class they a \re valued as status symbols. This is especially true in large, modern societies where behaviour and reputation can no longer be counted on to conveys one"s position in a community.