Which of the Following Best Explains Why Marketers Do Not

question 10

Multiple Choice

Which of the following best explains why marketers do not consider social class segments as strictly as they once did?

• A) Many consumers buy according to the social class image they wish to portray rather than according to where they actually fall in the social class framework.
• B) Due to the Great Recession, members of the upper class have become members of the middle class, and members of the middle class have become members of the lower class.
• C) Data related to social class are more complicated and difficult to obtain and analyze than they once were.
• D) Social class in the United States is more related to education and family history than to wealth.
• E) Members of the upper and middle classes are unlikely to be attracted to any products marketed toward members of the lower classes.

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Definitions:

Market For Soda

The commercial space in which various types and brands of soda (sugary, carbonated beverages) are bought, sold, and competed over.

Surplus

The situation in which the quantity supplied of a product exceeds the quantity demanded at the existing price.

Binding Rent-Control

A type of rent regulation where the set price ceilings are below the market equilibrium rent, leading to shortages and reduced quality of rental housing.

Transaction Costs

Expenses incurred in the process of making an economic exchange, including search, information, bargaining, decision, policing, and enforcement costs.