Are class diffrences are clearly defined in america, if Yes does this have an impact on...

Are class diffrences are clearly defined in america, if Yes does this have an impact on consumer behave and how does aspirational consumer spending affcet our overall economy?

Expert Solution

Yes, class difference are clearly defined in America. Buying Behaviour is the decesion processes and acts of people involved in buying and using products. Consumer buying behaviour refers to buying behaviour of the ultimate consumer. A firm needs to analyze buying behaviour for:

Buyers reactions to a firm marketing strategy has a great impact on the firm success.
The marketing concept stresses that a firm should create a Marketing Mix that satisfies customer.
Marketers can better predict how consumers will respond to marketing strategies.

Consumer Behaviour is a vital determinant of your business success. when the economy is performing well, consumer sentiment is strong and people spend money. But when the economy flaters confidence falls and people cut back on their spending evenif they are not directly threatened.

National economy imoacts on consumer spending accounts for 70% of the GDP, which is the value of everything produced in the U.S in a year. Consumer spending is broken down into durables , nondurables and services. The factors that affect the demand are based partly on the price of substitute and complementary products.

Rahul Sunny answered 2 years ago

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