Preliminary communication
BUYING BEHAVIOR AND CONSUMPTION: SOCIAL CLASS VERSUS INCOME
Mirela Mihić
Gordana Čulina
Abstract
The theoretical part of the paper examines the significance of social class and income in understanding consumption and purchasing behavior based on the previous research results. The empirical part displays research methodology and results. The aim is to determine which of the two analyzed concepts - social class or income - has more influence over the buying behavior, i.e. consumption of certain products/services. The research was conducted on a sample of 270 respondents. Keeping in mind the research goals, three hypotheses were set. The results confirmed two of them entirely and one partly, showing that both social class and income significantly influence buying behavior. Among 19 analyzed cases, social class proved to be more significant in eight of them and income in four. The research showed that income better explains purchasing habits and behavior with less visible products associated with significant expenditures, while social class matters more with products reflecting life-style values, i.e. more visible and expensive products associated with class symbols. Since members of different social classes and income categories differ significantly in buying preferences with all analyzed products/services, it can be concluded that both variables, depending on specific situations and types of products/services, constitute important market segmentation criteria.
Keywords
Hrčak ID:
19148
URI
Publication date:
20.12.2006.
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