Members of each class share similar values and social status and also tend to have shared patterns of consumer behavior are called __________.

______ is the process of progressing up or down the social class ladder.

The more educated a person is the more likely they are to be employed in a profession that generates a lot of income and therefore to be of a higher status in society

Some occupations are afforded greater status than others simply because of the level of skill, training, or education required to enter those particular professions.

__________ is the act of buying expensive goods and then using them in a way that makes one's social status abundantly obvious.

Consumers’ needs and interests often change as they age. Older consumers desire more active leisure activities than younger consumers.

Marketers aren't concerned with how income is distributed since this can enable them to target specific groups that can afford their products or services.

Young consumers tend to be more brand-loyal and can be more cautious when making purchases.

Compared to older teens, this group is considerably less brand loyal and more impulsive. Although highly sharp, their sense of style is ever-changing. This makes this group challenging to reach, despite being lucrative.

This people were viewed as confident users of modern technology and were born between the middle of the 1990s and the middle of the 2010s.

Members of this generation are also known as iGen, Digital Natives, and Echo Boomers, who were born between 1981 and 1996 and are the offspring of Baby Boomers, who were born between 1946 and 1964.

There are several factors that can be used to determine an individual’s social class, including area of residence, possessions, family background, social interactions, inherited status and earned status. However, the three biggest indicators are education, occupation and income.