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MKTG216 - Consumer Demographics Essay Example

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MKTG216 - Consumer Demographics

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Different from each perspective where income is defined as the total availability of monetary funds in the present situation whereas wealth refers to savings or other capital assets collected with the aim of future expenditure. Therefore, in a particular time period, the inequality in income would not affect the wealth distribution spontaneously within a demographic area. On the other hand, it is likely that a country with equal allocation of income has immeasurable inequality of wealth distribution. Contextually, Gini coefficient is important for the country, as it helps to determine the impact of welfare as well as expenditure distribution on consumers (Bosch & et.The above chart indicates that income per head of Fairfield and Leichhardt increased in 2006 and growth was observed in the economic development of the concerned place. From the chart it can be analyzed that in 2006, Fairfield had a Gini coefficient of 31.87 but in 2011 it decreased to 28.48 (Chart 1 & 3 Appendix). This signifies the fact that in 2011, inequality in the distribution of household mortgage expenditure was more as compared to 2006 in Fairfield. On the other hand, in can be observed from the above data that Gini coefficient was 29.66 in Leichhardt in the same year. However, Gini coefficient has reduced to 27.54 in 2011that in turn affects income distribution of Leichhardt (Chart 2 & 4 Appendix). The Gini coefficient data of the two cities thus indicates existence of inequality in income distribution therein. Moreover, it can also be examined for the chart that the inequality with respect to income distribution is likely to increase the chances of economic gap in Fairfield as well as in Leichhardt. The Gini coefficient chart of 2011 indicates that though individual income was high with respect to the two places, inequality in income distribution is also high, which is likely to affect economic growth.The ownership of unequal income distribution was high that resulted in economic gap within the cities. The income and expenditure distribution are the two essential factors those affect the growth of the economy substantially. Additionally, income distribution defines the purchasing power of an individual that in turn is likely to influence their purchase behavior. The higher rate of income inequality and distribution thus results in inequality in labor market that in turn is likely to affect the condition of household and socio economic growth of the cities. The inequality of

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References

Afzal, N. & Pakistan, S., 2013. Impact of Customer Satisfaction and Demographic Factors on Customer’s Loyalty in Banking Sector of Pakistan. Middle-East Journal of Scientific Research, Vol. 18, No. 5, pp. 721-727.

Bosch, A. & et. al., 2010. A Second Look at Measuring Inequality In South Africa: A Modified Gini Coefficient. School of Development Studies [Online] Available at: http://www.sds.ukzn.ac.za/files/WP%2058%20web.pdf [Accessed May 16, 2015].

Chotikapanich, D., 2008. Modeling Income Distributions and Lorenz Curves. Springer Science & Business Media.

Haughton, J. H. & Khandker, S. R., 2009. Handbook on Poverty and Inequality. World Bank Publications.

Martins, J. M. & et. al., 2011. Consumer Demographics and Behaviour. Springer Science & Business Media.

Appendix

Chart 1 Gini coefficient of Fairfield (2011)

Chart 2 Gini Coefficient of Leichhardt (2011)

Chart 3 Gini coefficient of Fairfield (2006)

Chart 4 Gini coefficient of Leichhardt (2006)

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preview essay on MKTG216 - Consumer Demographics
  • Pages: 4 (1000 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Masters
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