Economics, Marketing and Low Income Individuals: interest after a history of indifference

Abstract

During the early years of marketing, researchers used theories and concepts from economics as base for the development of their own theories and concepts. This similarity can be seen in the way marketing viewed the low income individual and his relationship with consumption, in the first studies of the subject. Like the economists, researchers in marketing described these individuals as dependents of society and governments to better their lives. This view changes when Prahalad defends a new perspective, through which individuals in this context are seen as consumers, with desires to consume products of diverse nature. The objective of this article, therefore, is to analyze the paths trailed by economics and two moments in marketing about the low income individual. Initially, the view economics has on low income individuals is discussed, so that, afterwards, two perspectives of marketing about this segment can be presented.