BY: ANSHUL GUPTA KANWAR SINGH MANSI GUPTA PRERITA SHARMA ROHIT JAITLY SACHIN GOYAL

The division of members of a society into a hierarchy of distinct status classes, so that members of each class have either higher or lower status than members of other classes.

 Is

hierarchical Is a natural form of segmentation Provides a frame of reference for consumer behaviour Reflects a persons relative social status

 Status

is frequently thought of as the relative rankings of members of each social class wealth power prestige

 Subjective

Measures: individuals are asked to estimate their own social-class positions Reputational Measures: informants make judgments concerning the socialclass membership of others within the community Objective Measures: individuals answer specific socioeconomic questions and then are categorized according to answers

 Single-variable

indexes

Occupation Education Income Other Variables

Composite-variable

indexes

Index of Status Characteristics Socioeconomic Status Score

 UPPER-UPPER

CLASS LOWER-UPPER CLASS UPPER-MIDDLE CLASS LOWER-MIDDLE CLASS UPPER-LOWER CLASS LOWER-LOWER CLASS

THE UPPER-UPPER CLASSCOUNTRY CLUB Small number of well-established families Belong to best country clubs and sponsor major charity events. Serve as trustees for local colleges and hospitals Prominent physicians and lawyers May be heads of major financial institutions, owners of major long-established firms Accustomed to wealth, so do not spend money conspicuosuly

THE LOWER-UPPER CLASSNEW WEALTH

Not

quite acceptable by the upper crust of society Represent new money Successful business executive Conspicuous users of their new wealth

THE UPPER-MIDDLE CLASSACHIEVING PROFESSIONALS

Have

neither family status nor unusual wealth Career oriented Young, successful professionals, corporate managers, and business owners Most are college graduates, many with advanced degrees. Active in professional, community , and social activities Consumption is often conspicuous Very child oriented

THE LOWER-MIDDLE CLASS FAITHFUL FOLLOWERS Primary non-managerial white-collar workers and highly paid blue-collar workers Want to achieve respectability and be accepted as good citizens Want their children to be well behaved Prefer neat and clean appearance Constitute a major market do-it yourself products

THE LOWER-LOWER CLASSROCK BOTTOM Poorly educated, unskilled laborers Often out of work Children are often poorly treated Tend to live a day-to-day existence

 Social

class can have a profound effect on consumer spending habits.

the most obvious effect is the level of disposable income of each social class. Generally, the rich have the ability to purchase more consumer goods than those with less income, and those goods are of higher quality.

Perhaps

 There

is also a distinction in the type of goods purchased. For example, the upper class tend to be the primary buyers of fine jewelry and often shop at exclusive retailers. The lower class, in contrast, are much more concerned with simply getting by; they focus more on necessities.

 Conspicuous

Consumption-acquisition and display of goods to show off ones status

Waste-Visibly buying products that one never uses Consumption-Buying products to offset frustrations or difficulties in life

Conspicuous

Compensatory

 Clothing, Fashion, and Shopping Where one shops External point of identification
The Pursuit of Leisure Type of leisure activities differ Saving, Spending, and Credit Level of immediate gratification sought varies

 Responses

to marketing communication

Upper classes have a broader and more general view of the world Regional variations in language rise as we move down the social ladder Exposure to media varies by social class

Social class is more difficult to measure than income Many purchase behaviours are related more to income than social class Consumers often use expected social class for their consumption patterns Dual incomes have changed consumption patterns Individual dimensions of social class are sometimes better predictors of consumer behaviour