Income and Social Class
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Transcript of Income and Social Class
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INCOME AND SOCIAL CLASS
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SOCIAL CLASS
As a division of a members of a society into
hierarchy of distinct status classes , so that
members of each class have relatives , the
same status and member of all other classes
have either more or less status
A range of social position on which each member of
society can be placed
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Social classes in india are generally categories
under five heads
upper class
Higher middle class
Middle - middle classLower middle class
Lower class
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Influence of social class in purchase
decisions
social class is often measured in terms of
social status
Status is frequently thought of as the relative
ranking of members of each social class in
terms specific status factors.
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Specific status factors would be
Relative wealth ( amount of economic assets)
Power ( influence over others )
Prestige ( the degree of recognition of
receives from others )
These are the three status
factors frequently used when estimating social
class
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How social class affects purchase decision can
be understood through two type of
consumption .
a. status consumption the process through
which consumers Endeavour to increase their
social standings through conspicuousconsumption and possession.
people generally purchase goods just
because it has status .
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EXPENSIVE CARS BEING PURCHASE JUST BECOUES IT HASSOME STATUS
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Conspicuous consumption measures the
extent to which a consumer is to consume
conspicuously .
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Brands which reflects status
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Culture & Sub-culture
Objective is to understand the influence of
culture on consumer behavior .
Culture is a societys personality.culture can be defined as as the some total
of learned beliefs , values and customs that
serve to direct the consumer behavior of
members of a particular society
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Sub culture
A distinct cultural group that exists as an
identifiable segment within a larger ,more
complex society
Members of a specific sub-culture possess belief
values and custom that set them apart from
other members of the same society
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Categories Examples
ReligionHindu , Muslims , Sikhs ,
Christians
Geographic- region Northeast , Southern , Western,
Eastern
Age Teenager , youth , elderly
Gender Male , female
Occupation Doctors , pilot
Social class Lower , middle , upper
Examples of major sub cultural categories
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Hispanic sub-culture
A Hispanic person is a citizen of USA who
originally came from Latin America or whoes
family came from Latin America .
Hispanic form almost 14% of USAS total
population
Hispanic are the largest minority group in the
US
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Hispanic sub-culture group consist of :-
Mexican American
Puerto Ricans
cubins
Large marketers have been targeting the Hispanic
market as a single market for instance the no. of
spanish language stations is growing , discovery
communication launch two new networks
discovery kids es espanol
discovery viajar y vivir ( travel and living )
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Racial sub-culture
Major racial sub-culture in US are
A. African American
B. Asian AmericanC. American indian
D. caucasian
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