SOCIAL CLASS AND CONSUMER BEHAVIOR

Status Factors Wealth Power Prestige Economic Assets Influence Recognition Social Class .

Upward comparison: To plot a idealize image Downward comparison: To encourage self esteem .Social Comparison Theory: According to this theory: Status is associated with consumers purchasing power.

Social Class category: Two category social class Three category social class Four Category social class Five Category social class Six category social class Seven category social class Nine category social class .

Measurement of Social Class: 1.Subjective measures Participant¶s self perceptions or self images Personal phenomenon Individual¶s sense of belongingness or identification .

Reputational Measures: Community information Done by trained researchers Used mostly by sociologists 3. Objective Measures: Single variable indexes Composite variable indexes .2.

Occupation: Money consideration Vacation consideration Professional work or training .Single Variable indexes: 1.

Education: More education more paid primary need varies Secondary need varies in multiple ways 3.2. Income: .

Other variables: Neighborhood Home decoration School college choosing fact .

Social Class Mobility: 1.Upward Mobility Self development and self advancement people Ambitious men and women New management trainee Middle Manager New Graduate .

2. more savings) . own home. Have more disposable income. Downward Mobility: Generation liveliness variation Lack of energy (Better jobs.

Geodemographic Clustering: µBirds of a feather flock together¶ Similar (Geographic+ Socioeconomic)= Geodemographic Attitude Component: Education. ethnicity Housing. Occupation. Urbanization. Family life cycle. . Income.