How useful is social class Essay

How usable is loving material body as a variable for segmenting consumer markets? Explore.In the early on days of segmentation, according to Schiffman, it was not unusual to nurse only iodin segmentation criterion, e.g. demographic segmentation. Today marketers defend realized that it is to simplified to apply only one criterion for segmenting complex markets. Therefore, it is common to combine round(prenominal) criteria to create rich and comprehensive segmentation profiles in order to begin the most beneficial address markets for ones result. Shortly, it support be argued that geographic and demographic variables help to locate a certain target market, whereas psycho-graphic and socio-cultural variables help describe who its members ar, how they think and how they feel.Demographic is segmenting customers based on age, income, gender, etcetera Geographic is based on the region or country they live(a) in. psycho-graphic is based on their personality and socio-cultural segmentation is segmenting the market based on their subculture, religion, social mannequin, family lifestyle/life-cycle (single, married etc). Currently, we bequeath focus on the immensity of segmenting the consumer markets based on their social class.Almost every society has some form of a social class structure. According to Kotler, Social classes ar societys relatively permanent and ordered divisions whose members share kindred values, interest, and behaviors.Society is mainly divided into three major classes, Upper, nitty-gritty and Lower. precisely social scientists have identified that society can be classified ad into seven social classes. They are the Upper Uppers, Lower Uppers, Upper Middles, Middle Class, Working Class, Upper Lower, and Lower Lowers (See Appendix I).Companies need to consider social class as a variable for segmenting the consumer markets beca hold it is social occasionful for them in ascertain their target market. It helps them in setting the s everal(predicate) marketing mix for different target market based on their social class. For example, a motorcar company equal Toyota produces many different types of car with different brands prices and which are targeted to different hoi polloi. The expensive cars like Land Cruiser and Celica is targeted to the upper class. mend their other brands like Soluna and Toyota Kijang is mainly focused on the middle and working class.Marketers are also interested in social class because people within a given social class tend to ground similar buying behavior. It helps the marketers in setting the price and the quality to use for their product. For instance the Upper Uppers way of decision-making of purchasing a product and the product they purchase would be different from those of the Upper Lower.They would prefer to purchase a more expensive product with good quality. They would not go for seamy products thinking that because if it is inexpensive, it is sure an inferior produ ct. For example, in choosing a car. The upper class would prefer to buy something more elite and soap like Mercedes and Lexus since it has a class, and is more of a good quality product. They would not go for something like Timor. Therefore, it is vital that marketers consider the social class when segmenting consumers because it influences on consumer purchasing decision-making. Here, marketers bed that their upper class consumers see the quality comparing to price. So they have to develop a product with merit features, since the society is affordable to brook for the product.Besides aiming on target market and setting the price, it also helps the marketers in deciding their advertising activities. The way a company advertises for an expensive and exclusive products will be different from the way they advertise a busted quality product. Im sure a marketer would not waste a lot of money in their advertising candidacy for an inferior product that is targeted to the middle and lo wer class. Example, for soap products like lx and Giv. Lux Company focuses on middle to upper class as their target market. To make it look like a pricier product, they use noted actresses as their model. At times, the model in the advertising do rear on the consumer decision-making. While Giv Company focuses more on lower class consumers. They are less bother to hire expensive models for their advertising. They would go for a more simple advertising campaign.Overall, I would like to state that if marketers use social classes in targeting their consumer markets, they will be able to easily hear their target, understand their consumer behavior, minimize risk for new products and services and accordingly can organize successful marketing strategies in which they can sell their products in a better way and can gain more profit. They will also be able to know about the needs of their customers and hence can serve them better in the future.