salim

Kindly discuss the relevance of the “hierarchical structure” in social class for a marketer?

Hi Everyone! I wouldn't be bothering but this seems far above my caliber.
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electraxx
"The hierarchical structure holds relevance for a marketer in the following ways. - First, marketers can use this as a basis to segment the market; the various strata provide a basis for market segmentation. - Two, when people are “other-directed” or susceptible to social influence, they would buy such products and services and/or brands that people from their respective social classes purchase. This is because they look for social approval. So they would purchase certain products and service offerings and/or brands because they are used and favored by members of their own class. - Third, people are class conscious and relate brands to their social class; thus, they would buy brands which they feel relate to their “class”, and would avoid brands that they relate to “lower-class"" products. There are social-class influences on the actual consumption of products. -Fourth, the higher social class or the upper social class also acts as reference groups, for people in the lower class. The latter aspire to emulate the former and desire buying products and brands which the former buy. Source: http://in.docsity.com/en-docs/Life_Style_Analysis_-_Consumer_Behavior_-_Solved_Quiz_"
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