Discuss the Concept of Social Class, and Name the Six

question 189

Essay

Discuss the concept of social class, and name the six levels of class ranking. What variables are used to determine social class?

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Definitions:

Small Segments

Divisions within a market that target a specific demographic or niche audience.

Peter Drucker

A highly influential management consultant, educator, and author, known as the father of modern management for his extensive works and principles on business management.

Customer Needs

The explicit and implicit factors that a customer seeks to fulfil when buying a product or a service.

Marketing Strategy

A business's overall game plan for reaching prospective consumers and turning them into customers of their products or services.