SOCIAL CLASS

In the modern world in which we are living today involves many types of differences in terms of the peoples habits, style attitude, class of living and many more. all these aspects lead to one major difference in each ad every community which is called as a social class. people everywhere in the world are divided in the different type of classes whether its middle class or lower class or higher class. these classes then distinguishes many thing like how they behave their

capabilities to understand things literacy level and many more.

in other words social class can also be defined as the difference between powerful and the powerless. he word ELITE is being used fo the people who posses as being powerful and have a high level of thinking and living.

Broadly the classes are divided as follow:

Upper Class – Elite

Represent institutional leadership, heads of multinational corporations, foundations, universities

Capitalist elite – owners of lands, stocks and bonds and other assets – wealth derived from what they own

Forbes magazine publishes a list of the 400 wealthiest families in America. In 1997, net worth had to be at least $475 million.Bill Gates, in that year, had net worth pf 39.8 billion. Of all the wealth represented on the Forbes list, more than half is inherited. Newly acquired wealth, nouveau riche, have vast amounts of money but not often accepted into “old money” circles.

Upper Middle Class

Represent scientific and technical knowledge – engineers, accountants, lawyers, architects, university faculty, managers and directors of public and private organizations. Have both high incomes and high social prestige. Well-educated. Difficult to define a “middle class” (i.e. upper middle, middle middle and lower middle) probably the largest class group in the United States – because being middle class is more that just income, about lifestyles and resources, etc.

Lower Middle Class

Clerical-administrative

Provide support for professionals

Engage in data collection., record-keeping

Paralegals.\, bank tellers, sales

Blue-collar workers in skilled trades

Working Class

Craft workers

Laborers in factories

Restaurant workers

Nursing home staff

Repair shops, garages

Delivery services

Poor

Working poor – work full-time at wages below poverty line

Social services

Underclass

Social class is one of the most important concepts that sociologists discuss and yet its definition is often illusive

The link below shows that how the people are categorised in different types of classes and how their way of living and style changes

http://www.youtube.com/watch?v=dHdmvw3wip0&feature=related

Syed Jafri

Business And Management Student

Bucks

VALUES


Values are considered as one of the most important aspect in a human beings life. Values can be used to define about the complete person in terms of how he/she behaves and how he/she interacts with the other indivituals.

OR

Values can be defined as a belief about some desirable end-state that transcends specific situations and guides selection of behaviour.thus values are general and different from attitude in that they do not apply to specific situations only.

A persons set of values plays a very important role in their consumption activities,since many products and services are purchsed because they help us to attain a value-related goal.

CORE VALUES

Every culture has a set of core value that it imparts to its members.for example people in one culture might feel that being a unique indivitual is preferable to subordinating one's identity to the group,while other group may emphasize the virtues of group membership.

VALUE SYSTEMS

Every culture is characterized by its members endorsement of a value system.these end-state may not be equally endorsed by everyone,and in some cases values may even seem to contradict one another

VALUES TO CONSUMER BEHAVIOUR

Values have not been as widely applied to direct examinations of consumr behaviour as might be expected.One reason is that broad based concept such as freedom,security are more likely to affect general purchases patterns rather than to differentiate between brands within a product category.For this some reserchers have found it convinient to make distinctions among broad based cultural values such as security or happiness; consumption specific values such as convinient shopping or prompt services and product-specific values such as ease of use or duribility,that effects the reletive importance people in different cultures place on posessions.

SHARED VALUES

Shared values can be defined as explicit or implicit fundamental beliefs, concepts, and principles that underlie the culture of an organization, and which guide decisions and behavior of its employees, management, and members.

OR

Shared values are what endangers trust and link an organisation together.Shared links are also the identity by which an organisation is known throughout its business areas.As Steve Jobs the co-founder of apple puts in that 'the only thing that works is management by values'

Below is the video which highlights that how schools play the most important role in educating people with the importance of values.



GENDER DIFFERENCES IN BUYERS BEHAVIOUR

 Gender has been used primarily to refer to the grammatical categories of "masculine," "feminine," and "neuter," but in recent years the word has become well established in its use to refer to sex-based categories, as in phrases such as gender gap and the politics of gender. This usage is supported by the practice of many anthropologists, who reserve sex for reference to biological categories, while using gender to refer to social or cultural categories. According to this rule, one would say The effectiveness of the medication appears to depend on the sex (not gender) of the patient, but In peasant societies, gender (not sex) roles are likely to be more clearly defined. This distinction is useful in principle, but it is by no means widely observed, and considerable variation in usage occurs at all levels.

OR

Gender is a set ofcharacteristics distinguishing between male and female, particularly in the cases of men and women. Depending on the context, the discriminating characteristics vary from sex to social role to gender identity. In 1955, sexologist John Money introduced the terminological distinction between biological sex and gender as a role.

Gender is now commonly used even to refer to the physiology of nonhuman animals, without any implication of social gender roles

Men are different from women. That would seem to be self-evident. They are different in aptitude, skill and behaviour, but then, so is every individual person. So why do we make such a fuss about it? It seems not unreasonable to suggest that the sexes are different because their brains are different, but then no two human brains are the same. It is suggested that our culture is in trouble because many women have been brought up to believe they should be as good as a man.

Why are girls more successful at school? Perhaps emphasis on communication in projects and exams submerges differences. Success at school nowadays depends on being able to writes essays and examination papers. If girls are better at verbal communication than boys, then they are likely to succeed. But, if there are more boys in remedial reading classes, does it not imply a serious defect in our educational system?

In general, men are taller and heavier than women. In sports, men tend to outperform women in strength and speed. Women seem to have greater endurance. In spite of many attempts, sports have never become completely unisex.

All males are different from females in terms of there buying product from themselves

Yet, for example, Ward and Whipp suggested that running speeds for male and female athletes have improved steadily through the twentieth century, but women have improved much more than men. Dyer found the same for athletics, swimming and cycling. Both predicted that sex differences might disappear by the middle of the next century. However Seiler and Sailer point out that, since the date of their studies, the rate of improvement has much reduced. They suggest a temporal correlation with the use of performance enhancing drugs, and their more recent proscription. These have a greater effect on women, than they do with men, since the latter are already well supplied with testosterone.

Men, it is said, are generally more aggressive, physically and verbally, and enjoy taking risks. They play fighting games and enjoy 'dares.' More men than women are convicted for crimes, especially crimes of violence.

A recent news story discussed the shopping habits of women, revealing that the recession hasn't changed them much. In addition surveys have found that women lie about what they purchase and how much they spend.A survey of 1500 British women done by a British women's magazine called Marie Claire found women are savvy in terms of lying to their partners about their spending habits. In fact what the magazine found was that women haven't changed the way they spend during the recession but tend to lie more about it. The magazine reports, "Forty per cent said they had bought clothes or beauty products which they had kept secret from their other halvls. And 80 per cent of the new clothes, shoes and handbags bought were kept secret."

So looking at this it can be understood easily that recession can hit everyone exept womens.

When it comes to technology, men shop and women buy. That is, men browse, looking for something cool even if they may not need anything at the moment. How many megapixels are digital cameras up to? How much does a high-end laptop computer cost? Familiarizing themselves with the answers to such questions lets men advise friends on purchases or quickly narrow down the options for a purchase of their own in the future. Men get these specs by reading written displays, either in-store or online. While women may discuss the cute skirt they just bought, men talk to friends about the cool features of their new videocamera or iPhone apps

Women are on a mission in high-tech stores, and they are looking for an item to meet their own immediate needs and those of their families. They care less about a computer's specs and more about what it can do for them. When selling to women, retailers would be wise to market high-tech products "like refrigerators instead of like scientific instruments." This is because women are generally less interested in what kind of wireless technology a digital camera uses; they care more about whether they can easily share photos with friends on facebook or not.

The video below explains more in detail of the basic differences between males and females

GROUP CONFORMITY,OPINION LEADERS & PEER PRESSURE

1.GROUP CONFORMITY

Conformity is the process by which an individual's attitudes, beliefs, and behaviors are influenced by what is conceived to be what other people might perceive. This influence occurs in both small groups and society as a whole, and it may be the result of subtle unconscious influences, or direct and overt social pressure Conformity also occurs by the "implied presence" of others, or when other people are not actually present. For example, people tend to follow the norms of society when eating or watching television, even when they are at home by themselves.

OR

According to Leon Mann,conformity means  ‘yielding to group pressures’.

Everyone is a member of one group or another and everyone expects members of
these groups to behave in certain ways. If you are a member of an identifiable
group you are expected to behave appropriately to it. If you don’t confirm and
behave appropriately you are likely to be rejected by the group. Likestereotypes, conforming and expecting others to conform maintains cognitivebalance. There are several kinds of conformity. Many studies of conformity tookplace in the 1950’s which led Kelman to distinguish between compliance, internalisation and identification. Compliance is the type of conformity where the subject goes along with the group view, but privately disagrees with it.Conformity within a group entails members changing their attitude and beliefs in order to match those of others within a group.Those that conform tend to be obedient and compliant.In order to conform ,the group members must attribute someone as having the legitimacy and creditibility to lead or influence the groups behaviour.Without this "leader",conformity towards the group's goals will be less prevalent.If a member of the group fails to conform to the groups needs then he/she would lose credibility with the rest of the group.

The video below tells that how actually a group conformity works

2.OPINION LEADERS

It is a concept that arises out of the theory of two-step flow of communication propounded by Paul Lazarsfeld and Elihu Katz. This theory is one of several models that try to explain the diffusion of innovations, ideas, or commercial products.The opinion leader is the agent who is an active media user and who interprets the meaning of media messages or content for lower-end media users. Typically the opinion leader is held in high esteem by those who accept his or her opinions. Opinion leadership tends to be subject specific, that is, a person that is an opinion leader in one field may be a follower in another field. An example of an opinion leader in the field of computer technology, might be a neighborhood computer service technician. The technician has access to far more information on this topic than the average consumer and has the requisite background to understand the information, though the same person might be a follower at another field (for example sports) and ask others for advice.

The 2 basic definations of Opinion Leaders can be as follows in terms of

1. General: Influential members of a community, group, or society to whom others turn for advice,   opinions,and views.

2. Marketing: Minority group (called early adopters) that passes information on new products (received from the media) to less adventuresome or not as well informed segments of the population. However, only products such as automobiles, books, and clothing are susceptible to such influencers whereas appliances, food, toiletries, etc. are not.

The video below highlights that how politics and media misrepresent the public which makes changes in their opinion.

3.PEER PRESSURE

It refers to the influence exerted by a peer group in encouraging a person to change his or her attitudes, values, or behavior in order to conform to group norms. Social groups affected include membership groups, when the individual is "formally" a member (for example, political party, trade union), or a social clique. A person affected by peer pressure may or may not want to belong to these groups.



Who Are Your Peers?

When you were a little kid, your parents used to chose your friends, and then they used to put you in playgroups with certain children that they knew. Now that you're older, you decide who your friends are and what groups you spend time with.You only at a certain level decide what you are doing and who are the people in and around you.

Friends — your peers — are people your age or close to it who have experiences and interests similar to yours. You and your friends make dozens of decisions every day, and you influence each other's choices and behaviors. This is often positive — it's human nature to listen to and learn from other people in your age group.

As you become more independent, your peers naturally play a greater role in your life. As school and other activities take you away from home, you may spend more time with peers than you do with your parents and siblings. You'll probably develop close friendships with some of your peers, and you may feel so connected to them that they are like an extended family.

Besides close friends, your peers include other kids you know who are the same age — like people in your grade, church, sports team, or community. These peers also influence you by the way they dress and act, things they're involved in, and the attitudes they show.
looking at the above example it can be seen that how people are having peers since their childhood

The video below that how people get under pressure by seeing some good thing and then try to do it in the same way

Syed Jafri

Business and marketing management student

BUCKS

PERSONALITY AND SELF-CONCEPT

PERSONALITY refers to the unique psychological characteristics that lead torelatively consistent and lasting responses to one’s own environment. Personality can be useful in analyzing consumer behavior for certain product or brand choices. A brand personality is the specific mix of human traits that may be attributed to a particular brand. For example, Mountain Dew is attributed with thrill and ruggedness. Then there is a person’s self-concept or self-image. Its basic premise is that people’s possessions contribute to and reflect their identities, that is, “ We are what we have”.

Some of the Components of personality are as follows:

1.Consistency - There is generally a recognizable order and regularity to behaviors. Essentially, people act in the same ways or similar ways in a variety of situations.

2.Psychological and physiological - Personality is a psychological construct, but research suggests that it is also influenced by biological processes and needs.

3.Impact behaviors and actions - Personality does not just influence how we move and respond in our environment; it also causes us to act in certain ways.

4.Multiple expressions - Personality is displayed in more than just behavior. It can also be seen in out thoughts, feelings, close relationships and other social interactions.

                                                       
Many videos can be found on personality of many different types of people
in terms of how they are presenting themselves in the videos and how they
are explaining the purpose of making the video.

SELF CONCEPT  is a multi-dimensional construct that refers to an individual's perception of "self" in relation to any number of characteristics, such as academics (and nonacademics) gender roles and sexuality, racial identity,and

 many others.Self-concept does not appear to be instinctive, but is a

social product developed through experience, it possesses relatively

boundless potential for development and actualization. Because of previous experiences and present perceptions, individuals may perceive themselves in ways different from the ways others see them.Any experience which is inconsistent with one's self-concept may be perceived as a threat, and the more of these experiences there are, the more rigidly self-concept is organized to maintain and protect itself. When a person is unable to get rid of perceived inconsistencies, emotional problems arise.

Self-concept requires consistency, stability, and tends to resist change. If self-concept changed readily, the individual would lack a consistent and dependable personality. The more central a particular belief is to one's self-concept, the more resistant one is to changing that belief. At the heart of self-concept is the self-as-doer, the "I," which is distinct from the self-as-object, the various "me's." This allows the person to reflect on past events, analyze present perceptions, and shape future experiences.

The video below tell about the self-concept

 

Syed Jafri

Business and Marketing Student

Bucks

SEGMENTATION TARGETING AND POSITIONING

 Follow these ONE BY ONE

1. SEGMENTATION

The purpose for segmenting a market is to allow the marketing/sales program to focus on the prospects that are "most likely" to purchase the particular offering. If done properly this will help to ensure the highest return for the marketing/sales expenditures,spending on whether they are selling the offering to individual consumers or a business.

Why should we do segmentation ?

1.Reduction in expenses
Prospects might be businesses that are downsizing (right sizing), businesses that have products in the mature stage of their life cycle or individuals with credit rating problems.

 

2.Improved cash flow

Prospects might be businesses that have traditionally low profit margins, businesses that have traditionally high inventory costs or individuals that live in expensive urban areas.

 

3.Improved productivity

Prospects might be businesses that have traditionally low profit margins, businesses that have recently
experienced low earnings or individuals who have large families.

 

4.Improved manufacturing quality
Prospects might be businesses with complex, multi-discipline manufacturing processes.

5.Improved service delivery
Prospects might be service businesses in highly competitive markets, product businesses requiring considerable post-sale support or individuals in remote or rural areas.

6.Improved employee working conditions/benefits
Prospects might be businesses where potential employees are in short supply.

2.TARGETING




A target market or target audience is a group of customers that the business  has decided to aim its marketing efforts and ultimately its merchandise.A well-defined target market is the first element to a marketing strategy


Target markets are groups of people separated by distinguishable and noticeable aspects. Target markets can be separated into:

• geographic segmentations (their location)

• demographic/socio-economic segmentation (gender,age, income occupation, education, household size, and stage in the family life cycle)

• psychographic segmentation (similar attitudes, values, and lifestyles)

• behavioral segmentation (occasions, degree of loyalty)

• product-related segmentation (relationship to a product

 

Example of targeting can be as follows:

1.World Wrestling Entertainment’s (WWE) target market is young males. Monday Night RAW is the number one entertainment program among male viewers (2 million+) including the male demographics of 18-34, 18-49 and 25-54. It is shown at 9:00 PM ET to reach its target market

The video below tells more about segmentation and targeting by the vice president of global merchandising

3.POSITIONING



Positioning can be said as the process by which marketers try to create an image or identity in the minds of their target market for its product, brand, or organization.

Re-positioning involves changing the identity of a product

De-positioning involves attempting to change the identity of competing products, relative to the identity of your own product.

Positioning can also be defined as identifying a market for a brand, product or service utilizing traditional marketing placement strategies (i.e. price, promotion, distribution, packaging, and competition).

Usually the process of positioning is as follows:

1. Defining the market in which the product or brand will compete (who the relevant buyers are)
2. Identifying the attributes (also called dimensions) that define the product 'space'
3. Collecting information from a sample of customers about their perceptions of each product on the relevant attributes
4. Determine each product's share of mind.
5. Determine each product's current location in the product space.
6. Determining the different types of combination according to consumer taste.

So therefore it can be seen that much important is Segmentation Targeting and Positioning for any organisation.


Syed Jafri
Business and marketing management student
BUCKS



                                                      

                                          PERCEPTION

Perception is a process which allows us to organise interpret and ultimately act upon sensory information coming to us from our outside world

 OR

Perception is a process of acquiring interpreting selecting and organising sensory information.

Perception is different from sensation. we all may be having same stimulus but our indivitual perception of it can be different. this is a consequence of our perception where our senses and past experience combines. For example two girls are walking down the street and they pass a boy. one girl think that he is highly fanciable, the other girl thinks otherwise.they both sense the same stimulus but there perception is different as a result of any past experience. the second girl may be a recent victim of any domestic violence so her percepion will be different because of her past exprience of men.

So here we can see that how perception becomes different from sensation.

All human being have 5 senses namely

1.Ear

2.Touch

3 Mouth

4.Eyes

5.Nose

 

These senses always react when ever we get attracted to any kind of product. If we go to buy a food item and when we will look at the product, then our senses will first start interpreting.with the help of these senses we can imagine about the food that how it will be.our eyes look its packaging, our nose will smell the taste, our mouth will be wanting to taste it and our ear can hear the sounds which is come when the food is heated and served.......All these reaction makes us attract more towards the food item and makes us more hungry for it.

So here we can see that how a food item can be analyzed completely with the help of senses

Below is the video to test a perception.

Syed Jafri

Business management student

BUCKS