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Sociology Social Class

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Social class is made up of people with similar social status which are classified on the basis of prestige and esteem gained through accumulation of wealth and economic success. Each class (upper/middle/lower class) has a set of values, beliefs, attitudes and behaviour norms which are different from other classes. Quoting from Dr. Anthony Giddens, “A class is a large-scale grouping of people who share common economic resources, which strongly influence who share common lifestyle they are able to lead.”

Despite the term ‘class’ first came into wide use in the early 19th century, reflecting changes in the structure of western European societies after the industrial revolutions of the late 18th century, replacing such terms as ‘rank’ and …show more content…
Perhaps the most obvious effect is the level of income of each social class. In general, the rich have the ability to purchase more consumer goods than those with lesser income, and those goods tend to have higher quality. There is also a distinct type of goods being purchased, for example, the upper class tend to be the main source of buyers of fine jewellery and often shop at exclusive retailers. On the other hand, the lower class mainly focus more on necessities. From the perspective of marketing, marketers must be very attentive of the social class of their target market. For example, if a marketer wishes to target the upper class, then the market offering must be designed to meet their expectations in terms of the quality of products or services. If a marketer wishes to target upper-middle class, material goods often take on major symbolic meaning for this group because in general they are ambitious people who have succeeded economically and seek to enhance their quality of life. According to the most recent data available from the National Statistics Office, 49.9% of the Ecuadorian population can be labeled as “middle class.” Following due to the subsequent dollarisation and economic crisis, the middle class has appreciated some encouraging conditions that affected its consumption behaviour positively. A strong middle class can have a profound effect on poverty reduction. For example, inequality is a concern in Ecuador. According to Canelas, the richest 20% of the population held over 50% of the wealth during the first decade of the twenty-first century. These datas support some authors’ work, such as Franco, Hopenhayn, and León (2011) find that in Latin America, the middle class is growing and the level of consumption of goods such as mobile phones and cars is rising. Furthermore, Solimano finds that a strong middle class can generate consumer power and social

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