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1. SOCIAL CLASS
BY HARSH MALHOTRA
3050/23

2. INTRODUCTION
•Financial position determines the buying power of the
society. Business depends on the buying power of the
people. Society has been divided by various people into
different sub-classes according to their financial position.
These sub-classes are termed as social class.
•This social class hierarchy includes three classes in the
society such as high class, middle class, and lower class.
Middle class is that class which exists between high class
and lower class.

3. CHARACTERISTICS OF SOCIAL CLASS
•1. Powerful class: Social class is the powerful class due to its growth orientedfeature. The
people in social class are interested towards the development.
•2.Difficult to define: Various government agencies have been defining the term social
class time to time . But any common definition has not yet been specified.
•3. Emerging class: The social class is emerging day by day. Significant increase in this class
has been perceived in the late 1980.
•4. Consumption oriented: Social class people are eager to consume as per their income
level. Business community targets these classes as priority.
•5. Education oriented: Education plays an important role in the progress of social class.
People obtain knowledge of various areas such as rights, duties, etc.

4. COMPONENTS OF SOCIAL CLASS
•1. Education: Education increases the knowledge and ability of academic and
professional traits. The spread of education has brought the awareness in the
society. Highly qualified people can earn good income.
•2. Increase in income level: Income level of the people is increasing at the world
level. People are earing good money in the modern business environment . Per
capita income is increasing year by year.
•3. Digital marketing: Digital marketing has attracted a lot of attention of the
buyers in the recent times. It enables the buyers to purchase the products without
visiting the marketing.

5. •4. Plastic money : ATM revolution has enabled the people to perform the monetary
transactions without paper money. Use of credit cards, debit cards, is affecting the
purchasing behaviourof the people .
•5.Urban culture : Urban culture is making people smart. Now the people are more
aware of the latest fashion and modern trends.
•6.Increase in employment : Employment opportunities are increasinginthemodern
eradueto increase in education, skills. Increaseinemploymentenhances the status of
living.

6. IMPORTANCE OF SOCIAL CLASS
•1.Increase in demand : When the people enters in the middle, upper middle and high
class from the poor and lower class, they purchase various products such as television
sets, car and houses. The increase in purchasing is directly related to the increase in
demand.
•2.Increase in production : The social class requires production of the goods and
services. Due to availability of the easy credit facilities, the people of middle class and
high class can acquire theproductswithout arranging the funds.
•3.Change in lifestyle : InIndia, the demand for communication devices, television sets
has increased as the result of rise of the middle and high class.

7. •4.Increase in competition : Increase in the demand increases the competition in the
business. Competition is beneficial for the people of middle class because most of the
purchase is done by the middle class.
•5.Offer and gifts : Increased demand results into competition between business firms.
In the situation of acute competition, firms present different offers and gifts to the
consumers to increase their market value. Middleandhigh classpeople make the
purchase of products at priority.