Some theorists do not include income in their measure of social class, arguing that it is unnecessary. Defend this point of view and also explain why income is added when measuring social class in marketing

Question

What will be an ideal response?

Answer 1

According to the text, social class has two major components: occupation prestige and income. Income by itself is not a good predictor of social class. The terms "unprivileged" and "underprivileged" are used to explain how income does not adequately explain the behavioral differences between the classes. Income, in fact, can be seen as a result of occupation and education. Income can be seen as a result of class rather than a cause of class differences. As pointed out in the text, there is an interrelationship between income and social class in how customers relate to a number of product categories, meaning that a business must know both to successfully market a number of products.