How does social class and income affect consumer behavior?

Each person has their mindset and their choice. A person can be affected by his/her social class and income. Marketers now understand the need to target this mindset and psychology of their consumers, while also understanding all the elements that influence their behavior to develop targeted and effective marketing strategies. The social class that a person belongs too slowly influences their behavior. Social classes consist of individuals that have similar values, behavior, and lifestyles. Marketers must pay close attention to social classes because the buying behavior of people in a particular social class, for the most part, Is similar, whether the level of influence is high or low, a marketing campaign can be tailored according to different social classes. At times consumers can be influenced by a social class that he/she does not belong but has the desire to connect with others. Marketers must understand these situations well and plan their strategies to achieve the full potential of such social constructs. Income plays a role as well in affecting a consumer’s behavior by labeling consumers by prestige and salary. Income determines what they can buy, can own, or choose to purchase based on financial ability. Income can affect how a consumer carries themselves socially, at work, with friends, or even with family. The income of an individual influence their consumption patterns. A consumer’s behavior is determined by the factors listed above. Marketing teams must understand these factors and develop strategies and market themselves accordingly to meet the needs of consumers and ultimately drive sales.

By: Brandon Diaz

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