Middle class consumers are increasingly moving to upper middle class incomes and seeking more health-oriented products. Automobile manufacturers are targeting this growing middle class market in China by manufacturing vehicles locally. Marketers have also started offering near-luxury products at more affordable prices to attract more middle class customers.
Middle class consumers are increasingly moving to upper middle class incomes and seeking more health-oriented products. Automobile manufacturers are targeting this growing middle class market in China by manufacturing vehicles locally. Marketers have also started offering near-luxury products at more affordable prices to attract more middle class customers.
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Middle class consumers are increasingly moving to upper middle class incomes and seeking more health-oriented products. Automobile manufacturers are targeting this growing middle class market in China by manufacturing vehicles locally. Marketers have also started offering near-luxury products at more affordable prices to attract more middle class customers.
Copyright:
Attribution Non-Commercial (BY-NC)
Available Formats
Download as PPTX, PDF, TXT or read online from Scribd
•Boundaries of “middle class” is not easy to define.
•However “middle market "can be defined as middle fifty
percent of house hold incomes.
•Marketers range middle class from lower middle class to
middle- middle class in terms of some acceptable variables like income ,education or occupation.
•Nowadays, it is evident that middle -class consumers are
increasingly moving upstream to the ranks of upper middle class. Tropicana and Other Fruit Juice companies are targeting Middle Class Indian Consumers who are seeking more health oriented products. American Car Japanese Car Korean Car “Zenn” “Honda ‘Hyundai Accent” City”
American ,Japanese and Korean Automobile
Manufacturers are manufacturing their vehicles in China since Chinese Middle Class market is growing rapidly. Moving up to more “Near” Luxuries
• Introduction of near luxury models by major luxury brand
firms allowed more middle class consumers to have access to products that were considered once beyond their reach.
• Today, Marketers have realized that middle class
customers are purchasing more high style products often at not so high prices.
•Traditional Marketers of luxury products have been
expanding their offerings to more affordable merchandise. What is Working Class?
•Households earning $34,000 or less
control more than 30% of the total income in the U.S.
•These consumers tend to be more brand
loyal than wealthier consumers Working class And Other Non Affluent Groups • Working class or Blue collar represent a vast group of people that marketers cannot ignore.
•Downscale consumers are actually more brand loyal
than wealthier customers because they cannot afford to make mistakes by switching to unfamiliar brand.
•Marketers must be sensitive to realize that food is
particularly important purchase area for low income group.