International Journal of Engineering, Business And Management(IJEBM), Vol-5,Issue-3, May - June 2021, Pages 47-53 , 10.22161/ijebm.5.3.5
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Article Info: Received: 18 May 2021; Received in revised form: 09 Jun 2021; Accepted: 16 Jun 2021; Available online: 20 Jun 2021
Social class is not a novel concept, however, the connotation of social class has varied over the periods and countries. Various authors and scholars have stratified social class based upon occupation, income, and education. India is ethnically rich because of the diverse cultures practiced within it. Hence, this empirical research paper hypothesizes that the population of India would perceive social class with a different connotation compared to other countries. There was a survey conducted to look upon this hypothesis, and it validated that there is a difference in the inference of social class perceived by people, and it includes culture/caste/traditional practices or beliefs as a determining factor of social class. Hence, it is argued in this paper that marketing strategy developers, while considering social class as a factor of analyzing consumer behavior must look into the connotation of 'social class' and then stratify the consumers based upon it.