Principles of Marketing Assignment # 2 MBA 2 Year Regular Section A

SOCIAL CLASSES: Social classes are economic or cultural arrangements of groups in society. In the modern Western context, stratification typically comprises three layers: upper class, middle class, and lower class. Each class may be further subdivided into smaller classes. 1.i. Upper Upper Class. 1,ii. Lower Upper Class. 2,i. Upper Middle Class. 2,ii. Lower Middle Class. 3,i. Upper Lower Class. 3,ii. Lower Lower Class. UPPER UPPER CLASS: In social science the "upper class" is the group of people at the top of a social hierarchy. Members of an upper class may have great power over the allocation of resources and governmental policy in their area. Upper upper class: "Old money." People who have been born into and raised with wealth; mostly consists of old "noble" or prestigious families (e.g., Earl of Bhutto, Mian Mansha). While the upper class makes up a small percentage of the overall population, it controls a disproportionately large amount of the overall wealth. The main distinguishing feature of upper class is its ability to derive enormous incomes from wealth through techniques such as asset allocation, investments (including businesses, real estate, stocks, bonds etc.) and money management, rather than simply engaging in wagelabor or salaried employment. Successful corporate executives, entrepreneurs, investors, speculators, venture capitalists, traders, investment bankers, money managers, top level fund managers, stockbrokers, realtors, celebrities, university presidents, high ranking civil

servants, politicians, gamblers, and lottery winners. Some top flight educated professionals such as (doctors, lawyers, and accountants etc.) comprise a small cluster within this class of people. CHARACTERISTICS OF UPPER UPPER CLASS: 1. They are few and far between in any society. 2. They are employers, mostly businessmen or industrialists. 3. They exploit poor 4. They have common notion to make profit at the expense of teeming poor. 5. They have their own norms which are distinct from the culture of middle and poor, as well as, from subcultures. 6. They enjoy all luxuries of life. LIFE STYLE OF UPPER UPPER CLASS: Classes have direct consequences on life style. Life style includes tastes, preferences, activities and a general style of living. Residential Areas: The upper upper class prefers living in peaceful and posh areas, for example: in Karachi, this lead class belongs to either Defence or Malir cant. High Class Housing: This class normally prefers housing to be as simple and elegant. Furnishing and interior decoration are given high priority. Activities: This class has a high emphasis on activities that in a way shows their way of living. From the abroad tours in holidays to their passion for shopping, as well as their numerous events, all play a very important part in their life. INVESTMENTS: These people are long term planners and therefore invest accordingly, for example: Education: As educational attainment affects status attainment, therefore these people invest in education to occupy positions such as Top-level executives, high-rung politicians and heirs etc. Health:

As health is an important factor for them to look upon, therefore prefer spending over their health through daily gym shores, sports and routine checkups such as nutrition planners. They even plan vacations accordingly to enjoy the world luxuries, revitalize and to attain the state of peace. Consumption of Goods and services: They are brand conscious (Gucci, Nike, Guess, Body shop, prefer designer clothes (Deepak Pervani, Maria B, Aisha Warsi, Bhunto Kazmi etc) and other branded accessories. CONCLUSION As we noticed above, upper upper class of Pakistani has a very high standard of living; this population is an extremely small segment of the total population of the country. Naturally they have very different lifestyle from the rest of the population; their primary emphasis is on education, health, activities, events and other drivers of a lifestyle. Since this population is a very small segment, there are some highly prestigious products that are specifically made for them.