UPPER MIDDLE CLASS
(Activities, Interests and Opinions)
Principles of Marketing Assignment
Middle Class is considered as the most significant social class for the growth and development of an economy. There are three main reasons for considering the middle class vital for economies. These include:
1. New entrepreneurs emerge from the middle class who create employment and opportunity of growth for the rest of society.
2. The middle class with its strong values stresses on the accumulation of human capital and savings.
3. The middle class consumer is willing to pay a little extra for quality, thus, encouraging investment in better quality production and competitive marketing, which spurs higher level of production and leads to increasing income for everyone.
Factors Identify Social Class:
For the identification and measurement of the middle class, mainly two methods are used to define who is included, and who is not, in the middle class. The most commonly used dimension is purely economic in nature as it bases the rationale of inclusion, or exclusion, in the middle class solely on personal income or expenditure. There is however criticism on this over reliance on income and for ignoring other factors, like occupation, wealth and labor market relations.
Upper Middle Class:
It is the top social class in the group of middle class. People with Higher incomes, sound professions, medium businesses, medium investments, own residence, some standard in food and clothing, personal transport (car) and good educational backgrounds are the part of upper middle class.
Upper Middle Class Karachi:
In Pakistan upper middle class is mainly found in urban areas. Particularly talking about Karachi, there is a large percentage of middle class and upper middle...