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Socioeconomic groups

Socioeconomic groups share similar characteristics defined by social and economic factors such as income, education, occupation and place of residence. Socioeconomic classifications are often as part of a segmentation strategy. High-net-worth groups are of interest to marketers due to their purchasing power, particularly for luxury brands. Low-income Bottom-of-the-Pyramid (BOP) groups are also of interest due to their very large size, particularly in developing markets. However, marketers increasingly focus on other groups defined, for example, by life-stage or shared passion.

Key Reading

Important papers from across the Warc database

The key steps marketers need to take to market effectively to rural consumers in India – a growing population of 840 million - where participation in fairs and festivals is a good way to engage.
How brands can build successful community links.
A guide to reaching and supporting low income households, with ethnographic insights into their aspirations.
Why affluent consumers are statistically more likely to be male, aged 25-34 and married.

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