These are marketing terms and are all under the umbrella of Market Segmentation which is to identify portions or subsets of a broad target market that are different from one another and use that information to your advantage to implement a more strategic marketing approach that will yield you or your company a better result.
We will deal with Demographic, but they all tie together.
U.S. Population has four classes each class has a subclass they are defined as the following:
- Upper Class: The upper upper class are 1% of the U.S. Population. These are the social elite. They live on inherited wealth, give large sums to charity and own more than one home. They send their children to the finest schools.
- The lower upper class are 2% of the population. They have earned high income or wealth through exceptional abilities. They are active in social and civic affairs and they buy expensive homes. They also provide the very best education for their children and buy luxury cars.
- The middle class: The upper middle class make up 12% of the population. They are professionals, independent business owners and corporate managers who possess neither family status or unusual wealth. They believe in education and are joiners. They are highly civic minded and want the better things in life.
- The lower middle class are 32% of the population. They earn average pay and are white collar or blue collar workers. They live on the better side of town. They buy popular products to keep up with trends. Better living to them means owning a nice home in a nice neighborhood with good schools.
- The largest class is the working class they are roughly 38% of the U.S. population. They lead a working class lifestyle. No matter what income they have they depend heavily on relatives for economic, emotional support and advice on purchases and assistance in times of trouble.
- The final class is the lower class they are 9% of the population. They are considered the working poor. Their standard of living is just above poverty. They strive to gain a higher class. They lack education and are poorly paid for unskilled labor.
- The subclass is the lower lowers which accounts for 7% of the population. They are visibly poor. They are poorly educated, unskilled laborers who are often out of work. Some depend on public assistance and tend to live a day to day existence.
Where do you fall in this chart? Even if you are not in the U.S. this system of status or lack of it based on your level of monetary production in society is important to know. The younger you are the better. Those close to retirement must consider how you will spend your golden years.
J.D. Rockefeller shown above was one of the wealthiest business men ever. His grandson David Rockefeller
Is 100 years old today as of this posting and he is very active in the things he chooses to create. His Grandfathers legacy has lived for six generations of wealth that have been passed down. Just look at his suit. Rockefeller was not born to wealth watch this quick video
I love this series. If you haven't seen it, get it. It is so inspiring.
Are you on track to get there or is it a dream?
Make sure you share this information, it is vital that those who may not know find out from smart people like you. Tweet, F.B., LinkedIn, G+, Pin us and email if that's the only way to get the info to them. Sharing is caring.
To your success,
DS Woodard
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