The Psychological and Socio-economic Status of the Clientele: Its impact upon the sale’s value of the product.

Abstract

In the present corporate culture, the socio-economic status coupled with the psychological approach of the consumer is the defining indicators in determining the sale value of every product. The selection and the purchase of any product reflect the social and the psychological profile of the customer. Presently, in the economic perspectives, the society is bifurcated in different Statas. The ultra-rich class, the rich, the middle class and last but not the least there is a class of the society who visits the market rarely. Every class among the mentioned prefers to purchase the product according to their lifestyle. Accordingly, even the outlet of different brands bears different price tags in the different markets. In this regard, it has been observed that the customers opt for that market which matches his/her lifestyle. This entire phenomenon manifests the socio-economic status and ultimately the behavior of the clientele.

Keywords: Consumer Buying Behavior (CBB), Psychological & Socio-economic factors