The Role of Brand Prominence
In today’s society more now than ever, is run by money. Even though most say we’re all considered equal, many people still pass judgments based on one’s social status and how much money a person is worth. People in society today like to flaunt their wealth and constantly try to outdo each other despite what really might actually be going on. Things such as the bigger house, the brand name clothes, expensive jewelry, and the nicest car are what people may use to determine their social status. With our society, people feel as though they gain more respect if they appear of a higher social class. Unfortunately, in America we are divided up into classes based upon monetary status and how we are perceived.
These classes consist of the lower class, the lower middle class which is about 20% of the population and is mostly made up of minority groups. Then there’s the lower middle and upper middle class which is the vast majority of the population. Then last but not least there is the upper class; this class is only made up of about 1%-3% of the American population. The total wealth of the upper class equals the wealth of the lower 95% of the American population. The extremely small group of wealthy people is what most people aspire to become because is today’s world, money is power. Which for most people money is everything and you can’t them any different.
The popular phrase ”money can’t buy happiness” is not more or less completely true. Despite what most people may think or say money can bring you remotely close to happiness. Everyone knows money can buy friendship or love but it can buy that luxurious lifestyle you always dreamed of. Money can build character which would contribute to your social status. It also says a lot about you and how you portray yourself to others. Having an abundant amount of money determines your health, education, and your standard way of living.
Being wealthy also puts you in a confident mindset and...
References: Han, Y., Nunes, J., & Drèze, X. (2010). Signaling Status with Luxury Goods: The Role of Brand Prominence. Journal of Marketing, 74(4), 15-30. doi:10.1509/jmkg.74.4.15.
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