What is Status in Marketing?

Learn Status definition in marketing with explanation to study “What is Status”. Study status explanation with marketing terms to review marketing course for online MBA programs.

Status Definition

  • One's position within his or her own hierarchy or culture.

    Principles of Marketing by Philip T. Kotler, Gary Armstrong



Status Explanation

A status is an apparent unmistakable, outside signification of one's social position and saw marker of financial or economic well being. Numerous extravagance merchandise are frequently viewed as grown-up toys. Materialistic trifle is additionally a sociological term - as a component of social and sociological representative collaboration ism - identifying with how people and gatherings cooperate and decipher different social images. s individuals try to high status, they frequently look for likewise its images. Similarly as with different images, grown-up toys may change in worth or importance after some time, and will vary among nations and social districts, in light of their economy and innovation. Materialistic trifles additionally demonstrate the social estimations of a general public or a subculture. For instance, in a business society, having cash or riches and things that can be purchased by riches, for example, autos, houses, or fine garments, are viewed as materialistic trifles.

Keep Learning Marketing Explanations

What is Marketing Strategy Development?

Advertising methodologies provide your independent company a guidance toward powerful advancement. Promoting systems contrast starting with one business then onto ...

What is Differentiated (segmented) Marketing?

Differentiated marketing is a strategy focus more on company's promotional campaigns that caters two market segments. However, it is use ...

What is Market Challenger?

A market challenger is a firm that has a piece of the overall industry beneath that of the market chief, ...

What is Channel Power?

Channel Power is defined as an ability of another channel member to reshape the behavior of other members associated with ...

What is Consumer Product?

Consumer products are the products purchased by a common consumer for household consumption. It is also known as final goods. ...

What is Product Assortment?

Picking the correct blend of items to sell in a retail location requires more than picking things with the best ...