Advanced Search Abstract While research on conspicuous consumption has typically analyzed how people spend money on products that signal status, this article investigates conspicuous consumption in relation to time.
Excerpt from Term Paper: Conspicuous consumption is often thought of as unnecessary spending or the purchasing of products that are not necessities. Increases in upward mobility have increased conspicuous consumption patterns in nations around the world.
Marketing professionals are eager to find the target markets that engage in conspicuous consumption. The purpose of this thesis was to examine the conspicuous consumption of the Y Generation in Taiwan. Our research found that there are clear differences between luxuries and necessities and that the characteristics that distinguish each can differ from country to country.
The discussion also discovered that conspicuous consumption is defined as "the consumption of goods and services on a grand scale for the purpose of demonstrating pecuniary power rather than that of providing utility through use.
The thesis demonstrated that Generation Y is likely to engage in conspicuous consumption and should be targeted as a potential market.
We also found that the conspicuous spending of the Y generation has been greatly influenced by Baby boomers and Generation Xers that preceded them. We also discussed the results of a survey, which measured the conspicuous spending of Generation Y The survey, consisting of participants, focused on the frequency with which they purchased brand named products.
The study suggests that many in this generation desire to purchase brand name products even if they can't afford them.
The survey also suggest that generation Yers decision to purchase name brand clothing is based on the quality of the product, peer pressure and, psychological factors. The study also found that females in this generation are more likely to make conspicuous fashion purchases than their male counterparts were.
The implications of the study suggest that marketing professionals should attempt to market products to this segment of the population.
The findings of the literature review and the subsequent survey illustrate that individuals in this generation have money and are willing to make conspicuous purchases. Marketers must grab hold of the potential that exist with this generation and attempt to get and keep their business.
Therefore, market segmentation has always been considered one of the most important practices in marketing for the two following reasons. On the one hand, market segmentation is crucial because it directly affects how a market is understood and defined in the minds of consumers.
On the other hand, market segmentation has strategic function in the process of target market selection and the subsequent development of successful and effective marketing programmes accordingly.
Due to the important role market segmentation plays in strategic marketing implementation, generation Y is a distinguishable target market segment that business operators must play close attention to. These operators must gain insight into behavioural purchase patterns as well as the underlying psychological motivation for the consumption of luxury products.
With emerging massive purchasing power in years to come this generation will be a force to be reckoned with. Generation Y differs greatly from its preceding generations. Therefore, understanding what consumers are looking for from luxury products is increasingly important for marketers from luxury industries.
Luxury goods are expensive and sometimes considered as "trivial" products without any clear functional advantage over their "non-luxury" counterparts Dubois and Duquesne, Therefore, it is generally believed that there should be some additional emotional appeal attached to the purchase of luxury goods that force people to spend a greater sum of money on luxury goods anything else.
In her book The Consumer Society, Baudrillard proposed the following: Baudrillard In other words, sometimes when people conduct a series of consumption, it is no longer a particular object in its specific utility that matters; but the underlying meaning of that object in representing personal identity, status or other symbolic values.
Baudrillard Buadrillard's attitude toward consumption is quite similar, to a certain extent, to the previous theory known as conspicuous consumption from the initial U. According to the author, Veblen conspicuous consumption was defined as the purchase of more improved and elaborate goods as an indication of wealth, thus followed by a sense of personal comfort and well-being.
Therefore, under the influence of conspicuous consumption, the value of physical goods is transformed into a kind of cultural signifier that is used by people as medium to communication with the outside world by offering the messages of abundance and affordability of high-priced items among certain individuals Campbell, Conspicuous Consumption The Relationship between Luxury Purchase as Conspicuous Consumption and Y Generation -Take Designer Brands for Example Conspicuous consumption is a complex concept that requires a great deal of quandary.
Conspicuous consumption is often thought of as unnecessary spending or the purchasing of products that are not necessities.
ABSTRACTThis article examines materialism, conspicuous consumption, race, and hip-hop subculture. Our study used survey data from over 1, individuals.
Journal of International Consumer Marketing Volume 26, - Issue 4. Submit an article Journal of Consumer Research 40 (1): 1. provided by conspicuous consumption and the research approaches and different contexts (see Jarratt, for an overview).
However, some consensus has been reached that some shoppers exhibit stable shopping styles and behaviors The Impact of Status Consumption. From the study it can also be concluded that effects of psychological and brand antecedents on consumers' conspicuous consumption will be different when examining different product and demographic target segments.
Journal of Product & Brand Management, It explains the factors that middle aged customers consider when making buying. Differences in status consumption tendencies between males and females were not found; however, in relation to conspicuous consumption gender differences were found.
Start studying Consumer Behavior #2. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Search. -use 66 different segments of individual households. approaches in personality research that focus on specific consumer traits as motivators of various consumer behaviors.