100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Summary Consumer and Marketing, Midterm 1, Chapter 1 $5.97   Add to cart

Summary

Summary Consumer and Marketing, Midterm 1, Chapter 1

 45 views  0 purchase
  • Course
  • Institution
  • Book

Consumer and Marketing, Midterm 1, Chapter 1

Preview 1 out of 2  pages

  • No
  • Hoofdstuk 1
  • February 14, 2023
  • 2
  • 2022/2023
  • Summary
avatar-seller
Chapter 1
Consumption Individuals / groups acquiring, using and disposing products, services, ideas or experiences.
▪ Globalization / growth of trade is a key element in the development of consumption.
▪ Locavores: movement aiming to connect food producers and consumers in the same
geographic region, aiming to develop a more self-reliant and resilient food network.
▪ Inappropriate consumption: not-ethically consuming.
▪ Industrial revolution: marketing, shopping malls, mass productions, season collections
arise (let people buy more then they need).
▪ Conspicuous consumption (Thornstein): the purchasing of luxury items to publicly
display wealth to enhance identity and/or prestige.
• Conspicuous time consumption: when busyness, lack of leisure time becomes a
status symbol.
• Chinese consumer groups:
1. Luxury newcomers: brand-conscious 70%
2. Status surfers: not brand loyal
3. Luxury connoisseurs: higher income /family money, more sophisticated
in purchasing;
4. Fearless young spenders: prefer trending over branded products.
▪ Higher accessibility of goods:
• Department stores arose around 1830;
• Catalogue shopping in US around 1900 (low population density);
• Self-service supermarkets (not asking assistant and impulse buying encouraging)
1930’s;
• Recent popular ways: pop-up stores (realize urgency), vending machines.
1. Consumerism Important because it illustrates the development of the active consumer, laying the ground for
the rise of consumer rights organizations, equality of access and opportunity and the
introduction of consumer protection legislation.
▪ Consumer sovereignty: represents exercise of freedom that people could have through
consumption.
▪ Consumer’s rights became (40’s onwards) more protected by government, organizations
due to activism and awareness, now same rise but for climate protection.
▪ Sustainable development goals: fight inequalities and tackle climate change.
2. Postmodern Emerged from consumerist movement, reflecting the varied ways that consumers value
consumer consumption and how they explore different identities through consumption: breaking down
the divide between consumer and production, realizing co-creation of value (consumer also
helps in production through creating products / connecting with the brand).
▪ Fragmented nature: postmodern consumers want to explore different and separate identities
to match fragmenting markets and proliferation of products (i.o. a unified persona).
▪ Marx: Exchange value: represents what value of a good is to the consumer and therefore
what it should be exchanged for, usually it’s price.
• Postmodernism: consumers use goods to create and manage their identities, trading at
▪ Use value: the value of a good to the consumer in terms of usefulness it provides.
• EX: when something is too expensive → exchange value > use value
• Now, sign value: symbolic meaning the consumer attaches to goods to construct and
participate in the social worlds.
3. Experiental Emerged in 1980’s, based upon ideas from postmodern consumerism, sees consumer as
consumption experience-seeker highlighting multisensorial nature of consumption feeding the consumers
feelings, hedonic and sensory focus (not rational-decision maker).
4. Consumer culture Takes experiental consumerism further but within wider social, historical and cultural world
theory context, with 4 main strands of research:

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller PaulTilburg. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $5.97. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

75057 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$5.97
  • (0)
  Add to cart