Chapters 1; 12; 13; 14 Flashcards
Disposition meaning
The process by which a consumer discards an offering.
nuclear family meaning
couple and their children
trickle-down vs trickle-up vs trickle-across consumption
down: products consumed by upper classes are adopted by lower classes
up: products consumed by lower classes adopted by upper classes
across: products adopted by all social classes almost instantaneously
Status crystalization
Consumer has a consistent pattern across the indicators of socioeconomic status
Status threat
fear of downward social mobility (that you might fall from parents’ higher to middle class)
Conspicuous consumption meaning
getting and displaying goods, services and brands to signal one’s status
Conspicuous compassion meaning
Publicly donating to charity to signal one’s morality
Conspicuous waste meaning
Visibly buying products that one never uses
Voluntary simplicity meaning
limiting consumption to live a less material life
Status symbol meaning
Product/brand/service that signals one’s higher social class to other consumers
Parody display meaning
Status symbols start in lower social class and move upward
Compensatory consumption meaning
buying products to offset frustrations or difficulties
Generational cohort theory
independent of age and period, generations share similar defining life event, thus also values and patterns of behavior
Agentic goals vs Communal goals
Agentic: goals that emphasize mastery, self-efficacy
Communal: Goals that emphasize affiliation, harmonious relations
Clustering
grouping consumers based on common characteristics
Acculturation meaning
process of change in values, beliefs and behaviors due to intercultural contact
Bicultural consumers meaning
consumers identifying with both cultural heritage and host culture
Faith-based marketing meaning
addressing consumers’ religious beliefs and values with faith-friendly communication and products
Psychographics meaning
Description of consumers based on their psychological and behavioural characteristics (personal values, personality traits, lifestyles)
Core values meaning
Person’s most enduring, strongly held and abstract values that hold in many situations
Terminal values meaning
Desired end states such as equality and pleasure
Instrumental values meaning
intermediate values needed to attain desired end states such as honesty (to attain equality), cheerfulness (to attain pleasure)
Hedonism meaning
the principle of pleasure seeking
allocentrism meaning
consumers preferring dependence on people
