Prestige Flashcards
Prestige motivation in events
O’cass and frost,2002
Eastman, goldsmith and Flynn,1999
“Status consumption is the process of gaining status or social prestige from the acquisition and consumption of goods that the individual and significant others perceive to be high in status”
“The motivational process by which individuals strive to improve their social standing through the consumption of consumer products that confer and symbolise status both for the individual and surrounding significant others”
Prestige
. Dynamic nature of symbolism
. Uncertainty of prestige value
. Hidden need- do you do things for prestige?
. Do they admit it? Need to be seen not wanting it
Rationale
. Personal vs interpersonal needs
. Motivations research: breadth vs depth of analysis
.public luxury- high reference group influence
. Differentiation/ added value to the offering
. No empirical validation of the prestige motivation model (correia and moital,2009)
How people react to the consumption of prestige?
POSITIVE
Positive : Greater levels of excitement Feeling special Smug Privileged Spoilt Lucky Happy Proud
Consumption of prestige
Negative
Fomo
Regret
Embarrassment
Conspicuous value
Price of ticket Dress code (expensive) Spending at the event Wealthy area People who attend have money
Unique value
Once in a life time
Tradition
Consume posher things that you wouldn’t normally do
Tickets hard to get hold of/sell fast
Smart dress code- different from everyday
Exclusive
Separated from everybody else
Social value
Affiliation :
Known strangers: celebrities, famous people, VIPS
Unknown strangers: general participants(posh+upper class)
Lots of people
Known people: co-workers and friends go- don’t want to miss out
Emotional value
Atmosphere
More emotion involved
More anticipation
Feel part of something (special)
Quality value
Venue: high standard, high quality
Service: well organised, silver service, high quality service, less waiting time
Food and drink: high quality
Clothing: luxurious/ high quality dress code
Consequences - cognitive
More effort put into attending
Willingness to role play
Willingness to attend : pay higher prices, spend more on the day, spend more on outfits
Perceptions of higher class
Kudos- good rep
Jealousy
Perceived as rich/posh
More memorable - want to tell people about it
Consequences - affective
Excited/enjoyed
Feeling special
Proud
Fomo
Regret
Embarrassment
Implications : marketing the event
Product - different areas
Marketing communications: use of language
Pricing strategies - differentiated, premium pricing
People- appearance, level of service
Physical evidence- symbols of prestige, clothing
Process- silver service
