The Concept of Status Consumption With Regard to How a Marketer Might Essay

The Concept of Status Consumption With Regard to How a Marketer Might be adapted to Use Status to Market a Specific Brand or Product Type - render ExamplePeople with high degree of honour in bon ton are simply referred to realize billet. Logically, spate with high favorable status have much recognition than mickle with low social status. In this direction, there are muckle who believe that real success in life has to do with the attainment of status. Regrettably though, Waytz (2009) observes that the eagerness to acquire social status leads to aggressive and self-defeating behaviour. However, once achieved, fitting a individual of status or class live its benefactors with a conventional ways of life. unmatchable of these conventional ways of life has to do with what these people with social status consume thus status outlay. As there become a pedigree of standard placed on the kind of purchases people with status consume, marketing as an industry also become a benefactor if well attach with status consumption (Haruna, 2003). What is Status consumption? Schertz et al (2007) repugn that status consumption has to do with the clothed of showing off wealth to others when the good is publicly consumed ranging from applying an expensive lipstick in public to madcap an expensive car (p. 2). ... As Maiese (2004), notes in Harold (1983, 113), there could be several reasons accounting for why people would consume conspicuously but the approximately outstanding reason could be due to the fact that most societies do have some form of social hierarchy with some people in stronger, more than dominant positions, and other people in weaker, lower positions. So in other for the one-time ordinary person to be noticed and accorded necessary social respect, he or she would then resort to status consumption. Again, with the satanic still going to society as the cause of status consumption, it would be in place to argue that society expects people occupying seal ed positions to live within a certain conventional class. To this effect society always want to see people such as politicians, music icons, movie stars and sports personalities own certain property, that are tagged as expensive or of class. These are the major reasons why status consumption continues to exist among both the one-time ordinary person and the so-called people with status. There are people who put on that status consumption automatically leads to social status acquisition. This is of course another reason why people resort to status consumption. To such people, there is a level of benefit to them. Nobel Laureate economist, John Harsanyi, verbalize that apart from economic payoffs, social status seems to be the most important incentive and motivating essence of social behavior (Waytz, 2009). For this reason, people who succumb to status consumption with the hope of gaining social status take a level of psychological satisfaction of the presumed lens with which societ y sees them. Empirical Scenarios of Status Consumption single group of people