Lecture 2: Consumers in the marketplace

Question 1

Levy (1959) states: Greater attention to consumers….

Answer 1

• Modes of thought will give marketing management and research increased vitality

Question 2

What are some main points Levy discussed in his 1959 article?

Answer 2

• Everyday, we as consumers assign symbols and meanings to the things we buy
• The people in your life come up with ideas of who you are as a person based on your consumer choices
• What we consume now becomes part of our identities to the outside world

-Levy articulates brilliantly how crucial it is for marketers to understand what symbolic value their products and services hold on a societal level

Question 3

What did JB Mackinnon hypothetically suggest we do?

Answer 3

Cut our consumption by 25%

Question 4

What is a consumer society defined as?

Answer 4

A society directed largely by the accumulation and consumption of material goods

Question 5

GK. Chesterton suggested there are two ways to ‘get enough.’

What are they?

Answer 5

• Accumulate more and more

or

• Desire less

Question 6

Characteristics of modern society?

Answer 6

• Increase in consumer choice
• Marketisation
• Expansion of shopping as a leisure pursuit
• Changing attitudes to debt
• Increased emphasis on the style, design and appearance of goods
• The pervasiveness of advertising

Question 7

What is Conspicuous consumption?

Answer 7

Purchase of goods or services for the specific purpose of displaying one’s wealth

Question 8

Example of conspicuous consumption?

Answer 8

• Louis Vuitton “Straws and Pouch” = £810

Question 9

Criticisms of a Consumer Society

Answer 9

• It erodes cultural differences.
• It creates superficial and inauthentic forms of social interaction.
• It inspires competition and individualism rather than solidarity and community.
• Contributes to compulsive buying

Question 10

Examples of ethically focused companies

Answer 10

• Patagonia and there ‘Don’t buy this Jacket’ campaign
• Lush

Unilever

Question 11

Key takeaways of the lecture?

Answer 11

• Production Vs Consumption & The Rise of Materialism
• Hedonic Vs Utilitarian Consumption
• We consume symbols to help create our identities to the outside world
• We expect companies to behave ethically but sometimes fail to do so ourselves.
• The (small) shift of consumption – from owning to sharing