2021 [c] Lecture 9. Part 3 - MN-M025 Emotion & Theories of Emotion.pptx

Emption Theory

1. Lecture 9. Part 3 - Materialism MN-M025 Consumer Psychology

2. What is Materialism? “A set of centrally held beliefs about the importance of possessions in one’s life” (Richards & Dawson, 1992 p. 308) The value a consumer places on the possession of material objects Individuals who are highly materialistic hold the belief that wellbeing can be enhanced through their relationship with objects “Unfortunately, this search for wellbeing through material possessions appears to be a futile quest” (Burroughs & Rindfleish , 2002 p.349)

3. Who is to Blame? Industrialised societies – encourage consumption regardless of possessions Fierce marketing campaigns – push to notion of a better life if you have these products/services or buy more of them Social Comparison - we observe others around us and assume having lots of possessions is the norm Many people feel they need to compete as a consequence TV fuels feelings that it’s important to own certain items or use certain services In fact the consumption of TV for many becomes a habit, or even an addiction = lower life satisfaction Individuals may become overly materialistic and consequently ‘addicted’ to consumption

4. …and of course, this nonsense

5. Materialistic Consumers Alcohol, nicotine, drug consumption, sugar, caffeine, fats – Individuals may consume in non-rational ways However, consumers may also be negatively affected when they become overly engaged with a number products – this is what materialism is about Those individuals with high materialistic value orientations (MVO): Likely to own more credit cards Get into debt/be in debt Leads to psychological and practical issues Materialistic consumers tend to: Use products in the hope of compensating for something missing in their lives Onset can be in childhood, teenage years or adulthood Pick me ups

6. Who Becomes Addicted to Shopping?