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Discuss the concept of status consumption and how a marketer might be able to utilise status to market a specific brand or product type

Discuss the concept of status consumption and how a marketer might be able to utilise status to market a specific brand or product type.

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language english
wordcount 2144 (cca 6 pages)
contextual quality N/A
language level N/A
price free
sources 13
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Preview of the essay: Discuss the concept of status consumption and how a marketer might be able to utilise status to market a specific brand or product type

Discuss the concept of status consumption and how a marketer might be able to utilise status to market a specific brand or product type. In just over a decade, due to the development of living standard and globalization of markets, the consumer behaviour has been changing. One major difference that has been shown is more and more consumers start turning their purchasing pattern to status consumption. This phenomenon of consumption has already been focused and researched. The aim of this essay is to discuss the understanding of status consumption, and give emphasis to analyse how to use status to market a luxurious product or brand. ...





... marketers, because more and more consumers are involved in this consumer behaviour and it has been influencing our markets. Status consumption would become a significant component of marketing. In order to market a specific product or brand better by using status, those above suggestions might help marketers to complete the project in the future. The mainly available methods are identifying consumers’ status, developing brand value, offering relevant products for status consumption and regarding young consumer behaviour.
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Economics
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Marketing
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