...branch of products in a limited area of research. Author focuses her study on a particular type of goods, affordable luxury products, and motivations of a target consumer group to buy it. Such limitation is considered adequate, as it allows us to study subject thoroughly, using smaller sample size of respondents and draw conclusions that can be used as a base for further researches. Respondents‟ group is formed by the luxury products‟ consumers. They are divided into two groups, the introverts and the extroverts, using test type questionnaire, based on Carl Jung‟s personality theory. The aim of the study is to find out a relationship between introverted and extroverted types of personality and motivations for status consumption of affordable luxury goods. The research questions are: “Does a personality trait affect motivations for consumption of luxury goods?”, “Which motives are typical for a certain type of personality?” The study brings together researches on status consumption motivations and Jung‟s the- ory of introversion - extroversion dimension of a personality by looking at possible connection between personality type and person‟s motives for consumption. The short theoretical frame of reference is presented by previous researches made on luxury goods consumers‟ segmentation by Han et al., Husic and Cicik; and researches 6 on status consumption of...
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...transformations of 16th, 17th and 18th century Europe. The consumer society emerged in the late seventeenth century and intensified throughout the eighteenth century. While some[who?] claim that change was propelled by the growing middle-class who embraced new ideas about luxury consumption and the growing importance of fashion as an arbiter for purchasing rather than necessity, many critics[who?] argue that consumerism was a political and economic necessity for the reproduction of capitalist competition for markets and profits, while others point to the increasing political strength of international working class organizations during a rapid increase in technological productivity and decline in necessary scarcity as a catalyst to develop a consumer culture based on therapeutic entertainments, home ownership and debt. The more positive, middle-class view argues that this revolution encompassed the growth in construction of vast country estates specifically designed to cater for comfort and the increased availability of luxury goods aimed at a growing market. This included sugar, tobacco, tea and coffee; these were increasingly grown on vast plantations in the Caribbean as demand steadily rose. In particular, sugar consumption in Britain[8] during the course of the 18th...
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...such as malls and shopping districts (Tyndall, 2009). This version of consumer-driven rules – culled from qualitative research and personal interviews – depicts a new notion of public-ness that is less egalitarian than ever before. It is a version of public space that is not entirely open to the public. Baker adds to this perspective by historicizing the commercialization of public space, dating the use widespread use of public space for advertising purposes to before the dawn of the 20th century (Baker, 2007). This argument inextricably links the notion of “culture” with “consumerism”, and sets the stage for the potential for access to public spaces to be consumed, or purchased. Finally, Klingle underscores this spatial history of consumption, placing the transaction of consumer power contexts as diverse as Thoreau’s Walden to the challenges environmentalists face in today’s high-powered, consumer-driven society (Klingle, 2003). Problem Statement However, a systematic and historical chronology of public spaces that conveys power relations borne out of consumerism has yet to be fully developed....
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...Week 10 Tute: Ethics of Consumption (Assessed) 1. Who is the ‘we’ in the question ‘Why do we consume so much?’ is Juliet Schor correct that ‘there is increasingly little that we do which is not a consumption experience’? And that we have become a culture of excessive consumption? Explain your answers. The ‘we’ in the text mean that most of the Americans who possess a basic normal life, stable income and the large middle classes whose standard of living has risen so dramatically over this century. The author is correct that there is gradually little that we do which is not a consumption experience. Material abundance has only intensified in recent years, with the booming economy of the 1990s and early 21st century. People nowadays had become a culture of excessive consumption. The amount of vehicles per person has increased, as has the size and luxuriousness of those vehicles. Americans use more on cosmetics product every year than the extra spending needed to bring worldwide access to basic education for all children in the developing world. 2. Explain why Schor believes that ‘more leisured, less consumerist lifestyles are structurally blocked’. Why can’t people simply choose to work less and enjoy more free time? Do you agree that working long hours encourages people to consume more? In the event that there is not an openly working business sector in hours and managers inhibits hours’ reductions, then there is no sense in which one can depict the amount of utilization...
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...and low mortgage and interest rates. It is also necessary to include that the housing boom was only made possible by their allied industries such as plumbing, cement and electricity as without these products being readily available the houses could not have been built. As the housing industry boomed it made other industries more successful in trade as the consumption of electricity doubled in the 1930’s and by 1938 there were 9 million wireless sets in private homes and the demand for luxuries such as radios and cars also grew. This benefited the other industries and the working class as more jobs were readily available for them to earn a living and provide for their families. It is clear to see that the housing boom could be seen as being responsible for Britain’s economic recovery in the 1930’s as it gave jobs to the working class which increased consumerism as more and more people had money to buy consumer goods which helped the cycle of prosperity to continue on and helped the economy recover. Another contributing factor to the economic recovery of Britain was consumer spending. A.J.P Taylor stated that “increased consumption by individuals pulled England out of the slump”, meaning that Britain came out of the Depression by spending money and stimulating their own economy – creating a ‘consumer-led’ recovery. The lowered prices – caused by the Depression itself – allowed those...
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...Consumerism Term 3, Lecture 1 Now, consumerism is more widespread than before. Before- What you produce determines who you are and how people look at you Now- Consumption= what is consumed, when it is consumed and how much, determines who you are and how people look at you 2. The roots of consumerism Began towards the end of the 18th century Sugar, tea, coffee- consumerist products With these consumerist products, came the associated pieces (cups, coffee cups, saucers, coffee shops) Consumerism= caused by increased prosperity. As people earn more, they consume more. Social, political and economic revolutions changed people- from this comes consumerism Consumerism becomes feminized- focuses on what goes on in the homes. Which is a woman’s job After consumerism (18th century), women are seen as more beautiful. Before, men were seen more beautiful. Thus women buy more to make themselves more beautiful. Men started to go shopping, as a fun activity. This was not the case before consumerism came along. 3. The growth on consumerism Uneven geographically- consumerism more in urban areas than rural areas a) changes in retailing(shops) changes in retailing boosts consumerism = department stores advertisement boosts consumerism = first in America Peasant societies don’t produce consumerism Changes in media boosts consumerism= radio Kleptomania= compulsion to steal...
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...Environmental Effects of Consumerism December 18, 2010 By admin Leave a Comment Over consumption of tangible, non-essential products is part of what defines the developed world, with America and Western Europe taking the top prize for consumerism. Unfortunately the rest of the world, including more and more developing countries, isn’t far behind. Consumerism is defined as the need to purchase goods and services that reflect or improve one’s status. Even though it creates jobs and keeps the economy moving, consumerism is taking a toll on the environment. Natural resources are being depleted and the ecosystems are being compromised by disposable plastic products, bottles, and shopping bags. Many items, which were once thought of as luxury items have become necessities. Products are made, quickly become obsolete and are replaced. Items that are disposable, are made to be used only once, or just for fun, flood our markets. The cost of producing products, the raw materials needed and the energy consumed, is not taken into account when cost is measured. Reliance on automobiles, even in countries such as China, where not long ago bicycles outnumbered cars, has made an enormous impact on the environment in the form of pollution and the dependence on fossil fuels. Another negative impact from consumerism is the over consumption of meat, processed food, and fast, ready-made food. Raising livestock to meet the demands of the consumer impacts the water supply, and produces the destructive...
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...FOREWORD I am Sarah Afifah binti Abd Hamid was requested by Puan Rohani Abdul Ghani to conduct a study issue that related to finance sector. I choose “Bank Islam offers superbike financing “as for my individual assignment and presentation. Generally, I have to study and find out why Bank Islam choose to offer superbike financing and what is the reasons due to that. This main finding was that the assumption of increasing profit in sales is increased in this market segment by Bank Islam. Image 1: Example picture of superbike financing by Al-Rajhi Bank 1.0 INTRODUCTION Bank Islam, established in 1983, is Malaysia’s maiden Shariah-based institution. Since its inception, it has emerged as the symbol of Islamic banking in Malaysia and its vision to be “A Global Leader in Islamic Banking” illustrates the Bank’s status as the flag bearer of the country’s financial services industry (“the industry”). Bank Islam has been growing from strength to strength as evidenced by its financial performance and paid-up capital, which, in turn, was instrumental in making the growth of its assets. Throughout the year, Bank Islam has been embarking on a number of expansion programmes with its involvement in, among others, notable transaction in Sukuk and Corporate Mandates. Living up to its pioneering spirit, the Bank has continued to provide innovative and enhanced products and services which have resulted in a growing number of customers seeing Islamic banking as a true alternative to conventional...
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...Assignment 02 Essay Plan: Introduction: * Outline what intend to explore in essay * Description of a consumer society. Part 1 * What is consumerism * Mass consumption origins – include quote from R Williams * Affluence * Supermarket contribution to consumerism Part 2 * Outline the impact of rubbish / wastage on environment – include statistics from reports shown in Making Social Lives text book. * Explain what unsustainability means and how does it refer to rubbish. * What is recycling and its role * Other ways to use rubbish i.e. charity shops, used as art Conclusion * Conclude whether society is a throwaway society. Explore the claim that a consumer society is always a ‘throw-away’ society. In this essay I will attempt to explore the claim stated above that a consumer society is always a ‘throw-away’ society and find examples to support this. Before beginning to explore the claim stated above, it is important to understand what is meant by a ‘consumer society’. Many social scientists state that we live in times of a consumer which means “a label use to refer to a society which is defined as much by how and what people purchase and use, as by what they make or do.” (Hetherington, 2009, p.13). Consumerism is a form of socialisation evolving from the Industrial Revolution and it has continued to evolve through the decades to the present day. With so many produces being so readily available it seems there are a number of...
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...ASSESSMENT 2: CASE STUDY ON INDUSTRIALISATION AND CONSUMPTION Introduction Modernity is a transition between how society lived years ago opposed to how society lives now. This case study will focus on the impact of industrialisation and consumption and how it has shaped the modern world of a close friend along with society today. The academic sources that were used contained useful information along with an interview I conducted, to help prove and analyse how the impact has changed and shaped the modern world. This case study will cover the way industrialisation has changed society. It will discuss the social, economical and technological changes along with the key changes and how society perceives what work is. In addition it will discuss how society has gone from producing to consuming, how we shopped years ago opposed to now and how this has changed our lives. Literature Review Industrialisation: Industrialisation has transformed the way societies have produced products required to meet societies needs. It has transformed many social institutions such as work, family, social bonds and education. In addition the biggest impact of industrialisation was the change from gathering and cultivating to manufacturing which has drastically improved productivity and wealth. The major social, economic and technological change was the Industrial Revolution between the 1760’s and 1850’s in Great Britain, spreading through Europe, United States, Japan and Australia...
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...Consumerism History of Consumerism Consumerism is a social and economic order that encourages the purchase of goods and services in an elevated amount. Consumerism as an ideology first appeared in Western Europe roughly three hundred years ago. It gave a rise in consumer’s need and importance to the display of material items. It promoted economic progress, a rise in small shops, an increase in the growth of cities, and an incline in individualism. A shift in the market hit right before the Industrial Revolution. Capitalist development and the industrial revolution focused on infrastructure and production and manipulation of fossil fuels. In 1919 consumerism began to sweep over the American population when General Motors Acceptance Corporation (GMAC) was established. The General Motors Acceptance Corporation mission was to issue loans to customers who had purchased a vehicle. Americans started the notion of “Keeping up with the joneses” which is the idea that Americans compare themselves to their neighbors, defining each stance in socio-cultural inferiority. With this new need for status with possessions was thought to be the beginning of the American consumer culture. Soon after The Great Depression and World War broke out. When the war-ceased consumers went wild, credit cards issued first for convince took off quickly to show status through the products each individual had. Consumerism gathered strength in the United States through internal trade growing, expansion...
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...STRATEGY in the SPECIAL ISSUE NEW WORLD The 10 Trends You Have to Watch | by Eric Beinhocker, Ian Davis, and Lenny Mendonca AFTER A FULL YEAR in heads-down crisis mode, to the evolving role of business in society. Here we discuss how the crisis may affect their trajectories, and we address the implications for strategy. Some trends, we argue, remain firmly on track, but uncertainties are cropping up around others. We also see signs of new forces emerging, which we will be exploring in more detail in the months ahead. The overall picture is of an altered business landscape. It does seem there will be no going back to the precrisis world. hbr.org Are these the right trends to watch? Share your thoughts with the authors at landscape.hbr.org. business executives are looking again to the future. As they reengage in strategic thinking, many are struck by a sense that the world has changed: The turmoil was not merely another turn of the business cycle but a restructuring of the economic order. Is that impression accurate? To answer this question, it is necessary to examine the underlying forces that shape the business environment and to look for discontinuities. McKinsey & Company tracks the most important of these forces, from the growth of emerging markets Lorenzo Petrantoni Eric Beinhocker is a senior fellow at the McKinsey Global Institute, McKinsey & Company’s economics research arm, where he leads research on economic, management, and public policy issues;...
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...growww.businessmonitor.com Q4 2010 AUStrALiA food & drink report INCLUDES 5-YEAR FORECASTS TO 2014 iSSn 1749-2580 published by Business Monitor international Ltd. AUSTRALIA FOOD & DRINK REPORT Q4 2010 INCLUDING 5-YEAR INDUSTRY FORECASTS BY BMI Part of BMI’s Industry Report & Forecasts Series Published by: Business Monitor International Copy deadline: July 2010 Business Monitor International Mermaid House, 2 Puddle Dock, London, EC4V 3DS, UK Tel: +44 (0) 20 7248 0468 Fax: +44 (0) 20 7248 0467 Email: subs@businessmonitor.com Web: http://www.businessmonitor.com © 2010 Business Monitor International. All rights reserved. All information contained in this publication is copyrighted in the name of Business Monitor International, and as such no part of this publication may be reproduced, repackaged, redistributed, resold in whole or in any part, or used in any form or by any means graphic, electronic or mechanical, including photocopying, recording, taping, or by information storage or retrieval, or by any other means, without the express written consent of the publisher. DISCLAIMER All information contained in this publication has been researched and compiled from sources believed to be accurate and reliable at the time of publishing. However, in view of the natural scope for human and/or mechanical error, either at source or during production, Business Monitor International accepts no liability whatsoever for any loss or damage resulting from errors...
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...Sciences Prague Faculty of Economics and Management Department of Economics Project of Econometric Modelling © 2013 CULS in Prague I. One equation model: The following econometric model would like to analyze the impacts of consumption, interest rate and unemployment rate on Gross Domestic Product of China based on the data extracted from National Bureau of Statistics of China.(1992-2011 National Data in 1992-2011 ). 1. Economic model and econometric model 2.1. Assumption * Gross Domestic Product (GDP) depends on the following variables: * Private Consumption * Government spending * Total wage of employees * General model: GDP = f (Private Consumption, Government spending, Total wage of employees) * Dependency between variables based on economic theory: * Increase of private consumption will cause increase in GDP. * Increase of Government spending will cause increase in GDP. * Increase of Total wage will cause increase in GDP. 2.2. Economic and econometrics model * Declaration of variables Variable | Symbol | Unit | Gross Domestic Product | y1 | 100 million yuan | Unit vector | x1 | | Private Consumption | x2 | 100 million yuan | Government spending | x3 | 100 million yuan | Total wage of employees | x4 | 100 million yuan | Stochastic variable | u1t | | * Economic model: y1 = γ1+ γ2 x2 + γ3 x3 + γ4 x4 . Insert stochastic variable-...
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...Valued Possessions vs. Insignificant Desires Anna Quindlen, a novelist, social critic, and journalist wrote an intriguing essay “Stuff is Not Salvation” about the addiction of Americans, who splurge on materialistic items that have no real meaning. The ability to obtain credit is one of the main reasons to blame for society’s consumption epidemic. However, Quindlen feels the economic decline due to credit card debt is insignificant compared to the underlying issues of American’s binging problems. Quindlen’s essay gives excellent points regarding the differences in America’s typical shopping habits. Additionally, she mentions how people acquire all this “stuff” but seem to never realize, “why did I get this?”(501). Quindlen makes her audience visualize a world where we acquire our needs versus our meaningless desires. Yet, she fails to mention people who could live a life of happiness through the possessions they acquire. In summary, Quindlen supports her point of view with examples of American spending habits in the past decades of depression compared to now. She mentions Black Friday and how people become enthralled by cheap bargains (Quindlen 500-501). In Quindlen’s essay, she refers to an accident in which a worker at Walmart was trampled to death by a mob of shoppers and despite the horrific incident people kept shopping (500). With the U.S. depression, Black Friday brings hopes of more money spent, therefore a rise in the markets. The dream of an uplifted economy became...
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