Exam 6: Personality,lifestyles,and the Self-Concept

THE BILLIONAIRE LIFESTYLE SCENARIO Philip, Joe and Ralph are all part of a billionaire's club in their city. They are all in their mid-40s, but with remarkably successful careers, they became billionaires within a very short period of time. Philip, the CEO of his own real-estate venture, started out as a dynamic entrepreneur who managed to make huge profits within two years of starting his business venture. He believes in living life luxuriously and lavishly. Joe, the CEO of an event management company, shares the same thought. Joe and Philip splurge on the latest cars and electronic gadgets in the market. They buy designer clothes, shoes and watches. They party at the best clubs in the city and are known to order customized suits for themselves from some of the best designers around the world. They also have a passion for traveling. They take time off from their work and visit exotic locations around the world, stay in the best hotels, and eat at expensive restaurants. But not all billionaires are like Philip and Joe; Ralph, the CEO of a chain of luxury hotels, used to be materialistic like the others. These days, he is no longer interested in living a lavish life and is rather keen on reducing his material consumption. He prefers living a simple life with his family, and rarely indulges himself like he used to do earlier. He feels that being too materialistic can not only lead to financial distress in the future, but also create problems in his personal life. Instead of partying like the others, he is often seen at charity events making donations. He wants to be known primarily for his contributions to the society and not for having an extravagant lifestyle. -Refer to The Billionaire Lifestyle Scenario.Ralph's desire to be known as a philanthropist reflects his _____.

"Baby Boomers" are those consumers who were born between 1981 and 1995.

The psychoanalytic approach to personality was proposed by B.F.Skinner.

Explain why lifestyles are important to the study of consumer behavior and describe how consumer lifestyles are measured.

_____ is the totality of thoughts,emotions,intentions,tendencies,and behaviors that a person exhibits consistently as he or she adapts to his or her environment.

_____ refers to the totality of thoughts and feelings that an individual has about him- or herself.

THE DESIGNER CLOTHES SCENARIO Fashion weeks in New York, Paris, and Milan featuring haughty supermodels strutting up and down the ramp generate a lot of attention for designers, especially if the collection is unique or unorthodox. But who buys these clothes? Apparently, only a small group of customers, as the celebrities seen so often flaunting designer clothing get these outfits for free in return for the publicity they generate for designers. This small group of customers comprise of women like Anna, Cindy, and Christine. Anna purchased a Balmain mini dress worth $24,000 and several other outfits because, as she stated, "I buy what I love." On the other hand, Cindy, an art enthusiast, purchased an Alexander McQueen jacket priced over $11,000. To her an apparel, besides being a work of art, also helps her form perceptions about herself. Christine, who attends high society events almost every night, wears any dress only once and in case she is attending more than one social event, changes several times in the course of a single evening. For these women, their clothing is an expression of themselves and how they want people to see them. -Refer to The Designer Clothes Scenario.Christine wears a different designer outfit in each social event that she attends.For her,such occasions are not only an opportunity to flaunt her endless collection of designer wears,but also to display her social class in the process.This is an example of _____.

Danielle is a very careful shopper,and is keen on maximizing the value of every transaction she makes.She uses coupons whenever possible,and purchases items on sale to save money.However,she is likely to pay more for a product if she thinks that it is the best one to meet her or her family's needs.Which consumer behavior trait does Danielle display?

In which of the following approaches are behaviors and tendencies assessed over time?

Which of the following is a characteristic of consumers with low need for cognition?

According to the psychoanalytic approach,the id differs from the ego in that the id focuses on utilitarian value.

Consumer lifestyles are measured using _____.

Deanne is married to a very wealthy attorney and she wants everyone to know that.She drives an expensive car,wears designer clothing,and diamond jewelry.In doing so,which of the following traits does Deanne exhibit?

With the _____ approach,the focus of the researcher is on one particular trait.

Personality helps explain why a particular behavior provides great value to one consumer but none to another.

According to the five-factor model (FFM)approach,which of the following most aptly describes a conscientious consumer?

According to _____,consumers agree on the shared meaning of products and symbols.