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.Philip's belief in living life the luxurious way indicates that he follows the _____ principle.

_____ are observable,statistical aspects of populations including such factors as age,gender,or income.

Which of the following statements is true regarding personality?

A team of researchers in a marketing research company is interested in examining a combination of consumer traits and the total effect of those traits on individual buying behavior.According to these researchers,the prediction of individual behavior tends to be stronger with the _____ approach.

The idiographic approach in trait research focuses on individual traits.

Consumer lifestyles are the same across cultures.

Self-awareness refers to the positivity of an individual's self-concept.

The personology approach combines personality theory and motivation.

John gives away his old furniture to the poor and the needy whenever he buys new ones.Hence,it can be safely concluded that John is a highly materialistic consumer.

Failing to consider psychographic measures leads to the flawed assumption that all consumers of a certain demographic have different tastes.

Claudia reads publications such as The Wall Street Journal and other reputed dailies,and perceives herself to be knowledgeable about current affairs.Which of the following self-concepts is best reflected in Claudia's perception of herself as a knowledgeable person?

Which of the following is true about consumer lifestyles?

Describe the role of self-concept in consumer behavior and describe the various types of self-concepts.

Which of the following is a dimension of materialism?

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.Anna,Cindy,and Christine can afford to spend on high-end luxury brands.For them,these brands are means of self-expression,and testimonials to their sophistication and achievement.The way they are perceived in society really matters to them.According to the VALS 2 approach,Anna,Cindy,and Christine would most likely be classified as _____.

Geodemographic techniques combine data on consumer expenditures and socioeconomic variables with geographic information.

Which of the following best describes semiotics?

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

Descriptions of how individual consumers differ according to specific trait or patterns of behavior are called _____.

Describe the psychoanalytic approach to personality and the way it has been applied in consumer research.Has this approach been useful for understanding consumer behavior? Explain.