Professional Documents
Culture Documents
Stage Definition
Factors that influence our decision to buy: financial constraints, availability of items and services, and th influence of family and friends.
However, the most important factor is determining whether these items and services fall under
Wants. Synonymous with luxuries. People buy them for reasons that do not warrant necessity.
Needs. These are important for survival. Food, clothing, and shelter are basic needs so people purchase them out of necessity.
In the process of acquiring material goods, people generally consider 2 things:
Utility. Concerned with how things serve a practical purpose.
Significance. Concerned with the meaning assigned to the object. It is also concerned with how objects become powerful symbols or icons of habit
and ritual which can be quite separate from their primary function.
Materialism and Happiness. What is the value of materialism (Fournier & Richins, 1991)?
Pursuit of possessions and materialism’s role in consumption choices
reflects materialism as a value
The importance of acquisition to reach satisfaction
Impossible to achieve happiness
Possessions and Happiness.
We tend to devote time and money for things we want to buy. (Boven, 2005)
We give importance to buying more (Rinchins, 2003)
And in effect we experience “…joyless material possessions… resulting in comfort but not pleasure.” (Nicolao et al, 2009)
“Materialists believe that acquiring things will make them happier and they tend to act on this belief by buying more” (Watson, 2003)
The Problem with Consumerism:
1. It is intrusive
2. It is manipulative
3. It cannot provide many of the things that are important to us
4. It restricts our choices and lives
5. It affects our worldviews and characters
6. It is unsustainable
Many people these days (the most vulnerable is the younger generation) happiness is attached to buying something
Consumption has become an addiction many people have forgotten that there are things in life that can bring true happiness, such as spending time
with family and/or friends; to have “me” time; enjoy nature; to read etc.
What should we invest instead? We should invest on experiential purchases