Term
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Definition
- Industry is at $2 trillion
- didn't get hit had during the recession
- 4 segments |
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Term
| 4 Segments of Luxury Consumption |
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Definition
1) conspicuous consumers
- prestige and status
2) information seekers
- quality and trends
3) sensation seekers
- value aesthetics
4) utilitarian consumers
- comfort and functionality |
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Term
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Definition
- Perception and feelings toward self
- Actual vs. ideal self-concept
- Private vs. social self (how I want others to see me)
- Independent self-concept (individual)
- Interdependent self-concept (social) |
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Term
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Definition
- Extended self (possessions are part of identity)
- Peak experience
* product (flag on veteran's grave)
* non-product (sports team)
- Mere ownership effect (owners of different brands have a higher evaluation of those brands than non-owners)
- Brand engagement |
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Term
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Definition
- more important for value expressive than utilitarian products
- more important for public than private consumption
- people who rely on opinions and feelings of others |
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Term
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Definition
- Temporary fans
- Local fans
* self concept is not tied to team for these first two
- Devoted and fanatical fans
- Dysfunctional fans |
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