Monday, September 23, 2019

Consumer Behaviour (Conduct a literature review on the topic of Essay

Consumer Behaviour (Conduct a literature review on the topic of consumption meaning) - Essay Example Needs can only be identified and prioritized if we apprehend how consumers give meanings to those needs. This document analyzes the meaning that consumers give to consumption by examining various academic literatures. Consumers have a personal domain of knowledge which is nurtured and affected by their native habitat, social environment and culture. Their buying behavior is based on the intuitive knowledge that they possess in their personal repository. This knowledge gives them meaning and value. They ascribe these meanings to marketed products, services, images, ideas and experiences and behave on the basis of these meanings (Arnould, Price & Zinkhan 2004). Meaning can be defined as the extent to which a consumer holds something highly regarded and places a high value on it (Hirschman 1991). To have a better understanding of the term consumption meaning let us turn to semiotics, a branch of cultural anthropology focused on study of signs. A sign is anything that stands for something else (Arnould, Price & Zinkhan 2004). The sign can be communicated through a corporate logo or a brand symbol. â€Å"A brand is a sign for the field of meanings consumers integrate into their personal space to enhance, complement or transform themselves and their world† (Oswald 2003). For instance, a logo of â€Å"Nike† or the brand â€Å"Sony† represents as a sign to the consumers. Consumers perceive these products based on their own experience and are brands or products are given different meanings by different consumers. Semiotics is a three part system and it’s also called as semiotic triangle. It involves a sign, object and an interpretant. For example, Toyota a renowned automobile company would be the object, its logo or brand name would be the sign and â₠¬Å"reliable†, â€Å"comfortable† and â€Å"long lasting† will be the interpretation regarding the brand â€Å"Toyota† made by different consumers. Each semiotic triangle exists within a particular cultural context

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