Experiential buying and materialistic behavior in welfare of humans

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Experiential buying and materialistic behavior in
welfare of humans
Name : Sardar Suleman
Student ID: 102802253

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Declaration
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to the content and expectations of the assessment declaration."
Submitted as Materialism, experiential buying, and their effects on wellbeing
PSY10003 Psychology 100
Due Date: 15 July 2019
Date Submitted:
Tutor:
Email: [e-mail]
Word Count: 1534

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Introduction
Materialistic behaviour is the phenomenon where aspirations and craving are maximum to
procure affluence, assets and substantial properties which can promote improved stature,
comforts, grandeur and ignore morality and spirituality. Materialism drives profusely
important part of life of a human being and that of society are individual excellence,
contentment and avidity. People generally possess the opinion that greed and selfishness of a
human being are the driving force behind economic problems.
A consumer buying experience for gaining experiences can be called as experiential buying.
In popular opinion money and happiness are intertwined. People refers to enormous financial
stability when asked about happiness and contentment and many people are agreeing to the
fact that more money would have made them happier. Statistically, the relation between
money and happiness is quite little and thus less important (Myers & Diener, 1995).
The reason is/are different leading to the reasons of people being materialistic and
participating in experiential buying.
Many psychologists as well as consumer researchers learning materialism thinks of the
construct in different ways. Belk (1985) first proposed the construct in an empirical manner
as a character allocation concerning possessiveness, parsimony, and enviousness. However,
almost every factual work is based on Richins and Dawson (1992), Kasser and Ryan (1993,
1996) by formulating materialism in the form of values, objectives, and/or endeavour. So, to
state that he or she is a materialistic person is to declare that the person believes that it is
important to have money and that states the lavish and attractive status and these are the main
objectives for a person to thrive.
Aspects of Material and Experiential purchases:
Though the relevance of purchase type may invite questions, there are some exceptions that
are important for comprehending materialistic and experiential buying. According to Carter
and Gilovich (2010), a factor gains much importance concerning one’s happiness index that
is the effect of purchase-type. Generally, individuals can be concerned about various choices.
This influences the human behavioural pattern ultimately. Practically, experiential purchase
will have less similarity to other options, although everything is somehow similar. As an
example, it can be tough when holiday is compared with contrasting locations of travelling. It
can be finally noticed when one will be deprived of further joy or self-satisfaction. Inspite of