Conspicuous Consumption: Analysis of Consumer Behavior and External Influences

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Conspicous Consumption
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Introduction
Conspicuous consumption is the spending of money on luxury services and goods and
then acquiring them in a show of display of economic power. This is out of the income or from
the accumulated wealth of a particular buyer. This is a means of getting a particular social status
for the buyer in question or a display of discretionary economic power. In the development of
Thorsteins Veblens sociology, there are various terms that were derived from conspicuous
consumption such as invidious consumption which is the ostentatious consumption meant to
provoke envy of the people looking. There is also the term conspicuous compassion which is the
deliberate use of donation money given to charitable organizations in order to display a superior
socio-economic status (Bellezza, et al., 2016). There are various ways in which conspicuous
consumption affect the consumer’s behavior, customer satisfaction, motivation and customer
experience.
Conspicous consumption analysis
In order to determine the attitude of consumers of goods, services to the store a study was
conducted of customers who repeatedly, that is, 3 or more times used the services, products of
this economy. The survey involved 300 people at the same time; consumers of products of the
store of the female are 7% more than the male. The largest part of the sample (63%) is the
interviewed customers of the store at the age of 28 to 45 years. The results of the marketing
research on the criterion of belonging to the client of the store for this or that social status
allowed to formulate the conclusion that products and services among customers of the store are
made (Dev, et al, 2018):

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The results of the marketing research on this issue made it possible to conclude that the
most important factors in the selection of the store are the quality policy, which is spoken by
83% of the customers of the store, as well as the polite customer service (81% of respondents).
The study of consumers is primarily aimed at understanding their needs to ensure their
fullest satisfaction. To do this, it is necessary to identify and analyze deeply the already existing
needs, to study the patterns of their development and the formation of new needs.
The purpose of writing the course work is to study and analyze the behavior of consumers in the
market of goods and services. It should be noted that consumer behavior is a field of knowledge
that goes beyond the strictly marketing sphere of activity. It is relevant for anyone who strives to
firmly and successfully integrate into the market and succeed in it, using a wide range of
professional methods for managing consumer behavior.
Consumer behavior is an activity directly involved in acquiring, consuming and disposing
of products, services, ideas, including decision processes that precede and follow these activities
(Hinz and Hann, 2015).When analyzing the behavior of consumers in the market of goods and
services, it is also necessary to take into account the decision-making process of buying, post-
purchase analysis and the formation of the buyers' loyalty to the brand of the product firm
(Kapeller, and Schütz, 2015). The purpose of the practical part of the course work is to study a
personal household, comparing the monthly budget with the total costs.
Factors of external influence on consumer behavior