Status Acquisition and Theoretical Perspectives of Conspicuous Consumption

These flashcards cover key terms and concepts related to status acquisition, conspicuous consumption, and cultural capital as discussed in the lecture notes.

Status Resources

The resources that individuals draw upon to compete for social status, including social, economic, and cultural capital.

Economic Capital

The financial resources and assets an individual possesses.

Cultural Capital

Socially rare and distinctive tastes, skills, knowledge, and practices that confer status.

Social Capital

The networks and relationships an individual has, which can influence their status.

Conspicuous Consumption

Lavish spending on goods and services mainly to display wealth or income.

Invidious Consumption

Consumption that is intended to cause envy among others.

Emulation

The practice of consumers copying the consumption patterns of the upper classes.

Theory of the Leisure Class

A book by Thorstein Veblen discussing themes of consumption and status from 1899.

Pierre Bourdieu

A renowned French sociologist known for his work on cultural capital and social distinction.

Distinction

Bourdieu's concept that social life is a multidimensional status game influenced by resources like cultural capital.

Rarity and Depth

Key expressions of subject distinction that impact status through cultural representation.

Taste Demarcates Class

Bourdieu's assertion that one's tastes and preferences signal social class.

Examples of Cultural Capital

Instances illustrating cultural capital, such as being a coffee connoisseur or artist.

Transition of Status Acquisition

The shift from acquiring status primarily through economic to cultural capital over time, particularly noted in different age groups.

Exclusivity

The quality of being limited or restricted, which can enhance status through cultural capital.

High-price Brands

Brands that may not necessarily communicate special knowledge or cultural understanding.

Final Project Description

An academic task where students develop a marketing plan that aligns with consumer preferences.