Read the summary and the most important questions on Consumer Psychology

• Lecture1 .1

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• What is the most important psychological function of material possessions?

  1 Creating identity
  2 Coming closer to your ideal self
  3 Possessions are self-extensions

• Explain the mere ownership effect:

  1 Owning a product makes it more attractive for us;
  getting a positive self-image because you want to enhance yourself by enhancing the products you own

• What is the effect of getting negative feedback on a task you failed?

  The mere-ownership effect becomes stronger

• What is the effect of residential burglary and why?

  Strongest negative impact, losing self-esteem, because your home is who you are

• What is the universal motivation of humans with regard to possessions? How works this for children?

  1 To control objects
  2 Children gets attached to objects they may touch and they might see it as belonging to them

• What happens when people are confronted with their mortality?

  They focus more on material possessions

• What is the link between possessions and values?

  There is a link between possessions (instrumental and symbolic) and values

• What is the Symbolic Self-completion Theory? + VB study

  People use material possessions to compensate for inadequacies (tekortkoming, gebrek) in their self-concept
  
  VB: one stud shows that business students who lack qualifications showed more relevant material symbols than students with good qualifications --> law students lacking experience showed also more material symbols than practicing attorneys

• What are the trickle-down and  trickle-up effects?

  1 Trickle-down: low status groups imitate symbols of groups who are more affluent 
  2 Trickle-up: high status groups creates new symbols to differentiate themselves --> more subtle symbols

• Video study inc The Social Identity Theory

  2 Videos of a working-class and a affluent middle-class
  2 Groups of participants --> working class and affluent middle-class
  
  People identify themselves with the person in the video who is similar to them, and create a better first impression of them
  
  But according the wealth stereotypes the participants should both like the affluent middle-class person more, because they have more expensive possessions. But they are also seen as less warm and expressive