The Role Of Self Esteem And Consumer Behavior

1025 WordsFeb 28, 20165 Pages
The aim of this essay is to explain the role of self-esteem in consumer behaviour. In order to understand this concept, I will firstly explain the basic definitions related to self-esteem. Secondly, I will identify the importance of self-esteem when segmenting and positioning within a market; through two marketing appeals. One focusing on high self-esteem and the other explaining low self-esteem. Lastly, I will evaluate the managerial and consumer implications from the examples selected. As a result, this essay might advocate distinct approaches to reach consumers with high and low self-esteem, more effectively. Throughout the years, marketers have utilised the external environment as a resource for addressing consumer’s desires. However, marketers have less control upon external changes. As a result, vendors have managed to understand the consumer’s black box, that is, the characteristics and the decision process consumers have when buying products or services (Armstrong and Kotler, 2014). In this way, marketers can deliver and fulfil the needs and desires of their segmented consumers. For example, when buying a car certain personal characteristics, such as being innovative or luxurious affect individuals’ decision process (Deloitte, 2014). Moreover, the personal characteristics entail the self-concept. Similarly, the self-concept which reflects what you know about yourself; encompasses the self-esteem (Armstrong and Kotler, 2014; Solomon et al. 2015; Leonard, et al.
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