CRI 510 Lecture Notes - Lecture 1: Beck, Cultural Capital, Walter Benjamin
2 Nov 2016
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Document Summary
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Value from customer"s perspective: a bundle of benefits consumers seek to satisfy needs or wants relative to costs. Value from seller"s perspective: profit from a consumer. Lifetime value of a customer: total profit from a particular customer for a firm over their lifetime. Designer bag value: cultural capital (using actual capital to get it), status, basic function value, quality, personal (represents something important for you), aesthetic. Charity value: feel good about yourself, feeling that you"re helping something you care about, society can enjoy this value. Possessions as extended self: we are what we consume. Russell belk famously argued in the 80s that our very selfhood is inextricably linked with the things we consume (or don"t consume or want to consume but can"t)
