Sociology 2172A/B Lecture Notes - Lecture 5: Malcolm Gladwell, Consumer Capitalism, Consumerism

• School: Western University
• Department: Sociology
• Course: Sociology 2172A/B
• Professor: Gale Cassidy

Document Summary

Recessions and depressions occur because demand drops: eager consumers are the most important factor. O(cid:373)e ad(cid:448)ertisi(cid:374)g is (cid:373)arketed at the produ(cid:272)t"s pra(cid:272)ti(cid:272)al utility, (cid:271)ut (cid:373)ost is dire(cid:272)ted at people"s status concerns. Demand for consumer commodities must be created through: the fa(cid:272)t that the produ(cid:272)ts (cid:449)ill soo(cid:374) (cid:271)e(cid:272)o(cid:373)e outdated or (cid:449)o(cid:374)"t (cid:449)ork as (cid:449)ell as they used to, making products that are designed to wear out is another strategy. Example: older iphones wo(cid:374)"t ru(cid:374) (cid:449)ith the (cid:374)e(cid:449)er soft(cid:449)are; so you are forced to buy the new phone: or, by making your product a status symbol; ie canada goose jacket. Teens want status, so they try to obtain the symbols. Three markets that involve kids: kids spending money themselves, kids i(cid:374)flue(cid:374)(cid:272)i(cid:374)g their pare(cid:374)ts" spe(cid:374)di(cid:374)g, kids are the future market when they become adults. Concern that children are being manipulated via advertising. Bega(cid:374) i(cid:374) the 60"s after wwii, (cid:449)he(cid:374) pare(cid:374)t"s i(cid:374)(cid:272)o(cid:373)e (cid:449)as i(cid:374)(cid:272)reased, which meant that the teens were getting more money.