Busn4100 Business Research Methods - Assessment Answers

Undertake a literature review on a theoretical concept/construct in the field of Conspicuous consumption that has real world management implications (e.g., customer satisfaction, buying behaviour, customer motivation, experience quality etc.). Research the field to find four academic articles (the first article to propose the theory) relating to the concept (published any time); and three other more recent articles (2012 onwards) one of which must apply a quantitative research design, the second, a qualitative design and the third, a mixed method (qualitative and quantitative) design.

Answer

List of reviewed articles

Common themes

In order to analyze the impact of conspicuous consumption, four articles have been reviewed in this study. In the first article namely ‘Conspicuous consumption, inequality and debt: the nature of consumption?driven profit?led regimes’, the theoretical concepts of the profit led demand and wage led demand have been discussed for highlighting the conspicuous consumption concerns. In order to discuss the conspicuous consumption process, the author has discussed about the Bhaduri–Marglin model. In order to understand the integration process of the Veblenian concept, the role of the Bhaduri–Marglin model is very important (Kapeller and Schütz 2015). It has been identified that the increasing profit share impacts on the income of the workers. In the second article, the rate of consumption has been considered as the major key drivers in the customer behavior. It has been mentioned in this article that conspicuous characteristics, materialism and impulse buying behavior are interconnected to each other and have influential role in case of driving the customers’ mind. The third article namely ‘Consumers' perceptions of luxury brands’ CSR initiatives: An investigation of the role of status and conspicuous consumption’ has discussed about situational impacts on the changing behavior of the customers. In this article it is mentioned that CSR initiatives of the organizations play an important role in case of driving the conspicuous consumption trends. The name of the fourth article is ‘From everyday communicative figurations to rigorous audience news repertoires: A mixed method approach to cross-media news consumption’. In this article, it has been discussed that the digital media plays an influential role in case of driving the rate of conspicuous consumption. By introducing the innovative mixed method approach, the author has tried to highlight the participation of digital media in conspicuous consumption process (Kobbernagel,  and Schrøder, 2016). After analyzing the above article it can be said that financial status and social activities are being considered as the major key drivers of conspicuous consumption.  

Different themes

In the selected four articles different influential key drivers of conspicuous consumption have been highlighted. Although the four articles have focused in the conspicuous consumption, but the influential processes have been discussed on different manner in different articles. In the first article, Bhaduri–Marglin model has been discussed. The model is beneficial for assume g the social status of working class. In the second article namely ‘Materialism, impulse buying and conspicuous consumption: A qualitative research’, the behavioral characteristics of the customers have been discussed. It is mentioned in this article that depending on the social status of the people, the changes of behavioral characteristics are being identified (Vohra 2016). However, in case of third article, it is discussed that in case of driving the customers’ preferences, the CSR initiatives are required (Amatulli et al. 2018). In case of analyzing the conspicuous consumption practices, the CSR initiatives of the organizations have been highlighted as the important key driver. The fourth article is totally different from the three articles. In this article the role of social media has been highlighted as the important influential factor for conspicuous consumption. It has been mentioned in this article that the cross media news consumption is also very important in case of understanding the conspicuous consumption process.

Study limitations

In the comparison of the four articles it has been identified that the first one discussed about the models and theories. In order to conduct the research, the researcher has used the concepts from the previous articles. In case of second article the entire research has been developed, depending on the qualitative data. In this case both the secondary and primary data has been collected. Previous journals as well as the interview method have been followed by the author. In this case the chances of getting dissimilar data from secondary and primary resources can influence the ultimate outcome of the research. In the third article the primary survey has been done. In case of this article, the information, which has been collected, can differ from actual data as depending on the mental state of the participants the information can change. In case of the fourth article, digital media has been highlighted as the only influential factor in conspicuous consumption process (Kobbernagel,  and Schrøder, 2016). However, there are many other factors which have also equally important for influencing the conspicuous consumption behavior.

Future directions

In the above article it has been identified that all the articles have mentioned conspicuous consumption as the important key driver in social status. It is also mentioned that after the introduction of industrial revolution, the middle class people have also being influenced by the conspicuous trends.  It cannot be denied that the conspicuous consumption mainly being focused by the large organizations which mainly manufacture the luxury products. Therefore, it can be said that the study will be beneficial for the organizations in order to understand the current trend of conspicuous consumption process. Analyzing different factors of conspicuous consumption, the organizations will also be able to develop strategies for grabbing the large numbers of customer attention.

References

Amatulli, C., De Angelis, M., Korschun, D. and Romani, S., 2018. Consumers' perceptions of luxury brands’ CSR initiatives: An investigation of the role of status and conspicuous consumption. Journal of Cleaner Production, 194, pp.277-287.

Correia, A., Kozak, M. and Reis, H., 2016. Conspicuous consumption of the elite: Social and self-congruity in tourism choices. Journal of Travel Research, 55(6), pp.738-750.

Kapeller, J. and Schütz, B., 2015. Conspicuous consumption, inequality and debt: the nature of consumption?driven profit?led regimes. Metroeconomica, 66(1), pp.51-70.

Kobbernagel, C. and Schrøder, K.C., 2016. From everyday communicative figurations to rigorous audience news repertoires: A mixed method approach to cross-media news

Vohra, A.V., 2016. Materialism, impulse buying and conspicuous consumption: A qualitative research. Global Business Review, 17(1), pp.51-67.