Asked by Misael Aneuris on Apr 25, 2024
Verified
Briefly explain Veblen's terms of invidious distinction and conspicuous consumption.
Invidious Distinction
A differentiation that is made in an unfair or prejudicial way, often causing feelings of envy or resentment.
Conspicuous Consumption
The purchasing of products or services for the purpose of displaying wealth and status rather than for their functional value.
- Comprehend Veblen's theories of invidious distinction and conspicuous consumption and their relevance in contemporary marketing.
Verified Answer
TG
Thomas Gascoigne7 days ago
Final Answer :
Veblen felt that a major role of products was invidious distinction-to inspire envy in others through the display of wealth or power.
Veblen coined the term "conspicuous consumption" to refer to people's desire to provide prominent, visible evidence of their ability to afford luxury goods.
Veblen coined the term "conspicuous consumption" to refer to people's desire to provide prominent, visible evidence of their ability to afford luxury goods.
Learning Objectives
- Comprehend Veblen's theories of invidious distinction and conspicuous consumption and their relevance in contemporary marketing.
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