Conspicuous consumption refers to buying expensive goods and displaying wealth to gain social status, rather than buying based on needs. Thorstein Veblen coined the term in 1899 to describe spending by the upper class to show their leisure. While initially associated with the rich, conspicuous consumption now occurs across classes and economies. Marketers target conspicuous consumers by designing exclusive products sold in distinctive stores at premium prices and promoted through messaging that emphasizes separating the buyer from others.

1. CONSPICUOUS CONSUMPTION
Presented by -
Chittaranjan Behra - 12DM001
Subhradip Mishra – 12DM002
Buddhaditya Saha – 12DM003
Pritam Das – 12DM006

2. Conspicuous Consumption
 Buying expensive items to
display wealth and income rather
than to cover the real needs of the
consumer.
 Gain higher social status.
 Coined by Thorstein Veblen in
his book "The Theory of the
Leisure Class" published in 1899.
 Behavior not only limited to the
rich/upper class but among the
poorer social classes and emerging
economies.

3. Characteristics of Conspicuous Customer
 Clear positioning.
 Time relation is the present.
 Able to take risks.
 Try new products.
 Love symbols of status.
 Wants status appreciation.

4. Buying Characteristics
 Do not prefer details.
 Importance of the Prestige aspect.
 Need to be realistic.
 Decide now and want to own it in the same second.
 Buy by outward appearance and price rather.

5. NLP and Conspicuous Consumption
 Neuro-Linguistic Programming Model.
Under this consumers are divided in 3 categories depending on their
behavior-
 Green
Red
Blue
Level Green component Red component Blue component
Function Tendency to self-
preservation
Tendency to self-
assertion
Tendency to self
determination
Time reference History Today Future
Social relationship Need for contact Need for contact and
dominance
Need for distance
Right Territory (space
shareholders)
Status (recognition) Knowledge (own
ability)

6. 4 P’s for and Conspicuous Consumption
Place:
 Products not to be in common shop.
 Customer wants to have a special feeling walking in this store.
 Wants to see the newest products in the display window.

7. Product:
 Product policy- to be better then the equal.
 Focus on the exterior design aspect, innovative, eye catching.
 Packaging should be carried out thinking about the type of customers.
4 P’s for and Conspicuous Consumption

8. Price:
 Necessary to put a huge effort into the retail pricing strategy, if this will be
misevaluated the whole product can flop.
Price may be the price is 3 times or maybe 50 times higher than those of the
competitors but should be analyzed.
 These customer wants to pay a high price and he wants to display wealth.
4 P’s for and Conspicuous Consumption

9. Promotion:
 The communication should focus on exclusiveness, betterness and
conspicuousness.
 Should communicate that it separates the buyer from the crowd.
 Customer communication at the point of sales.
4 P’s for and Conspicuous Consumption

10. Conclusion
 These customer display to others that there are well off, to feel better
them-self.
 Fulfill these even at credits.

11. References
 http://www.it-infothek.de/fhtw/semester_4/bwl_4_02.html
 Hagen Ziemer, Oxford Brooks University, “Conspicuous Consumption, its
Implications and Marketing Implementation.”
 http://www.conspicuousconsumption.org/