As part of my series on consumption and consumer behavior, here is a classification of our consumptions.
- Utilitarian – Consumption that is all about serving a purpose
- Hedonistic – Consumption that has a pleasure component.
- Conspicuous – Consumption we do so others can see it, keeping up with Joneses
I make the following claims with the picture below:
- Some hedonistic consumption have utilitarian component to them
- Conspicuous consumption fall on the far hedonistic end of the spectrum
- All conspicuous consumptions are hedonistic with no utilitarian component
Now that we have this classification, next we will look at how we value the products we buy and how this has changed with the economy.