View Full Version : The mindset of the rich and poor
catherine
6-29-13, 10:19am
What goes around comes around.. our parent site, New Road Map Foundation, posted this really interesting video on FB today about the behavior of people who believe themselves to be richer vs. poorer. Thought I'd post it here.
Money on the Mind (http://www.youtube.com/watch?v=IuqGrz-Y_Lc&feature=share&list=PLJ-B92PThxsl9cnR8OdNlJFQZGTwCzXyV)
I listened to the Effective Communication course from The Great Courses and the professor advised that the vast majority of one's choices, conversation and views of life is determined by the cognitive unconscious and the conscious had a very limited role in comparison.
Further, the cognitive unconscious is affected by culture, self-perception and so on.
What I might question, however, is the role of mental focus on one's activities. If I focus, whether asked or guided to do so, I will focus on my best interest. I admit it. They would be governed by my personal principles and values and self-interest is one of the them. No one is going to take care of me be it finances, well-being or activities and I do not expect anyone to do so. If one of my principles is to be thoughtful, I will be, empathy, I will be.
We have seen that the same self-interest in Wall Street investment analysts, some of our Canadian politicians. What they seem to be lacking is an underlying governing principle that will guide their decision-making that considers the impact on others (opportunity cost) vs their entitlement perspective.
I wonder how that can be developped?
That's priceless. Born on third base syndrome. The idea that kindness and generosity are for suckers, and that they got where they are purely by hard work--even if they had a trust fund...Self-delusion at its finest.
treehugger
6-29-13, 2:29pm
Thanks for posting that. Not only was it fascinating, but it fits in perfect with the class module of the Sociology class I am taking it right now. I posted it to that discussion (it's an online class).
Kara
And yet, in my extensive involvement in philanthropic efforts, the majority of the actual wealthy people I have run across have been involved and caring members of their community.
It is sometimes easy to confuse a sample with the population, and draw over-reaching conclusions about *individual* behavior.
And yet, in my extensive involvement in philanthropic efforts, the majority of the actual wealthy people I have run across have been involved and caring members of their community.
It is sometimes easy to confuse a sample with the population, and draw over-reaching conclusions about *individual* behavior.
True, that's why if I were doing market research, I wouldn't base my findings that were skewed heavily among the philanthropic community. I agree that that would be a biased sample.
True, that's why if I were doing market research, I wouldn't base my findings that were skewed heavily among the philanthropic community. I agree that that would be a biased sample.
I was overly brief. The wealthy people I run across are typically *victims* of my fund-raising efforts, not necessarily members of "the philanthropic community". They often *become* members, once we've put the bite on them :-)
I was overly brief. The wealthy people I run across are typically *victims* of my fund-raising efforts, not necessarily members of "the philanthropic community". They often *become* members, once we've put the bite on them :-)
First of all, in what I'm about to say, I'm not pointing the finger at you, bae, nor your wealthy friends/colleagues. I think we can all be grateful for the gifts of those who are in a position to provide them. If it weren't for all the wealthy people where would the jobs for grant-writers go?
But I still believe that what comes with a position of privilege is an attitude shift. How would your colleagues' attitudes change if their wealth was threatened? If there were an imminent stock market collapse, would that affect their generosity? What causes do they think are "worthy" causes? Are they more likely to give to the American Cancer Society vs. the local alcoholic detox facility?
In watching the video, think about a few of your wealthy acquaintances and ask yourself if they are more or less likely to blow through a pedestrian right-of-way? (My DDs BFs dad drives a BMW and he believes in the BMW attitude.) Are they more likely to be assertive in their demands, like the person in the video who was winning Monopoly? To what extent, if at all, do you think that either overtly or subconsciously they are giving because of social pressure or for recognition in some annual report?
I'm just asking questions. Just because people want to give doesn't mean that they don't harbor feelings that they are more deserving and others are less deserving, and those attitudes have broad implications.
Well, the wealthiest guy I know here drives a beat-up old pickup truck most of the time...
I do think certain people *tend* to buy certain types of cars, sure. But not *all* buyers of those sorts of cars are "certain people", judging an individual based on the fact that she drives a BMW is an error.
There is a great danger in going from the stereotype into full-blown prejudice against individuals....
In watching the video, think about a few of your wealthy acquaintances and ask yourself if they are more or less likely to blow through a pedestrian right-of-way? (My DDs BFs dad drives a BMW and he believes in the BMW attitude.)
I drove a BMW for years and now drive a Ford. I wonder if people think better of me now?
There is a great danger in going from the stereotype into full-blown prejudice against individuals....
I agree...
Some of my best friends are wealthy. :)
As for myself, I've been completely "in the crapper" (as my DH says) and of late I've made a really good salary, and I can say unequivocally that the 1985 me is different qualitatively than the 2013 me based on where I have been financially and how I've felt about myself as a result.
I drove a BMW for years and now drive a Ford. I wonder if people think better of me now?
Perhaps I should trade in my Hummer H1 for a Prius? Probably get more votes in the next election.
Of course, then I wouldn't have a place for all my wildfire and structural fire and EMT and technical rescue and communications gear when responding to calls. And I'd have to park on the road, in the way of other responders.
Still, if it makes people happy....
https://lh4.googleusercontent.com/-g3ARrAnQffA/UVo-es9DYyI/AAAAAAAAHi8/XI1XpfuAhJs/s640/Awesomized.jpg
I work with wealthy donors in my job. The vast majority I know are kind-hearted and empathetic by nature. The ones I know live by the motto "to whom much is given...". On the car thing...I do notice though that people in expensive cars seem to have the most "entitled" drivering habits.
On the car thing...I do notice though that people in expensive cars seem to have the most "entitled" drivering habits.
I'd be curious to see if there is difference in driving habits between those who bought their expensive cars with cash, and those who financed the car...
That is, are the drivers "wealthy" or "wannabe wealthy"....
Perhaps I should trade in my Hummer H1 for a Prius? Probably get more votes in the next election.
Of course, then I wouldn't have a place for all my wildfire and structural fire and EMT and technical rescue and communications gear when responding to calls. And I'd have to park on the road, in the way of other responders.
Still, if it makes people happy....
https://lh4.googleusercontent.com/-g3ARrAnQffA/UVo-es9DYyI/AAAAAAAAHi8/XI1XpfuAhJs/s640/Awesomized.jpg
You mean like my Prius? Note the "Go RU" decal in the back window. I got that for donating to the Parents' Fund. :)
Maybe my feelings are survivor guilt from my poverty days. Who knows? Especially since most would still consider me poor, given my negligible net worth. But now I have confidence and faith in myself.
http://i885.photobucket.com/albums/ac56/cmboyd/IMG_1554_zps4c4e5be0.jpg (http://s885.photobucket.com/user/cmboyd/media/IMG_1554_zps4c4e5be0.jpg.html)
I'd be curious to see if there is difference in driving habits between those who bought their expensive cars with cash, and those who financed the car...
How about the ones who are leasing? :~)
How about the ones who are leasing? :~)
They'd require more work to analyze - I suspect there are people leasing for Clever Reasons, and people leasing Because They Are Clueless and Victimized, and teasing that apart is best left to bored grad students :-)
I drove a BMW for years and now drive a Ford. I wonder if people think better of me now?
Maybe some do, some don't. But you may think differently of yourself when you're behind the wheel.
But you may think differently of yourself when you're behind the wheel.
I just had to go through extensive training in driving my personal vehicle, ambulances, fire engines, water tankers, and other such things.
Probably half the curriculum was geared towards reducing tunnel vision and excitement in you, the driver, when responding to a call under the stress of pagers, the radio, the mounting anticipation of the event, sirens, lights, ... A huge number of casualties in the fire/ems service results simply from driving to the scene.
Turns out perfectly-normal people turn into completely insane drivers under some sorts of mental stimulation.
Myself, I find the smell of fine Corinthian leather and the gentle purr of a precision high-powered engine quite soothing, and tend to smile and drive sedately, unless I'm on a track.
Maybe some do, some don't. But you may think differently of yourself when you're behind the wheel.
I think I feel the same about myself but can't say the same about the quality of one car over another as I believe the fit and finish of German luxury cars to be superior to their American brethren. Maybe that's the BMW attitude?
Well, in marketing we talk about functional attributes, rational benefits, emotional benefits, and higher order end benefits, and it's hard for most of us to even self-identify the higher order end benefits that compel us to buy without a lot of discussion and probing. So German technology and Corinthian leather are in the "functional attributes" lower rung of the decision process.
Can you tell me what your emotional higher order end benefit to driving your cars is? Rhetorical question--I don't expect you to know. And I sure don't claim to know. I'm just saying that just as razz said earlier, there's a whole lot going on in your subconscious (or my subconscious or anyone's subconscious) that drives (excuse the pun) what we buy.
And those subconscious elements influence our behavior, to bring this full circle to why the luxury car people are more likely than other drivers to blow through the pedestrian walkway.
Can you tell me what your emotional higher order end benefit to driving your cars is?
I'm a boring engineer, so I tend to buy vehicles that hit a particular price/performance/safety/reliability point I'm happy with. Then I drive them until they perish. I could afford to buy any vehicles I want, but often the higher-priced "luxury" models don't meet my requirements.
My favorite daily car now is in fact my cheapest vehicle (though BMW not-so-secretly makes it), because it is sufficient for 90% of my applications, reasonably fun to drive, gets reasonable mileage, and makes me smile. The smile is because I've always had a fondness for British cars and their "engineering", and after laboriously keeping them running for decades, it's an absolute pleasure to have a loony British car that was designed and built by Germans :-)
I do promise you though, I'll never blow through a pedestrian walkway in my fastest Porsche, which is not an about-town cruiser:
https://lh6.googleusercontent.com/-PpNBgIAthxg/Tn7FmnX9juI/AAAAAAAAD3s/PDT12wwcas0/s640/997cup.jpg
My brain is deteriorating rapidly these days, and I want to take part in conversations like this, but I'm not sure I can.
But......after watching the video, I wonder if the wealthy people are wealthy because of certain attributes they've had their entire lives, and not because they became wealthy and then got the attributes. Perhaps the wealthy people were always more driven? more self centered? more focused? I just don't know.
I suppose this might not be true, from some of the other experiments this guy did, which showed that if you made a wealthy person (at least at some tasks), poorer......they developed a more kind/general attitude.
I guess he's trying to say that the act of becoming wealthy, changes your brain, as does the act of becoming poor.
You know......as far as wealth goes, I used to be impressed by it, but no more. In fact, a lot of wealthy people I see are over-consuming idiots. I get embarrassed for some people who actually act like they're more important, just because of their money, or their cars, or their houses. They just look silly to me.
Just for fun, I would like to see if there are more Republicans or Democrats who are wealthy. And for that matter.........if blood types matter.........just for fun.
And as far as rich people giving alot to charity........isn't that deductible? Does that ultimately give them more in the end (of the tax year)?
Bae........don't you think you might be a rich person?
But......after watching the video, I wonder if the wealthy people are wealthy because of certain attributes they've had their entire lives, and not because they became wealthy and then got the attributes. Perhaps the wealthy people were always more driven? more self centered? more focused?
I wondered the same thing watching, if he had chicken/egg reversed. I've also seen studies of changes in testosterone and other hormone production in response to social roles and situations that were quite interesting.
And as far as rich people giving alot to charity........isn't that deductible? Does that ultimately give them more in the end (of the tax year)?
It's mostly inconsequential with today's tax code really, for a 1%-er deriving most of their income from capital gains, dividends, and tax-free bonds. In decades past, I suspect it was A Big Deal.
Bae........don't you think you might be a rich person?
In the sense that I am completely in charge of how I choose to spend my time, I am sufficiently "rich" for my needs.
I have plenty of friends who are just as "rich" who have nearly no income or "stuff", but it works for them.
I measure wealth by what you can do, not by what you have.
My favorite daily car now is in fact my cheapest vehicle (though BMW not-so-secretly makes it), because it is sufficient for 90% of my applications, reasonably fun to drive, gets reasonable mileage, and makes me smile.
I've been considering a Mini Cooper for my next car, for much the same reason.
bae....what's that cannister in your car? Helium? Nitrous Oxide? :~)
Alan......wouldn't you be afraid of getting squished in your mini cooper?
I'd love to have one of those tiny cars (Le Car??) but only if I never had to drive very far, and never on an interstate. Then again, I'm sure my knees wouldn't enjoy trying to get up and out of it. haha
Alan......wouldn't you be afraid of getting squished in your mini cooper?
No, I'm a defensive, and courteous driver, apparently against stereotype.
No, I'm a defensive, and courteous driver, apparently against stereotype.
I drive a red economy Toyota Yaris hatchback, and can be rather a jerk on the roads some days... :)
Stereotyping attitudes by what one drives seems kinda' meaningless to me.
ToomuchStuff
6-29-13, 5:37pm
I'd be curious to see if there is difference in driving habits between those who bought their expensive cars with cash, and those who financed the car...
That is, are the drivers "wealthy" or "wannabe wealthy"....
We would have to see the survey, to see if they actually stopped and questioned these folks, as well as other biases built into the questions. Me thinks it is skewed from the start, let alone missing factors.
But......after watching the video, I wonder if the wealthy people are wealthy because of certain attributes they've had their entire lives, and not because they became wealthy and then got the attributes. Perhaps the wealthy people were always more driven? more self centered? more focused? I just don't know.
Wealthy people can be wealthy, due to any number of reasons, or a mixture of them. Skill, luck, getting the right people around and listening to them (most also have some of the wrong people around), inheritance, etc. The later already skews your thought above. However having the "comfort" of money (or the lack of worry access to it provides) allows one to focus on other aspects of their lives (why us normal folk work day to day with money worries)
I think what people choose to drive is kind of fascinating since it's such a visible and expensive choice. My very first car was a 1971 Austin America which looked very much like the present day Mini-Cooper. My next car was a Triumph TR-3. Nowadays, I just drive an old Volvo. I like its simplicity and the fact that I don't have to worry about door dings, high insurance rates or someone stealing it. If I were wealthy, I would probably still buy an old restored Volvo. I just like them. On my way to work, I see so many $40K+ cars and wonder why that is so important to some people. I can appreciate Mr Money Mustache calling them clown cars as I don't see the value in spending that much on transportation.
bae....what's that cannister in your car? Helium? Nitrous Oxide? :~)
Fire suppression :-)
Alan......wouldn't you be afraid of getting squished in your mini cooper?
He shouldn't be - it's pretty decently ranked on the crash tests, and is nimble enough to avoid a lot of trouble. This is the car I was mentioning above as my favorite driver. Around here, it's perfect, top speed limit is 35-40 mph, and the roads are small and windy. When I first got it, I didn't think it would ever leave the county, but I have taken to driving it to Seattle recently, as it is so tremendously easy to park there.
I drive a red economy Toyota Yaris hatchback, and can be rather a jerk on the roads some days... :)
Stereotyping attitudes by what one drives seems kinda' meaningless to me.
I was talking about the study in which they measured the behavior of luxury car drivers vs. other drivers... that's all. The study quantified that behavior.
If I happened to devolve into stereotyping while discussing those findings, I do apologize.
Signed,
A liberal, self-righteous, Prius-driving tree hugger (and wimp on the road)
iris lilies
6-29-13, 6:48pm
I like cars and what they might say --to me--completely unscientifically--about the people who drive them.
I'm not much interested in boring luxury sedans, they are dull. But anyone who keeps a British Leyland product going, those are gearheards dear to my heart. I like the fact that they carry spart parts with them, the ones that break down the most often.
I do think certain people *tend* to buy certain types of cars, sure. But not *all* buyers of those sorts of cars are "certain people", judging an individual based on the fact that she drives a BMW is an error.
I have to agree here. I know a lot of people who are not wealthy, but pretend to be wealthy. And these are the ones who are most likely to behave in ways that I consider questionable.
It is this lot that I'm questioning in terms of using kickstarter to fund their established businesses, as an example. To me, it smacks of entitlement.
Whereas, those people whom I know who are self-made wealthy, tend to be frugal, aware, generous, etc (similar to the poor in my experience).
Perhaps it's just the trying to be something your not that makes one a jerk?
That's a good point Zoebird.
Dang it, wrote a long thing and lost it. Okay here again, I want to get back to the study and away from the cars, sorry. I am a Subaru driver BTW like 50% of Coloradoans. It is necessary, so I would never look down on a vehicle that can get out of its own way in bad weather,
So the study really looked at how our brains handle relative wealth and relative poverty. They talked about wealth and not as much about poverty in the clip so that is relevant. If you are wealthy in your community then that creates feelings that you worked hard, you earned what you have, you are intelligent or otherwise deserve this wealth, That can mean a car which is very obvious or being part of a monopoly game. Another poster brought up what came first, chicken or egg with the car owners. I have been thinking that the folks at the very top of an organization who will take a bonus while their company is getting handouts are there because of their mental issues, not in spite of them. I just didn't think that as soon as you got more money you could quickly start to change how you saw that money and your relationship to earning it. I can't dispute it, I think if a couple years ago I kept the better paying job and continued to move up I could see having more of that attitude easily. It is not all pervasively bad, I would still stop at cross walks, but I could imagine talking to me as I am now (low wages, regular struggle) and think that I somehow earned my money while the poorer me had made mistakes or not earned it.
This hits very close to me with my ex. We had nothing ourselves for so long, but would get a bonus check from that land now and then and keep our young family afloat. It was very hard, then he started to get better jobs, and actually jobs that paid quite well. The change in him was immediate. He used to have some social blunders but we still liked him. After a total social blunder I could talk to him nicely and we could work it out with the other person. I figured it was something like asperger's, other people did like him but he had to deal with some of the screw ups because they were not the type to ignore if that makes sense. So then he started earning more and he felt it was his money, not the families. It seemed many of the caregiving tasks such as putting kids to bed were treated as less important than tasks that earned money. He told me that volunteering was for suckers (I worked for our kids' activities), when he got one thing like a set of remote control airplanes started wanting something like a pilots's license that was astronomically bigger. What was painful was that he would no longer listen to any feedback. He had me convinced our friends only like him and put up with me so I stopped trying to help him socially. When we divorced so many people came to tell me the opposite. I have heard that men generally are happier in life when they are willing to listen to their partners. It sometimes does validate my experience that others had issues with him too, but most of the time it makes me so sad for him. We made the choice to have him focus on building earnings while I took care of everything at home and then when he was established I could then have the support o build my career and talents, the 2nd part never happened.
I suppose that because I'm not wealthy (unless you count the way Bae describes it), I'm not really qualified to say.
But, you know, we've had more money and we've had less, and overall, I feel pretty much the same and behaved pretty much the same throughout. I like to give to charity, etc, when I can -- and I like to help people out and so on (doesn't have to be a charity). I do give a lot of my time to people -- usually helping them with their businesses so that they can earn income, and that's rarely given in return (so I give it without thinking i'll get anything in return), because I get it from other people, too.
Anyway, that's just in my mind.
I wouldn't say that the game is rigged in my favor, but I would say that I've noticed that I've had a lot of advantages over the years -- some of luck, some of my own making.
flowerseverywhere
6-29-13, 11:03pm
I love these types of studies but they don't account for the outliers. In my case started with nothing, orphaned foster kid. Worked my way through nursing school. Married a lower middle class smart guy and together became Fi by 53 . Last year 20% of our income went to charity as well as a lot of volunteer time. By most standards we would be considered wealthy, living in a paid for house with a paid for car and not having to work. But digging deeper you would find out we almost never eat out, I still cut DH hair, and I never have had a manicure or pedicure. Our closet has useful clothing, but nothing frivolous One car family In other words, we have always lived well below our means and have been very generous. I think there are a lot of us out there who fall below the radar.
He shouldn't be - it's pretty decently ranked on the crash tests, and is nimble enough to avoid a lot of trouble. .
And considering the Mini just won the X-Games Ford Rallycross event (think motorcross with little cars complete with jumps, hairpin turns, in mud and muck) in Germany while racing on a flat tire coming off the rim (and also getting banged up and thrashed pretty well) it seems like a tough little car. And it was even the station wagon 4 door Mini!
As for what kind of cars the wealthy own - well I think it has a lot to do with where they live. When I lived in places like Alaska and Maine (and I suspect it's the same on Bae's island) it was much more common to see even the wealthy driving old pick up trucks and SUVs than expensive vehicles. Practicality was more important than style or ego. Where as here in SoCal it's more common to see luxury vehicles owned (or desired to own) by many people who actually can't afford them. Most of my friends - middle class and working class people - all have Lexius', Mercedes, BMWs, etc.. often luxury SUVs. And all have bought those even though they were far beyond what they could really afford. Deep debt with CCs or home equity loans back before their houses were underwater (and buying those kind of vehicles and other luxury items were what caused their houses to be underwater for the most part). They really look down on people like me who drive old trucks or more modest vehicles. To them, a vehicle is a reflection of your self worth not just your net worth. Sad but true.
Of course here in SoCal we all drive like we own the road so it really has nothing to do with the type of car or our income :-)!
I like cars and what they might say --to me--completely unscientifically--about the people who drive them.
.I drive a 11 year old pick up with a shell and roof racks for my "toys" in SoCal. I wonder what that says about me! Oh and I have a fast little motorcycle too :-)!
My most-driven vehicle is a 14 year old Volvo station wagon that carries its own ecosystem of moss and fungus on the roof and exterior panels.
In Southern California, people basically live in their cars, so that's where they put their money. But I don't see the point of flashy cars--just a target for thieves, basically.
ApatheticNoMore
7-2-13, 3:41pm
You know I really don't think you can even assume driving a more expensive brand of car indicates a lot of the money was spent on the car. If all we're talking about is Mercedes, BMW, and stuff like that, those can be gotten pretty reasonable if your willing to get a used one with a lot of mileage. Should one do this, that's a personal preference, though you are always taking risks with a car with a lot of mileage as opposed to a newer one. You're paying more for the brand, but not as much as people would assume if they think you are buying brand new cars.
I LOVE our red, economy 2007 Toyota Yaris Hatchback. Crank windows, locks with keys, etc. A super simple, easy to maintain, cheap to run vehicle, and rather cute. Plus, with the hatch & middle seat dropping down, it's almost a truck. :)
It's my 4th Toyota in 30 years, all used. Though if we follow our get-a-teardrop trailer dream, we may trade it in for a vehicle which could tow a teardrop, like a Matrix.
It's my 4th Toyota in 30 years, all used. Though if we follow our get-a-teardrop trailer dream, we may trade it in for a vehicle which could tow a teardrop, like a Matrix.
We're also considering that - the AWD version for our snowy clime.
I think Mini Coopers are cute, too, but be careful of earlier models. They may have issues with the power steering that can lead to a sudden failure. This happened to my friend's girlfriend recently -- unfortunately they didn't know about this issue and the car was totaled out and sold for scrap before they could gather evidence. She was seriously injured and they initially thought she might have had a stroke while driving.
http://usatoday30.usatoday.com/money/autos/2010-09-28-min-cooper-nhtsa-probe_N.htm
http://www.thecarconnection.com/news/1059660_nhtsa-takes-a-closer-look-at-mini-cooper-steering-problems
I don't own a car. Some people would immediately think I am some super environmentalist. Actually I am scared of 1) going through the process to get a license in China and 2) driving in Beijing's insane traffic and 3) spending a ridiculous amount of money to buy/run a decent, safe, car (imports very expensive and I'm wary of Chinese models due to lower safety standards, and taking taxis everywhere is much cheaper than keeping a car)
Catherine, I'm really interested in these categories you mention of functional attributes, rational benefits, emotional benefits, and higher order end benefits. I work for a public radio station that has to beg for money about once a quarter from our audience.
They give us these awful stilted scripts that have a bunch of blather about "Give because you love us," or "Give because we'll go away if you don't, or "Give because your gift keeps music on the air for others," or "Give because it's who you are," or "Give because we're a vital part of civilized culture and you're keeping the world from ending."
All of these approaches work to a certain extent, but some work better than others and I've been trying to figure out why. Our development team doesn't have any psychologists or market gurus on it, though, so you can't get any info from them about why we're using the guilt approach this time rather than the altruistic approach, or whatever. They're just sort of throwing stuff out there without understanding what they're doing. I think they'd do better if they were conscious of the approaches they're using.
Anyway, I'd love to know more about these aspects of various marketing approaches. Do you have any books to recommend?
Ha, sorry for the hijack, guys! Back to BMWs!
Well, in marketing we talk about functional attributes, rational benefits, emotional benefits, and higher order end benefits, and it's hard for most of us to even self-identify the higher order end benefits that compel us to buy without a lot of discussion and probing. So German technology and Corinthian leather are in the "functional attributes" lower rung of the decision process.
Can you tell me what your emotional higher order end benefit to driving your cars is? Rhetorical question--I don't expect you to know. And I sure don't claim to know. I'm just saying that just as razz said earlier, there's a whole lot going on in your subconscious (or my subconscious or anyone's subconscious) that drives (excuse the pun) what we buy.
And those subconscious elements influence our behavior, to bring this full circle to why the luxury car people are more likely than other drivers to blow through the pedestrian walkway.
On the topic of cars or any large purchase. If it is well within the means of the person buying the item then that should be ok. A nice car or big home is not always a show off or status symbol. Why this bothers me is because my husband likes fine cars. He pays cash and enjoys his hard earned money. I don't agree with his choice of cars, but I don't drive them or sit in them very often.
Last weekend on one of my seldom taken joy rides shades on and sitting low, a lady ( using the word loosely) bent over at the stop we were at and showed him what she had under her tank top. Umm guess the car impressed her?....
On the topic of cars or any large purchase. If it is well within the means of the person buying the item then that should be ok. A nice car or big home is not always a show off or status symbol.
One indirect benefit provided by the buyers of "nice" cars is that they create a market for advancements in technology and creature comforts that eventually trickles down to the cars I buy. The increasing market for these features -- like leather interiors and cars that park themselves or "watch" the traffic around them -- make them less expensive and more desirable to the folks who can't afford BMWs and Cadillacs. Today even mid-priced cars routinely offer those features.
If it is well within the means of the person buying the item then that should be ok. A nice car or big home is not always a show off or status symbol.
I think it's ALL "okay" - but such purchases are indicative of their mindset: i.e. what's important to the person doing the purchasing. Not a judgment call, just a fact.
In my community work I am side-by-side with some blindingly wealthy people, most of them really swell folks (self-selecting population naturally, since they are also doing community work). And like bae, fundraising puts me into contact with a ton of others with a lot of discretionary income. What they do - and do not - purchase with their hard-earned money seems to be an accurate indication of what kind of person they are inside, like it or not. And if uber-expensive possessions and living conditions far beyond what's needed to be comfortable is one's cup of tea, then they will easily attract others who have the same value set (like the booby woman). The ones who live well but pour their wealth into teaching or building lasting institutions or setting various kinds of positive examples will attract those who share THAT value set, etc. And of course there's some overlap.
I love cars. I also know that with the money I could spend on one of the models I fancy, I could provide clean drinking water for a village of 1000 people for many years to come. There is no choice there for me, because those are my values and I couldn't live with myself otherwise. But it's all very gray. I'm not going to sell my possessions and join the Franciscans (even if I could), and maybe they think *I* spend too much on "stuff"...... :)
No rights or wrongs about it, but in terms of who we create our community with, we all "choose our people." That's life.
kitten,
in terms of fund-raising, the most successful fundraiser I saw was a man who exuded enthusiasm for the project. His stance was, we're doing something fantastic here and you get to be a part of it. It was all energetic and fun.
in contrast, those fundraisers that are desperate and sad and begging = unsuccessful.
Catherine, I'm really interested in these categories you mention of functional attributes, rational benefits, emotional benefits, and higher order end benefits. ..
Anyway, I'd love to know more about these aspects of various marketing approaches. Do you have any books to recommend?
Hi, kitten,
I have a couple of general books, but they're very market-research methodology oriented. Not sure if they'd be specifically oriented to you, but if you could find How Customers Think by Gerald Zaltman, I think you'd find it really interesting.
It's so true that when we market stuff, we do it from our perspective, which is always a guarantee for failure. For example, I've done hundreds of research studies on ads to test print and TV commercials. I usually test the five "winners" that the ad agency/company think are going to do the best. I used to silently pick the one that I thought was going to do the best, but I was always DEAD WRONG. So I don't even guess anymore--I just let it play out. And I'm always a little surprised. Plus, I use techniques that bypass the rational brain, and that's always revealing also.
As for your radio station, is there any way you could do a message test using Survey Monkey among your listeners? Just send out a short questionnaire and ask them to rate on a 1-10 scale several messages that you think they might respond to.
Messages Like these (obviously you wouldn't incllude the parenthetical appeal notes I've included):
We depend on our dollars for WXYZ to keep us on the air (appeal: fear of losing a valued service)
Since 1901 we have given the community news, entertainment and information about local events--your dollars can help us continue (appeal: connection)
If you send $10 to us today, we will send you a bumper sticker saying ".... " (Appeal: reciprocity)
Unlike cable TV, air waves are free. Won't you show your appreciation for this gift with a small donation. (Appeal: altruism/gratitude)
For each question, ask, "On a 1-10 scale indicate the degree to which each message makes you interested in contribute to WXYZ.
Then you should always have an open end inviting people to tell you why.
That might help give you a focal point for your campaigns. If you did full blown market research, after that you'd do another SurveyMonkey with the whole copy and ask people to weigh in on it.
If you had $10k-15k for research you could probably do an online discussion board.
If you had a minimum of $20k you could do a nice qualitative in-person market research project.
I bet you'd be surprised at your listeners' responses.
I think it's ALL "okay" - but such purchases are indicative of their mindset: i.e. what's important to the person doing the purchasing. Not a judgment call, just a fact.
I think it's all OK as long as one can afford it. However it is sort of a new version of "Keeping Up With The Jones" kind of thing - at least here in SoCal. Always wanting to be even with "the Jones" in terms of material goods to impress and feel equal financially. And now that "The Jones" are no longer your next door neighbor in a similar economic bracket but the more monied people we see on TV or interact with all the time, keeping up with them is getting darn expensive and never ending. My friend really wanted a corvette to impress the women with. he bought one for $60K and the first vehicle to pull up next to him was a $250K Ferrari. Now he wants to up grade to a Ferrari even though I pointed out to him that the first car that pulls uyp to his new ferarri could be a $ million dollar sports car. He doesn't see that when he constantly tries to keep up with the Jones, the Jones will always have something better than he has. Sigh.... That's why I don't worry much about how I look. I could spend tens of thousands on cosmedic surgury and the first person I'd be standing next too would be some 20-something super model who makes me feel the need to "up grade" some more :-)!.
it is sort of a new version of "Keeping Up With The Jones" kind of thing
We have a lot of transplants moving here from other places (a lot from California) and the number of BMWs and Range Rovers on the road has gone up exponentially.
We have a lot of transplants moving here from other places (a lot from California) and the number of BMWs and Range Rovers on the road has gone up exponentially.
Yep we're like a virus - we just take over everything and convert you to our evil consumer ways :-) . But I do know that when I travel out of the OC and LA areas I feell much more like I "belong" then I do there.
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