Srusti Management Review

A Journal of Management & IT

ISSN NO: 0974-4274(PRINT), ISSN NO: 2582-1148(ONLINE)Listed in Ulrich's Periodicals Directory, INDEXED IN J-GATE E-JOURNAL GATEWAY, EBSCOHOST, PROQUEST, U.S.A. & GOOGLE SCHOLAR A Peer Reviewed and Refereed Journal

Authors Desk

Link with UGC Journal List

An Empirical Investigation of Materialism in Indian Consumers

Year	2012
Volume/Issue/Review Month	Vol. - V \| Issue II \| July
Title	An Empirical Investigation of Materialism in Indian Consumers
Authors	Dr. Manit Mishra , Dr. B.B. Mishra
Broad area	An Empirical Investigation of Materialism in Indian Consumers
Abstract	The paper explores the consumer value of materialism in Indian socio-cultural milieu. The construct validity of the Richins & Dawson (1992) scale of materialistic values is established and relationship of materialism with the constructs of happiness, life-satisfaction, and religiosity is assessed using data collected from 252 respondents through a self administered questionnaire. The research methods used for analysis included MTMM approach for construct validation and correlation analysis for assessment of relationships. The analysis revealed that the Richins & Dawson (1992) scale has acceptable reliability, convergent validity and discriminant validity leading to construct validation. Further, while materialistic tendencies do not influence happiness and religiosity, it actually enhances the life-satisfaction level. The results have utilitarian value in terms of target market profiling, product positioning and designing of advertising appeal.
Description	The concept of the hedonic construct of materialism as an inherent constituent of lifestyle has been a profoundly dialectical construct. The issue has been of interest to a range of people â€“ from the dilettante who have dabbled in its aura to the prophe
File
Referenceses	Abela, A.V. (2006). ‘Marketing and Consumption: A Response to O’Shaughnessy and O’Shaughnessy.’ European Journal of Marketing, 40 (1/2): 5-16. AC Nielsen, (2006), ‘Indian Consumers Most Optimistic: Survey.’ Businessline, 22 February. Ahuvia, A. C., and Wong, N. Y. (2002). ‘Personality and Values based Materialism: Their Relationship and Origins.’ Journal of Consumer Psychology, 12 (4): 389-402. Beck, S. (2003). India and Southeast Asia to 1875. World Peace Communication Books: California. Belk, R.W. (1983). ‘Worldly Possessions: Issues and Criticisms.’ In Bagozzi, R.P. and A.M. Tybout (Eds.), Advances in Consumer Research, 10: 514-519, The Association for Consumer Research. Belk, R.W. (1984). ‘Three Scales to Measure Constructs Related to Materialism: Reliability, Validity, and Relationships to Measures of Happiness.’ In Kinnear, T. (Ed.), Advances in Consumer Research, 11: 291- 297, The Association for Consumer Research. Belk, R.W. (1985). ‘Materialism: Trait Aspects of Living in a Material World.’ Journal of Consumer Research, 12: 265-280. Burnett, J.J. and Bush, A. J. (1986). ‘Profiling the Yuppies.’ Journal of Advertising Research, 26: 27-35. Campbell, D.T. and Fiske, D. W. (1959). ‘Convergent and Discriminant Validation by the Multitrait-Multimethod Matrix.’ Psychological Bulletin, 56: 81-105. Chatterjee, S. and Datta, D. (1984). An introduction to Indian philosophy (8th Ed.). University of Calcutta. Chattopadhyaya, D. (1993). Indian Philosophy (7th Ed.), People’s Publishing House, New Delhi. Converse, P. and Robinson, J. (1965). The Use of Time in American Society. Chicago: Aldine. Csikszentmihalyi, M. (2000). ‘The Costs and Benefits of Consuming.’ Journal of Consumer Research, 27: 267- 272. De Anggelis, T. (2004). ‘Consumerism and its Discontents.’ American Psychological Association Monitor, 35 (6): 52. Diener, E. (2000). ‘Subjective Well-Being: The Science of Happiness.’ American Psychologist, 55 (1): 34-43. Gurin, G., Veroff, J., and Feld, S. (1960). Americans View Their Mental Health. New York: Basic Books. Hofstede, G. (2001). Culture’s Consequences: Comparing Values, Behaviors, Institutions, and Organizations Across Nations. New Delhi: SAGE. Kasser, T. (2002). The High Price of Materialism. Cambridge. MA: MIT Press. Myers, D. G. (2000). ‘The Funds, Friends, and Faith of Happy People.’ American Psychologist, 55 (1): 56-67. Nunnally, J. C. (1978). Psychometric Theory (2nd Ed.). New York: McGraw-Hill Book Company. O’Shaughnessy, J. and O’Shaughnessy, N. J. (2002). ‘Marketing, the Consumer Society and Hedonism.’ European Journal of Marketing, 36 (5/6): 524-547. Peter, J.P. (1981). ‘Construct Validity: A Review of Basic Issues and Marketing Practices.’ Journal of Marketing Research, 18: 133-145. 22 Srusti Management Review, Vol -V, Issue - II, July-2012 Prabhupada, A. C. Bhaktivedanta Swami. (1995). Teachings of Lord Chaitanya: The Golden Avatar, The Bhaktivedanta Book Trust. Radhakrishnan, S. (2006). The Bhagvadgita (24th Impression). Harper Collins Publishers. Richins, M. (1987). ‘Media, Materialism, and Human Happiness.’ Advances in Consumer Research, 14: 352- 356. Richins, M.L. and Dawson, S. (1992). ‘A Consumer Values Orientation for Materialism and its Measurement: Scale Development and Validation.’ Journal of Consumer Research, 19: 303-316. Rindfleisch, A., Burroughs, J. E. and Denton, F. (1997). ‘Family Structure, Materialism, and Compulsive Consumption.’ Journal of Consumer Research, 23: 312- 325. Ruekert, R.W. and Churchill Jr., G. A. (1984). ‘Reliability and Validity of Alternative Measures of Channel Member Satisfaction.’ Journal of Marketing Research, 21: 226- 233. Schiffman, L. G. and Kanuk, L. L. (2005), Consumer Behavior (8th Ed.). PHI. Sullivan, J.L. and Feldman, S. (1979). Multiple Indicators: An Introduction. Sage University paper series on Quantitative Applications in the Social Sciences, Sage Publications. The Knowledge Company. (2006). ‘Indian Luxury Goods Buyers Set to Treble by 2010.’ The Hindu Businessline, 24 (February). Wilkes, R.E., Burnett, J. J., and Howell, R. D. (1986). ‘On the Meaning and Measurement of Religiosity in Consumer Research.’ Journal of the Academy of Marketing Science. 14: 47-56.