BUS 1050 1nd Edition Lecture 17Outline of Last Lecture I. Marketing and PromotionsOutline of Current Lecture II. Accounting and MarketingIII. VeblenIV. GalbraithCurrent LectureConclude Marketing, Intro to AccountingJohn Galbraith- not assigned in readings but should studyPrimatology-> Anthropology->Philosophy->Nietzche->Freud->Adler->Political Science->Public Relations->DilenschneiderPolitical Science = Machiavell, Hobbes, Locke, RousseauVeblen (consumer behaviorist)Vecuniary Emulation-Trophy HuntingConspicuous Consumption-Canons of expenditure and repute-Standard of LivingTheory of the Liege of ClassPower is not measured relative to income but rather possessions. More power, More predatory. Influences people to move from powerlessness to more power.P270. L46. Root of ownership is emulationP271. L35-85. Believes that real power comes from real courageous acts. P272. L14. Those that don’t get income of properties will suffer and fail.P275-275 ** in depth about conspicuous consumptionThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.P276. L25. Genuine of leisure. Costly entertainments P278. L25. L39. Canons of Expenditure. Brands represent power. Buying family brands are middle class aspirations. Buying luxury represent upper class aspirations.Price of product represents aspirations for power. Expenditure is product selling in relation to price.P278. L52. Standard of living and breaking physical and natural habits. 1956. The Affluent Society. Biggest business book seller. Galbraith, award winner. Chapter: The dependence effect. About revenue and demandIt now produces the demand that it used to satisfy. The development of creating demand synthesis. Marketing approaches advertisement.Born to satisfy needs. Demand 2 is unjust to a moral society. (Galbraith)Marketing is safest bet to civilization from war and
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