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What is Status

Handbook of Research on Consumption, Media, and Popular Culture in the Global Age
Relative social standing in the society. Relative rank or position in the social hierarchy that also affects the amount of importance, respect, admiration, or prestige that the person has in that social group.
Published in Chapter:
Popular Culture and Peer Effects in Consumption: Survey of Economic Consequences
Unay Tamgac Tezcan (TOBB University of Economics and Technology, Turkey)
DOI: 10.4018/978-1-5225-8491-9.ch002
People are not living in isolation and they are largely affected by the people around themselves. People's consumption decisions are also influenced by the decisions and actions of their peers, what is called “consumption peer effects.” In the last decades there have been two major changes in the social and economic life that has affected masses: the internet revolution and the rise in inequality. Consequently, peer effects have become more important in consumption decisions and so has been its aggregate impact. This chapter provides a survey on consumption peer effects and its economic consequences by relying on recent empirical findings. It starts with a discussion on peer effects and conspicuous consumption, why and how comparisons are made, and how culture affects peer effects. Following is a discussion on the recent changes in the popular culture, their effect on peer effects and the resulting consequences. The chapter concludes with some policy recommendations.
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Brands, Fans, and Exchanges: Differentiating Between Fandoms, Transactional and Social Brand Communities, and Brand Publics
A hierarchical social position created through social differentiation across groups and/or individuals based on any valued dimension.
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Why Students Prefer “Business Administration Education”?: A Qualitative Research With the International Students
It is about how the individual perceives herself/himself in society and how she/he is perceived by society and includes the roles she/he has.
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How Business School Research Values Shape the Student Experience
Where an individual (or individuals) are seen to possess more social or cultural capital than others within a group.
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