Article2007

Measuring and exploring symbolic money meanings

78 citations0/0 files storedPsychology and Marketing

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Consumer Behavior in Brand Consumption and Identification Financial Literacy, Pension, Retirement Analysis Cultural Differences and Values

Abstract

Abstract This paper develops a scale to explore the symbolic meanings of money. Individual differences in the meanings and uses of money represent a fundamental issue in marketing, potentially influencing a wide variety of behaviors. Four dimensions were found based on a literature review and subsequent testing. Achievement and status, respectively, examine the extent that an individual perceives money as a marker of accomplishment or prestige. Worry examines the extent that a person feels anxious about money, whereas security examines the extent that an individual values money as a means of protection from an uncertain future. These dimensions are theoretically grounded, empirically tested, and potentially serve as a bridge between more general personal values and more specific consumer behaviors. © 2007 Wiley Periodicals, Inc.

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References

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