Aspirational Marketing

Sep 30, 2008Archive

I was perusing the Sunday paper this week when this term popped out at me. Do you know what aspirational marketing means?

It means that marketers target consumers to consume items that make them look more rich, even though they can’t afford the item in the first place. It’s all about purchasing prestige on credit.

Is it any wonder our financial systems are in crisis? Instead of merely pointing fingers at corporate greed, how about pointing fingers at our lack of discernment? What is wrong with us? Why do we believe the enticements of marketers that say, “You will be happier if you buy this luxury car, even though you can’t afford it, because you will then appear to be what you want to be.” Aspirational marketing is problematic; but it’s problematic because we buy into it.

It’s time we get back to good old common sense.

  1. Make a budget.
  2. Stick to it.
  3. Save money for contingencies (three months salary in the bank).
  4. Don’t buy things for prestige.
  5. Be content.
  6. Give away.
  7. Fast from advertising.
  8. Pay with cash.

Those who learn to practice these habits will fare better as the economy reels.