Eastman, Jacqueline K.

English

Georgia Southern University: Digital Commons@Georgia Southern

Georgia Southern UniversityDigital Commons@Georgia SouthernBusiness in Savannah Articles Business, College of - College Publications6-30-2010Is Bling Dead — or at Least Wounded?Jacqueline K. EastmanFollow this and additional works at: https://digitalcommons.georgiasouthern.edu/savannahThis article is brought to you for free and open access by the Business, College of - College Publications at Digital Commons@Georgia Southern. It hasbeen accepted for inclusion in Business in Savannah Articles by an authorized administrator of Digital Commons@Georgia Southern. For moreinformation, please contact digitalcommons@georgiasouthern.edu.Recommended Citationhttp://coba.georgiasouthern.edu/pdf%20files/2010_06_30_Eastman_Bling_Dead.pdfBusiness in Savannah | businessinsavannah.com | 912-652-030010 | Wednesday, June 30, 2010Much has been writtenabout the cautious nature ofconsumer spending over thepast several years.In June 2010, studentsin the marketing researchcourse at Georgia SouthernUniversityconducted ane-mail surveyof 220 adultsto measuretheir attitudeson a variety ofeconomic top-ics. The surveyresults suggestconsumers donot believe the economy willimprove over the next sixmonths.Furthermore, consumersare somewhat price con-scious and prone to usingcoupons and are neutralregarding the importance ofbrand names. The outcomethat appears most importantto consumers is that they getvalue for their money.The survey also examinedconsumer motivation to pur-chase status products andidentified several areas ofconcern for businesses thatsell luxury products.Only about 5 percent ofthe sample indicated theywere interested in and wouldbuy status products. Fifty-seven percent agreed theywere less likely to buy statusproducts during an eco-nomic downturn, and50 percent felt it is frivolousto do so.The news is even worsewith respect to price issues,with more than 80 percentof the sample agreeing thatan inexpensive product canhave status and they wouldbuy status brands at a dis-count store.Thus, the majority ofrespondents did not feelcomfortable buying statusor luxury products andwould consider inexpensiveproducts and discount storemerchandise to meet theirneed for status consumption.In fact, there was a posi-tive relationship betweenconsumers’ need for statusand their willingness to buystatus products at discountstores.It should be noted thatwhile status consumers aresomewhat price consciousand value conscious, theyare significantly less so thanconsumers who are notmotivated to consume forstatus.In addition, consumerswith a higher need for statusare more brand consciousand more likely to associatea higher price with betterquality.This suggests there aredifferences in the levels ofprice, value and brand con-sciousness among consumerswho are motivated to con-sume status or luxury prod-ucts. However, there may notbe many of these consumersbased on our conveniencesample of adults living in theSoutheast, and they are will-ing to shop discounters andbuy inexpensive products tomeet their status needs.Our research suggests thatwhile bling may not be dead,it is certainly on life support.Exactly what representsbling to consumers may bedifferent than in the past,and the same is true of thestatus shopping experience.Those marketing statusproducts may need to focuson keeping their currentcustomers loyal while alsoexpanding their marketbecause status consumersrepresent a small percentageof the overall market.This may require commu-nicating the value that theirproducts offer rather thanjust the status they provide.Marketers must explain boththe rationale for buying theirproducts and the benefitsthey offer.Finally, firms may needto reconsider their retailoutlets and price points toattract consumers whilerecognizing the long-termbrand impact that non-pre-mium pricing and discountretail outlets have beyondthe current economy.Jacqueline K. Eastman is anassociate professor of marketingat Georgia Southern University.She may be reached at jeastman@georgiasouthern.edu.Is bling dead — orat least wounded?BiS FROM THE CHAMBER | EAGLE EXECUTIVEJacquelineEastmanThose marketingstatus productsmay need to focuson keeping theircurrent customersloyal while alsoexpanding theirmarket.Peak summer season ishere for busy Tybee Island.Our season started earlythis year with the April2010 hotel/motel tax reportshowing a 7.4 percentincreasecompared to2009.Traf-fic at theTybee IslandVisitor’sInformationCenter isalso up, withApril’s visitorcount up 20.9 percent andMay’s count up 21.6 percentcompared to 2009.Upcoming eventsRight now, we are gettingready for a big Fourth ofJuly weekend. The weekendis packed with activities,and we are expecting morethan the average number ofvisitors.The annual fireworksdisplay will be July 3.New this year willbe Tybee Throws a Fit,sponsored by OceanfrontCottage Rentals on July 2.This fitness event marksthe one-year anniversary ofTybee Island being namedthe No. 1 Healthiest Beachby Health Magazine.Local fitness enthusiastsand personalities like StyleNetwork’s Ruby Get-tinger and celebrity trainerMichael Banks will assistwith the day’s activities.Events will include seakayaking lessons, yogaon the beach, kiteboard-ing lessons, a doggiepromenade and more.For more information,go to TybeeVisit.com orTybeeThrowsAFit.com.For those interested involunteer opportunities, theTybee Beautification Asso-ciation will host a BeachSweep on July 4.The marketingperspectiveThe Tybee Island Tour-ism Council has been busyputting together our 2010-2011 Tybee Island VacationPlanner and updating ourwebsite, TybeeVisit.com.For the vacation planner,we’ve collaborated withWrite to Work Inc.’s ArleneDistel, who has a strongbackground in copy writingand project management.Distel has helped bringour vision to reality. Thenew look is clean, fresh,laid-back and will serve asa base for the rest of ourmarketing materials.Our goal with theTybeeVisit.com’s updateswas to create a more user-friendly informative site forvisitors and potential visi-tors to find what they needfor their Tybee getaway.Additions to the site includeupdated pictures, new con-tent, a special offers pageand a Tybee blog.We’re already reap-ing the benefits of theseimprovements. Visits toTybeeVisit.com are up12.57 percent year overyear. The most recentmonthly figures, fromMay 22 through June 22,are up 36.05 percent overthat same time period lastyear.Recent accoladesWe’ve been namedto TripAdvisor’s Top 10Vacation Rental Hotspotsfor 2010 and ConnectSavannah’s Best LocalFacebook Page.If you haven’t been toTybee yet this summer,pack up your family orfriends and come visit.Spend the day hanging outon the beach then sampleone of Tybee’s fun surfsiderestaurants.For more informationon all things Tybee, go toTybeeVisit.com. We’re alsoon Facebook. Search forTybee Island, Georgia.Lindsay Fruchtl is the marketingcoordinator for the TybeeIsland Tourism Council. You cancontact her at 912-786-5444 orlindsay@tybeevisit.com.Foot, web traffic up on TybeeLindsayFruchtl

Is Bling Dead — or at Least Wounded?

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Is Bling Dead — or at Least Wounded?

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