Abstract:
This study explores the social effect of status symbols on consumer behavior within the context of Islamabad, Pakistan. The study explores the link between status symbols and social acceptance and whether influencing pressures cause changes in buying behavior. It seeks to understand why people make purchasing decisions based on social conformity and how customers feel about counterfeit products. It explores the reasons and desires of people to be part of a social group and why they make uncomfortable purchases, it explores the changing consumer trends and perceptions within Islamabad towards status symbols. The researcher has followed a qualitative methodological approach by conducting audio taped interviews among university students and working employees within Islamabad, the results obtained have then been transcribed and coded from which categories/themes have emerged allowing the researcher to present the results and make conclusions free from bias. The results show that status symbols affect social acceptance and individuals make purchasing decisions based on social conformity in order to gain acceptance and recognition within a social group. Influencing pressures in the form of family, friends/peers, religion/culture and university/work cause changes in buying behavior. People do not always have a negative image towards counterfeit products. Desires towards social groups differ due to varying perceptions, uncomfortable purchases are caused due to influential pressure and most do not succumb to this. Identifying consumer trends helps researchers and companies to understand, meet and exceed the customer’s expectations.
