University at Buffalo School of Management

22 Buffalo Business Autumn 2017 Believe in the American dream? you're less likely to impulse buy When materialistic con- s u m e r s b el i e ve i n th e American dream — that it's possible to improve their eco- nomic status through hard work — they are less likely to spend impulsively, accord- ing to new research from the School of Management. "When materialistic people believe they have the power to change their finan- cial circumstances, they're more likely to save money and focus on long-term suc- cess, rather than the short-term pleasure of buying the latest technology or products," says Sunyee Yoon, assistant professor of marketing. Conversely, those who were pessimis- tic about their potential to move up the economic ladder were less likely to reg- ulate their impulse spending, according to the study, published in the Journal of Marketing Research. However, the research also found op- timistic consumers were likely to make un- planned purchases they thought could help achieve their goals (for example, new cloth- ing for a job interview). Yoon and her co-author, Hyeongmin Christian Kim, associate professor in the Johns Hopkins University Carey Business School, conducted four studies with urban consumers and university students. In each study, they randomly assigned participants to two groups, manipulated their percep- tions of economic mobility with news re- ports and measured their likelihood to spend impulsively. "For marketers, it's important to un- derstand that you can influence percep- tions of the American dream depending on your goals," Yoon says. "It's the differ- ence between choosing a spokesperson like Oprah, a self-made billionaire, or Paris Hilton, an heiress." Yoon says nonprofits working to re- duce consumer spending and debt should highlight examples of the American dream in their marketing. In addition, she advises marketers to research perceptions of eco- nomic mobility in other countries before planning international campaigns. x 'Two-Minute Tuesdays' feature bite-sized research In addition to being outstanding edu- cators, School of Management faculty are leading scholars in their fields. Their re- search is cited oen by mainstream media worldwide, including The Washington Post, Bloomberg Businessweek and Forbes. However, keeping up with all the excit- ing research that's coming out of the school can be a challenge. To that end, we rolled out a series of videos last semester featur- ing research from emerging thought lead- ers in the school. Dubbed "Two-Minute Tuesdays," the series featured a new video each week where a faculty member described a re- search initiative — in less than two min- utes. Topics ranged from shared leadership to supply chain costs in health care to cloud computing and more. You can see all eight videos on the S chool of Management's website at mgt.buffalo.edu/twominutetuesdays. Sink your teeth into them and enjoy. x insights leaders on leadership Check out the School of Management's new blog: On Leadership. With a rotating cast of faculty and staff authors, there's a new topic every couple of weeks. yoon Visit mgt.buffalo.edu/onleadership

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