Can someone please explain what "consumer socialisation" is.

I would really appreciate it if its not copy and pasted from other website because I've searched it up, but I just don't understand it.

Thank you

You've "searched it up"? Odd phrasing.

This seems to be a fairly new term in the business world. I've never heard it before. Is it focused on in your text or notes?

http://www.google.com/search?q=consumer+socialisation&oq=consumer+socialisation&aqs=chrome..69i57j0l5.1700j0j7&sourceid=chrome&ie=UTF-8

Im currently doing an assessment for business, and consumer socialization

is one of the questions in the assessment.

It seems to be a term used regarding "young people" (what? teens? younger??) and teaching them how to plan and purchase things wisely.

Certainly! I'd be happy to explain what "consumer socialization" is.

Consumer socialization refers to the process by which individuals acquire knowledge, attitudes, and skills that enable them to function as consumers in a given society. It is the process through which we learn how to engage with the marketplace, make purchasing decisions, and develop shopping habits.

To better understand consumer socialization, think about how we learn to be consumers from a young age. We are socialized into understanding and participating in the consumer culture through various channels, including family, friends, education, and media.

Family plays a crucial role in consumer socialization. Children learn about consumption behaviors from their parents or guardians who act as role models. For example, observing how parents shop, budget, and make choices influences a child's understanding of consumerism.

Peers and friends also shape consumer socialization. Interactions with friends at school or in social settings can lead to the adoption of certain consumer preferences and behaviors. For example, if everyone at school is wearing a particular brand of sneakers, a child may feel the need to conform and seek out the same product.

Education, too, plays a role in consumer socialization. Schools may offer courses on consumer education or incorporate discussions about consumerism in various subjects. These educational settings can provide children with information about responsible consumption, financial literacy, and critical thinking when making purchasing decisions.

Media, such as advertising and marketing, also heavily influences consumer socialization. Through advertisements, children and adults are exposed to products, brands, and aspirational lifestyles. Media messages shape their understanding of what products they should desire, leading to the formation of preferences and values related to consumption.

In summary, consumer socialization is the process by which individuals learn and internalize the knowledge, attitudes, and skills necessary to be functioning consumers in a society. This process is influenced by family, peers, education, and media, and it plays a vital role in shaping our consumption behaviors and habits.