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Cross-cultural folk-tale-elicitation research on the perceived power, humanistic and religious symbolisms, and use of money

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  • Merchant, Altaf
  • Rose, Gregory
  • Martin, Drew
  • Choi, Sunmee
  • Gour, Mohit

Abstract

This study examines money's symbolic meaning to consumers. The long interview method was applied in India and Korea with emic and etic interpretations to uncover important cultural contextual influences regarding deep-seated symbolic motivations relating to money. Specifically, some Koreans emphasize the importance of spending for enjoyment and the dangers of excessive saving, while Indians universally endorse saving. To provide additional insights, this study introduces folk tale elicitation (FTE). Study results reveal several themes, including money's importance and necessity for providing, security, social legitimacy and respect; the danger of excessive material desire and the potential deleterious transformational nature of wealth; and the importance of providing for one's family. These differences may reflect and stem from economic and cultural differences between the two nations.

Suggested Citation

  • Merchant, Altaf & Rose, Gregory & Martin, Drew & Choi, Sunmee & Gour, Mohit, 2017. "Cross-cultural folk-tale-elicitation research on the perceived power, humanistic and religious symbolisms, and use of money," Journal of Business Research, Elsevier, vol. 74(C), pages 113-119.
    • Handle: RePEc:eee:jbrese:v:74:y:2017:i:c:p:113-119
    DOI: 10.1016/j.jbusres.2016.10.021
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    References listed on IDEAS

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    1. Martin, Drew & Palakshappa, Nitha & Woodside, Arch, 2019. "Consumer metaphoria: Uncovering the automaticity of animal, product/brand, and country meanings," Australasian marketing journal, Elsevier, vol. 27(2), pages 113-125.
    2. Claudiu Herteliu & Ionel Jianu & Iulia Jianu & Vasile Catalin Bobb & Gurjeet Dhesi & Sebastian Ion Ceptureanu & Eduard Gabriel Ceptureanu & Marcel Ausloos, 2021. "Money’s importance from the religious perspective," Annals of Operations Research, Springer, vol. 299(1), pages 375-399, April.

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