Luxury Brand Perception and Consumer Attitude to Extended Luxury Brand

2014 ◽  
pp. 191-199
Author(s):  
Hao Zhang ◽  
Xiaoyu Zhao ◽  
Changhan Lee
Keyword(s):  
Emerging Markets ◽  
Social Dimension ◽  
Consumer Attitude ◽  
Luxury Brands ◽  
Luxury Brand ◽  
Value Perception ◽  
Functional Dimension ◽  
The World ◽  
Luxury Products ◽  
Brand Perception

South Korea, as one of the largest economies and emerging markets in the world, continues to be attractive to luxury companies. There is dramatic increase in purchasing power for luxury products in Korea. This chapter discusses Korean consumers' value perception of luxury products and their influences on consumers' attitudes to extended luxury brands. The result shows that functional dimension, financial dimension, social dimension, and brand dimension can significantly influence consumers' attitudes. At the end of the chapter, conclusions and implications are discussed.

Inconspicuous Luxury Consumption

2021 ◽  
pp. 65-85
Author(s):  
Aslı Tolunay Kuşçu
Keyword(s):  
Theoretical Framework ◽  
Value Proposition ◽  
Luxury Brands ◽  
Luxury Consumption ◽  
Luxury Goods ◽  
Economic Changes ◽  
Luxury Brand ◽  
Complex Development ◽  
Managerial Implications ◽  
Luxury Products

With luxury consumption still growing fast despite various challenges such as increasing competition, rise in rental luxuries, and in counterfeits, luxury brands are challenged with an additional and complex development: consumers' interest towards inconspicuous luxury products. Being one of the major characteristics of luxury goods, conspicuousness is losing its value among some luxury shoppers necessitating a new definition for luxury and a new value proposition for luxury brands. This chapter initially provides a review on luxury and on the different motivations that determine luxury consumption. Next, socio-economic changes that trigger the shift from conspicuous to inconspicuous luxury consumption is examined briefly. And finally, a discussion on why inconspicuous consumption is valued by consumers is followed by a theoretical framework on the motivations for inconspicuous luxury brand usage. The chapter then concludes with theoretical and managerial implications.

Exploring luxury brand country of origin impact on purchasing behaviors in India

2015 ◽  
Vol 7 (3) ◽  
pp. 216-236 ◽  
Author(s):  
Don Schultz ◽  
Varsha Jain
Keyword(s):  
Qualitative Study ◽  
Web Sites ◽  
Country Of Origin ◽  
Luxury Brands ◽  
Cue Utilization ◽  
Content Type ◽  
Luxury Brand ◽  
Indian Consumers ◽  
Luxury Products ◽  
Two Phases

Purpose – Luxury brands’ marketing efforts have traditionally focussed on developed nations since that has comprised the majority of consumer demand. However, double-digit growth in developing nations such as India and China, have attracted the attention of most luxury brand managers. Using cue utilization theory, the authors conducted a qualitative study in two phases comprised of first, focus group discussions (FGD), structured observations (SO) and second, In-Depth Interviews (IDI) to understand the effects of country of origin (COO) on Indian consumers’ current day purchasing behaviors with luxury products. The paper aims to discuss these issues. Design/methodology/approach – Using cue utilization theory, the authors conducted a qualitative study in two phases comprised of first, FGD, SO and second, IDI to understand the effects of COO on Indian consumers’ current day purchasing behaviors with luxury products. A conceptual framework has been developed that should help luxury brands formulate marketing strategies for this booming market. Findings – Further, this study found that COO affects the exploration of luxury brands and this process is carried out digitally and primarily with friends. Luxury brand managers can insert detailed information about COO on web sites and can understand the keywords used in the search engines to facilitate consumers using appropriate consideration data. This research also found that COO is compared on the basis of quality, features and innovation. Research limitations/implications – The results of this study are only from one emerging country, i.e., India. Similar studies should be carried out in other emerging nations. Additionally, developed countries can also carry out comprehensive research in this domain as their behavior is also changing for COO and luxury brands. Originality/value – This insight can be used by the brand managers and they can develop apps and web sites that would help the consumers to compare the COO for their products. Additionally, this research found that COO helps the luxury consumers to evaluate the brands and how they associate it with consumer images. Luxury brand managers need to be conscious when their countries products/ brands have been rated low by the consumers as it could result in consumers simply discarding them from their consideration set.

The influence of country image on luxury value perception and purchase intention

2017 ◽  
Vol 11 (1) ◽  
pp. 88-110 ◽  
Author(s):  
Ketsuree Vijaranakorn ◽  
Randall Shannon
Keyword(s):  
Purchase Intention ◽  
Economic Value ◽  
Perceived Value ◽  
Country Image ◽  
Luxury Brands ◽  
Content Type ◽  
Value Perception ◽  
Utilitarian Value ◽  
Symbolic Value ◽  
Luxury Products

Purpose This study aims to develop a theoretical concept by examining the country image effects on luxury value perception, a matter past studies have overlooked. Multiple facets of country image, cognitive and affective dimensions, have been developed to evaluate perceived luxury value and purchase intention. However, no prior studies have considered all the types of perceived luxury values: utilitarian value, hedonic value, symbolic value and economic value, considered in relation to cognitive and affective country image in an emerging country’s market. Accordingly, this study has attempted to explore the ways Thai luxury consumers perceive the image of the country and the influence of the perceived value of Thai luxury brands, to learn which country attributes strengthen the luxury brand’s value and customers’ purchase intention. Design/methodology/approach A total of 407 Thai respondents, who were luxury-product consumers who knew and previously had bought either Thai luxury brands or global luxury brands, comprised the final sample examined. Structural Equation Modeling was employed in this research to test the research hypotheses. The structural model proposed a causal relationship between two endogenous constructs, cognitive and affective country images, and five exogenous constructs: utilitarian value, hedonic value, symbolic value, economic value and purchase intention. Findings The findings confirmed that countries are like brands in that the perceived image of each country’s aspects, cognitive and affective, influences the perceived value in each dimension differently, and so affects purchase intention. This implies that the evaluation of perceived quality or perceived value for money, as in past studies, cannot accurately demonstrate what particular benefits consumers receive when they utilize the country-image cue. Country image has both symbolic and emotional significances for consumers. The findings have provided a more precise measure of the effects of country image as well as important information on country positioning the in the world market. Research limitations/implications There are some limitations in this study. The reliance on Thai samples from one city has limited the generalizability of the findings. Moreover, this study considered only one country of brand origin, and only one product category has been chosen as the stimulus, which together are the major limitations of this study. Future research could also consider further testing country image effects on value perception with other extrinsic attributes, rather than using a single cue, as this study did. Additionally, antecedent variables that may have an influence on country-image effects should be considered in future studies. Practical implications The relation of country image and value perception could help both governments and companies support their national brands more effectively, or to export products in accordance with the image aspect that most strongly impacts consumers’ positive perception of value. Moreover, it would be valuable for companies producing luxury products to know which country attributes strengthen the brand’s value. Luxury-brand managers will have to take these aspects into consideration when developing their communications strategies (Krupka et al., 2014). Originality/value There is a lack of research as regards the impact of a brand name’s perceived origin on the luxury perception associated with that brand (Salciuviene et al., 2010). This research is the first to investigate the theoretical framework of luxury value perception found in relation to cognitive and affective country images. From an academic perspective, this study sought to increase the theoretical research relating to the ambiguous conceptualization of the country-image effect on consumers’ perception of value in luxury products. Additionally, the relation of country image to luxury value perception could help both governments and companies support their national luxury brands more effectively, or to export luxury products in accordance with the image aspect that most strongly impacts consumers’ positive perception of value.

scholarly journals Mass Prestige brands – the end of traditional luxury brand marketing?

2019 ◽  
pp. 187-198
Author(s):  
Joanna Pietrzak
Keyword(s):  
Model Fit ◽  
Luxury Brands ◽  
Luxury Brand ◽  
Value Perceptions ◽  
Brand Marketing ◽  
Brand Values ◽  
Goods Market ◽  
Perception Model ◽  
Brand Perception ◽  
Market Strategies

The luxury goods market is undergoing dramatic changes due to the fact that vast numbers of new consumers are gaining access to goods previously regarded as unobtainable. As a result, luxury is losing its elitist and exclusive character. The aim of this paper is to explore the changes in luxury brand marketing and to introduce the emergence of a new branding philosophy – Mass Prestige brands. The concept of Mass Prestige brands emerged as a response to luxury losing its elitist character, and it was intended to combine elements of luxury brand values perception with mass-market strategies. The key question of the discussion presented in this article is whether the values included in the luxury brand perception model fit Mass Prestige brand value perceptions, and if so, to what extent. Personal (“luxury for oneself”) and social (“luxury for others”) value dimensions of luxury brands were taken into consideration and confronted with the principles of Mass Prestige strategies. As a result, a modified version of the model was proposed that includes only the elements that are relevant to the buying motives of newly rich consumers seeking Mass Prestige brands.

Perceptions And Attitudes Towards Luxury Brand Products

GIS Business ◽  
2019 ◽  
Vol 14 (5) ◽  
pp. 45-53
Author(s):  
R. SATHYADEVI ◽  
R. ASWINI
Keyword(s):  
Luxury Brands ◽  
Related Factors ◽  
Luxury Goods ◽  
Luxury Brand ◽  
Perceptions And Attitudes ◽  
Actual Growth ◽  
Luxury Products ◽  
The Rich ◽  
Luxury Market ◽  
And Behavior

As consumers satisfy their feelings of pleasure and gratification through the luxury goods, the available luxury products will also continue to enhance its charm for consumers. The rich have no more a monopoly on the luxury goods. One of the most important factors leading to the actual growth of the luxury market is the introduction of luxury goods to the middle and upper-middle class. The present study attempted to analysis the knowledge, affection and behavior related discernment of the consumers on the luxury products.  For obtaining the objectives, the study adopted questionnaire to collect the data from the customers. The study collected data from the customer, who visiting the shopping malls for buying the luxury brand products. T  Test used to present the collected opinion of the consumers.  The study highlighted that most of consumers are depend with affect related factors to luxury brands compared with knowledge and behavior based factors.

The Impact of Lifestyle and Attitude Functions on Luxury Goods on Emotional Attachment Towards Luxury Brands

2017 ◽  
Vol 7 (2) ◽  
pp. 21-40
Author(s):  
Mohammad Kashani ◽  
Alireza Aslani ◽  
Mohammad R. Esfidani ◽  
Seyed Reza Seyed Javadin
Keyword(s):  
Social Status ◽  
Age Groups ◽  
Emotional Attachment ◽  
Luxury Brands ◽  
Luxury Goods ◽  
Luxury Brand ◽  
Luxury Products ◽  
The Impact ◽  
The Relationship

The purpose of this article is to investigate the effect of individuals' life on the consumers' emotional attachment to the luxury products. The mediation role of individuals' attitudes has been investigated for the relationship between lifestyle and emotional attachment. First, the respondents have been divided into four categories that relate to their lifestyle - concerning their income and desire for social status. Then, the authors deal with the investigation of lifestyle effect on the emotional attachment to the luxury products. The attitude of different age groups has been investigated by the mediation role of the lifestyle and emotional attachment. Finally, elements have been investigated including the accurate recognition of brand by the aristocratic class, communicative and non-communicative motives in different lifestyles, and the relation between price and brand prominence. The findings show that the individual's lifestyle influences on the emotional attachment to the luxury products, as well as the existing attitudes in different age groups mediate the relation between lifestyle and emotional attachment to the luxury brand. The aristocratic class accurately recognise the signs of luxury brands. Also, the motives of communicative and non-communicative individuals are expressed in a variety of styles. Finally, a connection between price and brand prominence is discussed.

Why Luxury Brands Partner with Artists

2020 ◽  
Author(s):  
Annamma Joy ◽  
Russell W. Belk
Keyword(s):  
Historical Overview ◽  
Luxury Brands ◽  
Future Directions ◽  
Luxury Brand ◽  
Brand Marketing ◽  
The World ◽  
Varied Range ◽  
Fashion Designers

This chapter studies why luxury brands partner with artists through an historical overview of such alliances and a case study of Louis Vuitton, which has collaborated with an unusually varied range of artists. Fewer media have been offered a more effective fit with the world of luxury-brand marketing than synergistic partnerships with artists. The artists gain increased exposure and, should they wish, a market-blessed legitimacy; the brand benefits from a perception of épater la bourgeois legitimacy—and thus authenticity—through its alliances with street-wise avatars of youth, rebellion, and cutting-edge modernism. Additionally, the chapter discusses the appropriation of luxury-brand artisanship, styles, and logos by street fashion designers and artists; participating in partnerships with the brands themselves; and spurring the rise of diversity within the industry. Further, it explores the concept of artification and the rise of luxury-brand museums. In closing, the chapter addresses potential future directions for partnerships between luxury brands and artists, taking into account the evolving role of luxury fashion in today’s new brand of artist, the multihyphenated megacelebrity.

Russian Banking Sector under World Financial Market Uncertainty: Problems and Prospects

2008 ◽  
pp. 4-19 ◽  
Author(s):  
A. Ulyukaev ◽  
E. Danilova
Keyword(s):  
Emerging Markets ◽  
Financial Market ◽  
Banking Sector ◽  
Financial System ◽  
Local Market ◽  
Market Uncertainty ◽  
Balanced Growth ◽  
Banking Sector Development ◽  
The World ◽  
The Usa

The authors point out that the local market crisis - on the USA substandard loan market - has led to the uncertainty of the world financial market. It has caused the growing demand for liquidity in the framework of the world financial system. The Russian banking sector seems to be more stable under negative changes than banking systems of other emerging markets. At the same time one can assume that the crisis will become the factor of qualitative shift in the character of the Russian banking sector development - the shift from impetuous to more balanced growth.

The Oxford Handbook of Management in Emerging Markets

2018 ◽  
Keyword(s):  
Emerging Markets ◽  
Coming Out ◽  
Global Economy ◽  
Primary Source ◽  
Production Networks ◽  
Global Knowledge ◽  
Business Systems ◽  
Competitive Strategies ◽  
Fundamental Building Block ◽  
The World

Emerging Markets are the primary source of growth for business in the 21st century. This makes an understanding of managing businesses in emerging markets a fundamental building block for competing in today's global economy. This book's approach is to identify key elements of the business systems and competition in emerging markets around the world, and then to look at competitive strategies of local and multinational companies going into and coming out of these countries. Specific focus is offered on a selection of countries/regions. These emphases should serve both researchers and managers interested in knowing more about managing firms in emerging markets in general and in specific countries in particular. The essays highlight the tension between local and global knowledge, that is, views of business that apply everywhere around the world versus views that are particular to emerging markets. The essays also explore the role of local and international firms operating in emerging markets within global value chains or production networks.

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