An Empirical Investigation to the Factors Influencing Buying Decision of Luxury Goods PDF Download
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Author: Nawaz Ahmad
Publisher:
ISBN:
Category :
Languages : en
Pages : 11
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Book Description
This study aims to explore the main reasons of consumption of luxury branded goods. The research also gives an insight upon the main motivational values towards purchasing luxury branded products. The method chosen for analyzing the raw data collected through offline and online questionnaire survey, through snowball sampling technique, was quantitative models namely descriptive statistics and one way ANOVA, that was run through the help of SPSS. The study analyzes the four major motivational values, which motivate people to purchase and consume luxury branded goods, namely; personal values, functional values, individual values and social values. As a result, we find out that functional values were the most significant motivator in purchase decision-making followed by personal values, individual values and social values respectively. One-way ANOVA analysis interprets that four of these values are significant in term of decision-making process while purchasing luxury branded goods. Post Hoc tests showed us the relationship between these values. The social values and fundamental values were highly significant in all the purchase decisions criteria.
Author: Nawaz Ahmad
Publisher:
ISBN:
Category :
Languages : en
Pages : 11
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Book Description
This study aims to explore the main reasons of consumption of luxury branded goods. The research also gives an insight upon the main motivational values towards purchasing luxury branded products. The method chosen for analyzing the raw data collected through offline and online questionnaire survey, through snowball sampling technique, was quantitative models namely descriptive statistics and one way ANOVA, that was run through the help of SPSS. The study analyzes the four major motivational values, which motivate people to purchase and consume luxury branded goods, namely; personal values, functional values, individual values and social values. As a result, we find out that functional values were the most significant motivator in purchase decision-making followed by personal values, individual values and social values respectively. One-way ANOVA analysis interprets that four of these values are significant in term of decision-making process while purchasing luxury branded goods. Post Hoc tests showed us the relationship between these values. The social values and fundamental values were highly significant in all the purchase decisions criteria.
Author: Sandeep Bhanot
Publisher: Archers & Elevators Publishing House
ISBN: 9388805771
Category : Antiques & Collectibles
Languages : en
Pages :
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Book Description
Author: Klaus-Peter Wiedmann
Publisher: Springer Science & Business Media
ISBN: 3834943991
Category : Business & Economics
Languages : en
Pages : 387
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Book Description
The luxury market has transformed from its traditional conspicuous consumption model to a new experiential luxury sensibility that is marked by a change in how consumers define luxury. In a global context, it is crucial to understand why consumers buy luxury, what they believe luxury is, and how their perception of luxury value impacts their buying behavior. This handbook aims to provide a holistic approach to luxury marketing with respect to the characteristics and the key challenges and opportunities of luxury brand management. Therefore, the multifaceted contributions by authors from different parts of the world will offer both a research and management perspective of luxury marketing and deliver a concentrated body of knowledge with contributions from diverse elements.
Author: Fanny-Gabriela Kozicki
Publisher: GRIN Verlag
ISBN: 3656146705
Category : Business & Economics
Languages : en
Pages : 105
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Book Description
Master's Thesis from the year 2012 in the subject Communications - Public Relations, Advertising, Marketing, Social Media, Tongji University (College of Arts & Communications), course: Master in Communication, language: English, abstract: In recent years, China's Automotive Market has grown tremendously and reached the goal to be the worlds biggest. With the increase of automotive competitors, not only from local but also foreign organizations, a car brand needs to understand its audience well in order to apply its marketing communication strategies. In other words, apply the correct messages and related media to communicate with the targeted Chinese consumers successfully. China has currently 1.3billion individual consumers on the market, out of which over 350 are USD Billionaires and 500 million are below age 30. These two distinctive statistics of the consumer market are specifically pointed out, as they are the key to acknowledging that the consumers in China are changing. Recent studies have shown that the purchasing criteria, decision making process and used communication channels are quite different of the younger consumers than those of the 'lost generation' who acquired sudden wealth after the Cultural Revolution. Though, the newly rich, now in their 50's, are still the main target group of luxury brands in China, a good marketer always has to be able to predict future developments. With the modernization of the Chinese society, the costumers who will inherit the fortunes of the "lost generation" and rise in line with the rise of the countries economy is namely Generation Y. Who are these successors of the post-revolution newly rich consumers and how do we communicate a product to them successfully? On the basis of my unquestionable fascination by China's Automotive Market and German Luxury car brands, I will pursue to answer the above question in order to give an overview for a marketer as to how successfully communicate a car to Chinese Generation
Author: Fanny-Gabriela Kozicki
Publisher: GRIN Verlag
ISBN: 3656146470
Category : Business & Economics
Languages : en
Pages : 101
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Book Description
Master's Thesis from the year 2012 in the subject Communications - Public Relations, Advertising, Marketing, Social Media, Tongji University (College of Arts & Communications), course: Master in Communication, language: English, abstract: In recent years, China’s Automotive Market has grown tremendously and reached the goal to be the worlds biggest. With the increase of automotive competitors, not only from local but also foreign organizations, a car brand needs to understand its audience well in order to apply its marketing communication strategies. In other words, apply the correct messages and related media to communicate with the targeted Chinese consumers successfully. China has currently 1.3billion individual consumers on the market, out of which over 350 are USD Billionaires and 500 million are below age 30. These two distinctive statistics of the consumer market are specifically pointed out, as they are the key to acknowledging that the consumers in China are changing. Recent studies have shown that the purchasing criteria, decision making process and used communication channels are quite different of the younger consumers than those of the ‘lost generation’ who acquired sudden wealth after the Cultural Revolution. Though, the newly rich, now in their 50’s, are still the main target group of luxury brands in China, a good marketer always has to be able to predict future developments. With the modernization of the Chinese society, the costumers who will inherit the fortunes of the “lost generation” and rise in line with the rise of the countries economy is namely Generation Y. Who are these successors of the post-revolution newly rich consumers and how do we communicate a product to them successfully? On the basis of my unquestionable fascination by China’s Automotive Market and German Luxury car brands, I will pursue to answer the above question in order to give an overview for a marketer as to how successfully communicate a car to Chinese Generation Y consumer. Due to research in this field still being at an embryonic stage I will personally carry out an empirical investigation and outline who this consumer is, how they process information, their usage of mass and personal communication and acknowledge their attitude towards German luxury car brands. Finally, on the basis of the research findings I will define Chinese Generation Y car purchasing behavior and create a marketing communication strategy for a German Luxury car brand in China wishing to engage with the consumer in question.
Author: NITIN SABLOAK (TP051885)
Publisher:
ISBN:
Category : Brand name products
Languages : en
Pages : 96
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Book Description
This paper examined some of the key antecedents that drive purchase intention of online luxury fashion goods in Jakarta. E-commerce in Indonesia is currently growing twice as fast as fragmented trade, forcing many of Indonesian company to turn to the e-commerce model. However, past literature on online purchase intention is mostly focused on answering factors relating to online shopping in general, not to specific kind of luxury product. And with the luxury goods sales in Indonesia have move significant with the growth by 84 percent and become Asia's most massive online luxury goods sales growth (Rahmiasri, 2016) there is a shortage of research on the purchase intention of online luxury fashion goods. The present study attempts to fill the research gap by focusing on factors that influence consumers online purchase behavior for luxury fashion goods in Jakarta, Indonesia. In addition to investigate whether there is a significant difference between generation x and generation y consumers' intention to purchase for online luxury fashion goods in Jakarta, Indonesia. This was quantitative research and using a survey method; data was collected from 216 online consumers in Jakarta, Indonesia. SPSS was used to analyze the data and justify the relationship between independent variables and dependent variable. The findings revealed that brand consciousness and ease of use have a significant impact on online purchase intention of luxury fashion goods. However, no significant relationship exists between website quality and purchase intention of online luxury fashion goods. Besides, there is no significant difference between Generation X and Generation Y consumers' intention to purchase for online luxury fashion goods. The findings supported the results from some earlier studies and brought out several new ideas such as the importance of factors which results in consumers purchase intention. The findings provide theoretical and practical implications for marketers and policy makers, to recognize the importance of knowing customer online purchase intention particularly for online luxury fashion goods. Results of this study provides valuable insights for creating effective branding and advertising strategy in e-commerce in order to influence consumer online purchase behavior towards luxury fashion goods to capture the opportunity of the growth in e-commerce.
Author: Jennifer Deerman
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Luxury and premium brand affiliation have been and likely always will be about quality and status. Extant studies in marketing consumer behavior aim to explain the effects of hedonic drivers and how these shape consumer behavioral choices when choosing a brand. A consumer's subconscious hedonic motivations are thought to result in buying decisions. Their purchase decision may thus satisfy their emotional needs as explained in hedonic theory. With respect to the distinction between tangible products as "goods" and intangible products as "services," it appears that luxury branding has always been seen as one characteristic of goods. Many consumers will purchase a luxury brand good for the pleasure of holding that good and the social status that it represents. But luxury branding in the service industry is a bit harder to grasp. Little research exists dealing with luxury branding in the service industry and, especially, in the real estate industry. Using this contradistinction once again, a luxury consumer will purchase either a good or service. A good is tangible and may be held by the consumer indefinitely, but a service is generally time restricted and might only be a one-time purchase transaction. To probe this issue in greater depth, luxury retail marketing research and consumer behavior will inform this study. Luxury branding, that is, perceived value versus actual value in real estate sales, will be analyzed. In that the real estate industry is specifically characterized by brokers at many brand levels, this study uses this characterization of brand level to determine if luxury branding of real estate brokers impact homes sale price (and/or other components of value) by returning a premium to one or more stakeholders in the value chain. With little extant literature in the luxury branding service sector and residential real estate brokerage activities, this research, in particular, considers empirical results from previous real estate and luxury branding research in other markets to set forth a framework for brokerage branding level in real estate. The resulting framework categorizes this as real estate brokerage firm "level," typing brand into three levels based on service and price (for the purposes of the current work, the delineation will be binary, that is to say, either luxury brand representation or not). These brokerage brand levels are: (1) low, i.e., flat fee or discount firms; (2) middle, i.e., traditional, commission-based firms; and (3) high, i.e., luxury brokerage firms. Each category appeals to a different social class of consumers in that purchasing power is highly related to home listing and final sales pricing. Given that all firms have the same resources available for listing, marketing, and syndicating a home on the market, consumer perception, which is a key component in the branding research, also becomes central in the current study when considering residential real estate brokerage and brand levels, when studying the luxury home market and the high-end brokerage firms targeting the luxury class, an interesting question arises: Do these brokers add value? Or is it an inaccurate, but common perception? These questions are addressed in the research by analyzing the marketing characteristic of luxury real estate brokerage branding in one particular market in the Dallas-Fort Worth region of the US. Specifically it asks whether branding impacts a home's value. The study follows prior scholarly suggestions to derive quality and comparable data and to focus on geographically targeted luxury real estate markets. The research builds on prior research frameworks exploring the hedonic pricing model, an established research stream that has looked into the effect of home hedonic characteristics on its ultimate valuing. To date, little research has been conducted analyzing the impact of market branding on the final sales price of a home and other features of perceived value. In the empirical results of Study 1 and Study 2 of stable, affluent communities in the Dallas-Fort Worth area of the US, we analyze the outcome of the two studies indicate that buyers may not perceive a high value related to the brand of the listing and/or selling broker. This may appear to counter the general marketing branding literature, but the strength of brand in goods could be quite different than the strength of brand in services such as real estate and we formulate null hypotheses to test this possibility. Brand loyalty to a class of brokers, for example, could be less likely given that most buyers only engage in home buying on an infrequent basis. Indeed, in the two studies conducted, the hedonic factors are overwhelmingly powerful predictors of value and these hedonic and tangible physical characteristics of a home could well be responsible for allaying or undermining any real effect of brand. This research consists of two studies conducted separately in different locations of a single county within the Dallas-Fort Worth Texas area. By studying two separate but similar communities in the same geographical area, external validity was thus enhanced, assuring that the results here were not a one-off empirical finding in only one setting. The two studies were coded for brand and hedonics and used as predictors of buyer perceptions of value, as represented in the final, agreed-to sales price and other forms of valuing. Based on the research findings, these two independent studies overall strengthen statistical power and allow for possible generalization to other unstudied populations, which, presumably, would be other real estate markets. Utilizing the current methodological approach, for example, would permit future researchers to see if the findings generalize to communities in other metropolitan areas in the US and beyond. In all such studies, it might be possible that the effect of brand becomes statistically significant, for instance, but this could be, strictly speaking, merely a function of the larger N. In this thesis, however, branding was not statistically significant and, moreover, the branding effect was minimal in terms of explained variance of the DVs such as final sales price. If these finding should hold across settings, the predictive power of brand would continue to have a very small value component and hedonic characteristics would likely dominate, rendering branding to be a far distant, minor effect. The implications of this study can be seen with respect to both academic thinking and practice. There is a theoretical contribution in showing that a brand in real estate may not impact buyer value, admitting the limitation of the dataset having been gathered from one North Texas market. These results run counter to some marketing research to date and certainly contend the thinking of many brokers and home buyers and sellers. Based on the results of this study, branding might be considered in future studies as a control variable that is not expected to affect outcomes to any marked degree. Alternatively, scholars might continue to introduce branding as a direct effect on value and compare their findings to this thesis. Challenges to the hedonic pricing model might also emerge from future empirical results, but, given the persuasiveness of prior studies of the hedonic model in real estate, we expect that such hedonic factors will continue to reign supreme. For practitioners, non-luxury brokers have some evidence that luxury branding of a home might not result in value for the buyer and this could be an effective marketing tool for them (with the caveat that scientific findings thus far are limited to a study drawn only from the Dallas-Fort Worth region). Claims that sellers should choose a luxury brokerage to list their homes may not stand the empirical test of real-world data and analysis and luxury brokers can be cautioned not to overstep in arguing that they can definitely produce economic premiums for sellers. Hedonic characteristics continue to be the most important predictor of home sales prices, as is likely, all brand levels will likely be even better informed of the relative importance of hedonic factors in the presence of branding effects in future studies. By holding brand constant, variance associated with brand can be patriated out and the resultant weights of hedonic factors can be more clearly seen and understood.
Author: Dr. M. Ganesh Babu
Publisher: Archers & Elevators Publishing House
ISBN: 9383241101
Category : Antiques & Collectibles
Languages : en
Pages :
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Book Description
Author: Rodrigues, Paula
Publisher: IGI Global
ISBN: 179984370X
Category : Business & Economics
Languages : en
Pages : 318
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Book Description
Luxury is no longer a privilege of the high-net-worth individuals. It is now accessible to all. This has become possible because the essence of luxury has changed: from something based upon materialism and conspicuous and hedonic consumption to one that embraces enrichment and experiences for the consumers. This evolution creates challenges for luxury brands and for the managers of luxury brands. Building Consumer-Brand Relationship in Luxury Brand Management is a collection of innovative research that focuses on the conception and marketing of luxury as an experience and explores more integrative and comprehensive approaches to modeling and understanding the consumer-brand relationship with luxury brands and their sustainability in a global and multicultural world. Highlighting a broad range of topics including digital marketing, consumer demand, and social responsibility, this book is ideally designed for marketers, brand managers, consumer analysts, advertisers, entrepreneurs, executives, researchers, academicians, and students.
Author: C. Whan Park
Publisher: Now Publishers Inc
ISBN: 1601981007
Category : Business & Economics
Languages : en
Pages : 50
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Book Description
The purpose of this review is to provide an overview of various literatures related to consumer search for information, and its effect on markets. Normative models of consumer search prior to purchase, and of consumer search through experience, are reviewed first. Models of consumer consideration set formation are also outlined. These models are generally based on consumers balancing the costs and benefits of search, which implies that search should be limited if it is costly. The extensive empirical literature on consumer search, which is reviewed next, does indicate that search is limited. The third major section of this review discusses the effect of search on market equilibrium, and market forces related to the supply of information. These include models of how advertising, retailing, and the Internet become organized to facilitate consumer search. The review concludes with a discussion of overall findings and suggestions for further research.
