What is the Value of Luxury? A Cross-Cultural Consumer Perspective

ABSTRACT International luxury businesses are challenged by the identification and satisfaction of the common needs and desires of global market segments. Although luxury goods have become available to a wider range of consumers, the traditional conspicuous consumption model has been transformed into...

Full description

Saved in:
Bibliographic Details
Published in:Psychology & marketing Vol. 29; no. 12; pp. 1018 - 1034
Main Authors: Hennigs, Nadine, Wiedmann, Klaus-Peter, Klarmann, Christiane, Strehlau, Suzane, Godey, Bruno, Pederzoli, Daniele, Neulinger, Agnes, Dave, Kartik, Aiello, Gaetano, Donvito, Raffaele, Taro, Koyama, Táborecká-Petrovičová, Janka, Santos, Carmen Rodríguez, Jung, Jaehee, Oh, Hyunjoo
Format: Journal Article
Language:English
Published: Hoboken Blackwell Publishing Ltd 01.12.2012
Wiley
Wiley Periodicals Inc
Subjects:
Amerika
Asien
Brand equity
Business administration
Consumers
Consumption
Cross cultural studies
Europa
Humanities and Social Sciences
International markets
Internationale Marktsegmentierung
Konsumentenverhalten
Kulturelle Identität
Luxuries
Luxusgüter
Markenimage
Market segments
ISSN:0742-6046, 1520-6793
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:ABSTRACT International luxury businesses are challenged by the identification and satisfaction of the common needs and desires of global market segments. Although luxury goods have become available to a wider range of consumers, the traditional conspicuous consumption model has been transformed into a new experiential luxury sensibility that is marked by a change in the way that consumers define luxury. Based on an empirical study in collaboration with American, European, and Asian researchers, the results provide evidence that consumers in various parts of the world purchase or wish to purchase luxury products for varied reasons but that such consumers generally possess similar values. Regardless of their countries of origin, the basic motivational drivers of luxury consumers are similar among the financial, functional, personal, and social dimensions of luxury value perceptions, although the relative importance of these dimensions varies.
Bibliography:ark:/67375/WNG-57GTSX97-6
istex:1CDCDDA93D05AA4D744552424DFC5740141D5A38
ArticleID:MAR20583
SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 14
ISSN:0742-6046
1520-6793
DOI:10.1002/mar.20583