The Concept of Luxury Brands and the Relationship Between Consumer and Luxury Brands

Kip Becker, Jung Wan Lee, Helena M. Nobre / Journal of Asian Finance, Economics and Business Vol 5 No 3 (2018) 51-63

14 Pages Posted: 10 Oct 2018

See all articles by Kip Becker

Kip Becker

Boston University - Department of Administrative Sciences

Jung Wan Lee

Boston University - Department of Administrative Sciences

Helena M. Nobre

University of Aveiro - DEGEIT, GOVCOPP

Date Written: July 30, 2018

Abstract

The study aims to articulate a definition of luxury brands, to propose a framework for consumer luxury brand relationships and to provide empirical evidence of the proposed model. The study conducted two surveys in Portugal and the United States in 2009 and 2013 for selected luxury brands. The study employs factor analysis and structural equation modelling techniques to test the hypotheses. The study finds a link between luxury products and consumer’s psychological association represents in a hierarchical order of: cognitive attributes at its base level, extrinsic attributes on a secondary level and intrinsic attributes at the advance level. The findings suggest a concept for luxury brands from three dimensions of: luxury product characteristics, consumer’s psychological characteristics, and consumer’s psychological association with the luxury product. The research was conducted in Portugal and the United States so that there is always a potential criticism concerning the ability to generalize research results to a broader international population. The findings provide a holistic perspective in the understanding of luxury brand constructs and a definition of luxury brands in the way why consumers involve symbolic consumption. The successful application of the findings in a brand setting would be of particular interest to marketers and brand strategists.

Keywords: Luxury Brand, Luxury Product, Brand Personality, Consumer Behavior, Brand Strategy

JEL Classification: M11, M31, M37

Suggested Citation

Becker, Kip and Lee, Jung Wan and Nobre, Helena M., The Concept of Luxury Brands and the Relationship Between Consumer and Luxury Brands (July 30, 2018). Kip Becker, Jung Wan Lee, Helena M. Nobre / Journal of Asian Finance, Economics and Business Vol 5 No 3 (2018) 51-63 . Available at SSRN: https://ssrn.com/abstract=3250138

Kip Becker

Boston University - Department of Administrative Sciences ( email )

United States

Jung Wan Lee (Contact Author)

Boston University - Department of Administrative Sciences ( email )

808 Commonwealth Avenue
Boston, MA 02215
United States
617 358 5627 (Phone)
617 353 6840 (Fax)

HOME PAGE: http://www.bu.edu/met

Helena M. Nobre

University of Aveiro - DEGEIT, GOVCOPP ( email )

Campus Universitário de Santiago
Aveiro, 3810-193
Portugal

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