Is defined as the act of seeing luxury being an equal definition to beauty, like an art but one that comes with functional value, which can be enlightening. Luxury items are able to flatter all senses and provide pleasure all at once. Luxury is also seen as an appendage of the ruling classes.
Published in Chapter:
The Effect of Social Media Marketing on Luxury Brand Purchase Intention
Wenyi Leong (Anglia Ruskin University, UK), Omkar Dastane (UCSI Graduate Business School, UCSI University, Malaysia), and Herman Fassou Haba (Université du Québec à Trois-Rivières, Canada)
Copyright: © 2022|Pages: 21
DOI: 10.4018/978-1-6684-3430-7.ch014
Abstract
This research-based chapter investigates the impact of social media marketing on consumers' online purchase intention in the context of luxury brands. Against the theory of planned behavior, theory of reasoned action, and social exchange theory, a conceptual framework was constructed with social media marketing as an independent variable, luxury perception as mediator, and online purchase intention as the dependent variable. This study employed an explanatory research and quantitative method. Empirical data was collected using self-administered online questionnaire and data was collected from sample of 211 Malaysian online shoppers of luxury brands using snowball sampling. The collected data was subjected to normality and reliability assessment followed by confirmatory factor analysis (CFA), validity assessment, and structural equation modelling (SEM) using AMOS 24. Findings suggests that social media marketing positively influences online purchase intention, and luxury brand perception mediates this relationship.
FAQs
In particular, luxury goods are generally considered to be of social prestige by social-oriented consumers. Consumers believe that the more expensive a luxury item is, the more valuable it is and the more worthwhile it is to buy (Hennigs et al., 2013).
What is global luxury brand management? ›
The BBA program in Global Luxury Brand Management combines the face-to-face and contemporary learning methods. The curriculum blends the realms of luxury business and experiences, encompassing core principles of management, comprehension of luxury brands, and effective merchandising for luxury retail and buying.
What are the three levels of luxury? ›
Though it might not be tangible, there is a concept that has been floating around in the luxury industry for quite some time, stating that there are three distinct levels of luxury: accessible. intermediate. inaccessible.
What is the concept of brand perception? ›
Brand perception is what customers believe a product or service represents, not what the company owning the brand says it does. Brand perception comes from customer use, experience, functionality, reputation and word of mouth recommendation - on social media channels as well as face to face.
Why do the poor buy luxury items? ›
People buy luxury goods despite not being able to afford them for several reasons, including a sense of irrationality, a belief that a higher price equals higher quality, a desire for higher self-esteem, and a desire for a sense of accomplishment.
What are the luxury personality traits? ›
Results suggest that there exist five distinct luxury personality dimensions including tradition, modesty, elitism, eccentricity and sensuality.
Is doing luxury brand management worth it? ›
With an MBA in luxury brand management, you are most likely to land with high end brands. This course is targeted to build strategic brand managers and it opens up gates leading to various sectors of the luxury industry besides just fashion.
How do I become a global luxury agent? ›
*To become a Luxury Property Specialist, affiliated sales associates must attend the Coldwell Banker Global Luxury® program certification course and apply for the designation with documentation showing they have three (3) qualifying transactions in a 24-month period, the earliest of which must be within three years of ...
How do I get into luxury brand management? ›
To become a luxury brand manager, it is mandatory to follow a specialized training in the luxury field. Moreover, as a general rule, the position is only open to holders of a minimum of 5 years of higher education. This type of training is mainly offered by business schools, fashion schools or marketing schools.
What are the 4 P's of luxury brands? ›
Below is an outline of the 4 P's (product, price, place and promotion) of luxury marketing, as well as an explanation on how each element contributes to an overall image of prestige that luxury brands often strive to portray. Luxury products are the epitome of craftsmanship, quality, and exclusivity.
Luxury & Premium 2024 Ranking
| 2024 | 2023 | Name |
|---|
| 1 | 1 | Porsche |
| 2 | 2 | Louis Vuitton |
| 3 | 3 | Chanel |
| 4 | 5 | Hermès |
6 more rowsThere are different types of luxury things like a private yacht, jewelry, designer handbags, exclusive fashion apparel, high-end automobile, premier watches, etc. It is sensitive to a person's remuneration. Any increase or decline in personal income impacts its market demand.
How to test brand perception? ›
Monitoring website traffic, bounce rates, and engagement metrics can give you an idea of how customers perceive your brand online. You can use tools like Google Analytics to track these metrics and make data-driven decisions to improve your website and overall brand perception.
How to influence brand perception? ›
The brand's perception among its intended audience, comprising current and potential customers, is influenced by:
- Word-of-mouth.
- Advertising.
- Media coverage.
- Social media.
- Reviews.
- Interactions with customer service.
- Quality of products and services received.
Is brand perception solely based on visual elements? No, brand perception is shaped by a combination of visual elements, communication tone, customer experiences, and societal impact.
What is the feeling of luxury? ›
Luxury as self-expression:
It's a means of expressing identity, taste and individuality. Owning some of these products can engender personal pride and boost self-esteem. The emotions that accompany the customer experience go beyond the simple satisfaction of owning a precious object.
What is the concept of luxury? ›
luxury, word that implies a relatively large consumption of wealth for nonessential pleasures. There is, however, no absolute definition of luxury, for the conception is relative to both time and person.
What is the sense of luxurious? ›
luxurious suggests the indulgence of sensuous pleasure inducing bodily ease and languor. voluptuous implies more strongly an abandonment especially to sensual pleasure.
How does luxury make people feel? ›
“For many consumers, luxury items serve as symbols of status. They indicate that the person using or wearing luxury goods has achieved high success. Many people strive to reach this level of status and feel more confident about themselves when they can buy and use luxury goods,” explains Valk.
