TAILIEUCHUNG - Measuring Consumers’ Luxury Value Perception: A Cross-Cultural Framework

While the consumption of prestige or status products involves purchasing a higher-priced product to embellish one‘s ego (Eastman et al. 1997), the term ―luxury‖ and the consumption of luxury goods involves purchasing a product that represents value to both, to the individual and their reference group. Therefore, in addition to the socially oriented luxury brand consumption and the human desire ‗to impress others‘, a personally oriented type of consumption should be considered in the marketing management of luxury brands. Referring to personal and interpersonal oriented perceptions of luxury, it is expected that different sets of consumers would have. | Wiedmann Hennigs Siebels Measuring Consumers Luxury Value Perception A Cross-Cultural Framework Measuring Consumers Luxury Value Perception A Cross-Cultural Framework Klaus-Peter Wiedmann Institute of Marketing and Management Leibniz University of Hanover Nadine Hennigs Institute of Marketing and Management Leibniz University of Hanover Astrid Siebels Institute of Marketing and Management Leibniz University of Hanover Klaus-Peter Wiedmann is Chair of the Marketing Department and a Professor of Marketing Nadine Hennigs and Astrid Siebels are Research Assistants at the Institute of Marketing and Management Leibniz University of Hanover Germany. Correspondence concerning this article should be addressed to Professor Klaus-Peter Wiedmann Institute of Marketing and Management Leibniz University of Hanover Koenigsworther Platz 1 30167 Hanover Germany Phone 49 511 762 4862 Fax 49 511 762 3142 Email wiedmann@. The authors would like to express their gratitude for the thorough helpful and encouraging comments of the Special Issue Editor John B. Ford and the anonymous reviewers. This article is part of a special issue on Cross-Cultural Issues in Marketing Research edited by John B. Ford. EXECUTIVE SUMMARY In view of the dynamic growth in the luxury market and the availability of luxury goods to a wider range of consumers than ever before the luxury market has transformed from its traditional conspicuous consumption model to a new experiential luxury sensibility marked by a change in the way consumers define luxury. In a global context it is critically important for luxury researchers and marketers to understand why consumers buy luxury what they believe luxury is and how their perception of luxury value impacts their buying behavior. The main contribution of the present paper is to develop an integrated conceptual framework of consumers luxury value perception for researchers and marketers of luxury goods who may wish to measure the dimensions of individual

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