Consumer Perceptions of Luxury Brands: A Review of Psychological Motivators Influencing Purchase Decisions
Pappinen, Anna (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-202504257699
https://urn.fi/URN:NBN:fi:amk-202504257699
Tiivistelmä
This research investigates the intricate interplay between consumer psychology and luxury brand consumption, aiming to shed light on the motivations driving consumer behavior in the luxury goods market. Drawing upon a comprehensive literature review, the study delves into the factors influencing consumer perceptions, attitudes, and purchasing decisions within the realm of luxury consumption.
The research explores the multifaceted nature of luxury consumption, considering elements such as social status, brand identity, hedonistic urges, and socio-psychological influences. Through qualitative analysis, the study examines the role of personal values, self-esteem, brand consciousness, and social comparison in shaping consumer preferences for luxury goods.
Furthermore, the study investigates the impact of demographic characteristics, cultural influences, and marketing strategies on consumer behavior in the luxury market. It also examines the phenomenon of counterfeit products and its implications for consumer trust and brand loyalty.
The findings of this research contribute to a deeper understanding of consumer behavior in the luxury goods market, offering insights that can inform marketing strategies, brand management practices, and consumer engagement initiatives within the luxury industry. By investigating the psychological drivers behind luxury brand consumption, this study provides valuable implications for businesses seeking to effectively navigate the complexities of the luxury market landscape.
The research explores the multifaceted nature of luxury consumption, considering elements such as social status, brand identity, hedonistic urges, and socio-psychological influences. Through qualitative analysis, the study examines the role of personal values, self-esteem, brand consciousness, and social comparison in shaping consumer preferences for luxury goods.
Furthermore, the study investigates the impact of demographic characteristics, cultural influences, and marketing strategies on consumer behavior in the luxury market. It also examines the phenomenon of counterfeit products and its implications for consumer trust and brand loyalty.
The findings of this research contribute to a deeper understanding of consumer behavior in the luxury goods market, offering insights that can inform marketing strategies, brand management practices, and consumer engagement initiatives within the luxury industry. By investigating the psychological drivers behind luxury brand consumption, this study provides valuable implications for businesses seeking to effectively navigate the complexities of the luxury market landscape.