Abstract
Conspicuous consumption is a fairly universal phenomenon although possibly more pervasive in developed countries. It can be said, conspicuous consumption is more common in some cultures that have a tendency to materialism. Every country in terms of political, technological, cultural and economic environment is different. This paper deepens understanding of why consumers are willing to buy the luxury high end, automobiles provide. The head of the country of origin influences evaluations of how people tend to buy luxury automobiles are used and which of the demographic factors have most influenced the understanding of the luxury brand. The populations of this study are the owners of the automobiles Toyota, Hyundai and Kia Motors in Tehran. A comparison was made between German made Mercedes Benz and Japanese made Lexus luxury automobiles brands. The final sample consists of a total of 390 participants. Data analysis is used in structural equation modeling. The findings show that variables of hedonic, unique, and quality value are significantly higher than conspicuous and social values. They have more of a role in forming of luxury brand perception in Iranian consumers. This study is useful for marketers to understand their target market and how their customers evaluate products and make buying decisions. The five perceived values of luxury automobiles can be used as guidelines for salesmen to sell successfully to customers. Key words: Luxury brand perception, conspicuous value, uniqueness value, social value, hedonic value, quality value, brand preference, purchase intention, country of origin, demographic factors.
Highlights
Veblan (1912) states that conspicuous consumption refers to the ostentatious display of wealth for the purpose of acquiring or maintaining status or prestige
They have more of a role in forming of luxury brand perception in Iranian consumers
We surveyed the relationship between demographic factors on luxury brand perception and relationship between brand perceptions on the purchase intention
Summary
Veblan (1912) states that conspicuous consumption refers to the ostentatious display of wealth for the purpose of acquiring or maintaining status or prestige. The desire to conspicuously consume dates back to tribal times when men possessed women and slaves as trophies of their status. The players and what is consumed have changed, the game of ostentatious ownership has remained essentially the same, with the winners being especially important to the study of the history of consumption because they play such an important role in the growth of a consumer society" (Page, 1992). The luxury brands industry is unique and different from other industries. The luxury market in Iran has grown quickly in recent years. There is a young population in Iran, making it an attractive market for many foreign companies.
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
