Improving Consumers Purchase Intention through Establishing Brand Story- The Moderating Role of Consumer Perceived Functional Value

Abstract

How to expand market share and improve consumers willingness to buy products through effective marketing methods is perplexing the companies in luxury industry since most of them are confronted with tremendous competitive pressure. As a new marketing method in recent years, brand stories are incorporated into marketing strategies by a large number of companies. On this basis, this paper adopts the Stimuli-Organism-Response theoretical model, consumer behavior theory and attribute theory, and investigates whether brand story can promote consumers' purchase intention. Furthermore, it also explores the mediating role of consumers' brand identity and the moderating role of consumers' perceived value. Through empirical analysis, the results show that:(1) brand stories can improve consumers' purchase intention; (2) Brand stories promote consumers' purchase intention by improving their sense of personal brand identity; (3) Customers' perceived functional value play can moderate the influence of brand stories on improving consumers' purchase intention. Based on the empirical analysis results, this paper proposes that the luxury industry should focus on the role of brand stories in marketing, and pay attention to the value that products can bring to consumers. In addition, theoretical and practical significance are also further discussed in this paper.