Abstract
Journal of Business & Technology (JBT) is an open-access journal published by the Department of the Commerce and Financial Management of the University of Kelaniya, Sri Lanka. The journal follows a double-blind peer-review process and is published bi-annually (January, July). JBT aims to publish scholarly research, critical reviews, case studies, practitioner reviews and technology reviews in the fields of business and technology.
Highlights
Consumer behavior dynamics vary from country to country and culture to culture
Descriptive statistics were calculated to measure the degree of personal cultural orientation, brand association and conspicuous consumption in the given research context
According to the reliability statistics given in the table 1, the reliabilities of all scales are found to be adequate since Cronbach’s Alpha values are higher than 0.7
Summary
Many luxury products are the same in Asian and Western societies, consumers in said societies might not buy these products for 48 | P a g e the same reasons (Wong and Ahuvia,1998) If this is the case the question does arise whether it is reasonable to apply theories and concepts tested in other countries and cultures to Sri Lankan perspective, given the fact that Sri Lanka is different from other countries in the Asian region with higher socio-economic levels and having different ethnic groups. According to Wiedmann & Hennigs, (2013) strong cross-cultural differences come into focus when evaluating the varied dimensions of luxury through different adjectives. The values of luxury consist of luxury for the self and luxury for others (social identity) (Kapferer & ValetteFlorence, 2018) and exclusivity to differentiate oneself from others (Roux et al, 2017)
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