Branding Absolute Luxury: Influence of Cues, Consumer Involvement and Knowledge on Price

Date
2016-11-08
Authors
Bhaduri, Gargi
Stanforth, Nancy
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Abstract

The study investigated the effect of product description cues as a way to differentiate luxury products for the absolute luxury consumer and the effect of individual traits such as need for product involvement and product knowledge on consumers' perceptions of expected price. An adult sample of 253 female US consumers were recruited for an online survey. The study results revealed that all product descriptor cues positively impacted consumers' perceived prices of products. Clothing involvement was positively related to participants' product knowledge which in turn positively influenced participants' perceived change in expected price of products in response to various product descriptors or cues related to absolute luxury products. This study extends the research into the luxury market and identifies elements of the marketing mix which might be manipulated to better inform potential customers about the luxury product. The study further emphasizes that product descriptors or cues can have an impact on price judgments, especially for highly involved and knowledgeable consumers. This is especially important to academicians as well as marketers since high fashion involved consumers have often been seen as drivers, influential and legitimists of the fashion adoption process.

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