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Consumer Attitude Towards Luxury Brands an Empirical Study

Added on - 04 Oct 2020

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CONSUMER ATTITUDETOWARDS LUXURYBRANDS: AN EMPIRICALSTUDY
TABLE OF CONTENTSA. Research Title.............................................................................................................................1B. Research Background..................................................................................................................1C. Research Objectives....................................................................................................................1D. Secondary Research....................................................................................................................1Concept of the Luxurious Brands...........................................................................................1Consumer attitude towards luxurious brands.........................................................................2Factors affecting consumer's attitude towards purchasing branded goods and services........2E. Primary Research.........................................................................................................................3Data collection........................................................................................................................3Survey methodology...............................................................................................................3Sampling method....................................................................................................................3Sample size.............................................................................................................................3Data analysis...........................................................................................................................4F. Data Analysis...............................................................................................................................4Descriptive Analysis...............................................................................................................4Correlation Analysis...............................................................................................................6Regression Analysis...............................................................................................................6G. Conclusion and Limitations........................................................................................................9Conclusion..............................................................................................................................9Limitations..............................................................................................................................9REFERENCES..............................................................................................................................10APPENDIX....................................................................................................................................12Appendix 1: Research Questionnaire...................................................................................12
A. Research TitleTo analyse consumer attitude towards the luxury brands: An empirical study.B. Research BackgroundConsumer behaviour can be defined that in which ways buying attitude of them changeson the basis of different aspects like income, age, services, quality, brand, validity, feasibility etc.The present study is on the basis of consumer behaviour which get fluctuate for the purchasing ofbranded products and services from the market. It majorly focuses that, in the industry what arethe various factors by which purchasing power and attitude of individual affects towards theluxurious brands and its products. In the current era, majority of the people want unique anddifferentiate products and services which are provided by the luxurious brands. In order todetermine level of attitude and purchasing behaviour of the local community towards thebranded items, the present research is to be conducted. In addition to this, for collecting primarydata from the respondents, questionnaire sources is sued by the scholar. Further, data areanalysed from application of SPSS tools and tests on the collected data set.C. Research ObjectivesTo identify concept of the Luxurious Brands.To assess consumer attitude towards luxurious brands.To analyse factors affecting consumer's attitude towards purchasing branded goods andservices.D. Secondary ResearchConcept of the Luxurious BrandsAccording to the Heine (2012) the company which has the highest level of reputation inthe industry and comes under the prestige or extreme category is considered as the luxury brands.Such kind of brands and firms provide higher quality of the products and services to thecustomers. People or customers of the luxury brands rely or come under the upper economicclass.Liu and et.al., (2012)argues that, normal or lower class of people cannot afford productsand services of the luxury brands due to having higher prices. Level of revenue or sales as well1
as loyalty of the consumers is up to the greater extent towards the luxury branded companies. Inthe industry, number of such brands are very few as compare to the local firms.Consumer attitude towards luxurious brandsAs per the views ofKim and et.al., (2012)people always concern towards the higherquality of the goods and services which are provided by the luxury brands. Level of pricescharged by such kind of companies are comparatively higher than local firms. Thosecommunities or customers who not look and consider to the pricing aspect and focus on thequality only, are always preferred to the branded items. Further, due to offering the highestquality, customers like to purchase and see the luxury brands with positive attitude.Ko and Megehee (2012)states that, when talking about the loyalty towards theconsumers of the firm then luxury branded firms come into consideration in comparison to thelocal brands. Therefore, loyalty affects to the consumers in terms of buying products from theluxury brands. Along with this, due to increasing income and living of standard, customer'sattitude for purchasing and consuming branded items influence in the positive manner (Gil andet.al., 2012). In this regard, customers always looking for the initiative and differentiate productswhich are always being offered by the luxury brands. Therefore, it can be said that attitude orbuying behaviour of the consumers is positive towards the luxury brands.Factors affecting consumer's attitude towards purchasing branded goods and servicesIn the opinion ofReis (2015)several kinds of factors and elements are there, whichhighly affect to the customers in order to buy products from the luxury brands. Products andservices of these kinds of brands have higher quality of items which create the positive impact onthe customers. Because of offering high standard of the goods, people switch towards theluxurious items which is one of the basic factor affecting them. Further, due to enhancing theincome and profit of individuals, they like to purchase items of luxury brands and avoid to thelocal companies. Such brands offer products after making modifications and taking initiativeswhich become a unique item (Brun and Castelli, 2013). Due to uniqueness in the goods,customer attitude diverts towards the luxury brands. Most of the community wants to live aluxurious and higher standard of the life which is also one of the major element affects to thecustomers for purchasing the branded items.2
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