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Research On Human Behavior Towards Luxury Product

   

Added on  2020-03-16

9 Pages1586 Words34 Views
Research ProposalName of the Student:Name of the University:Author’s Note:

Table of ContentsIntroduction3Research Objectives4Literature Review4Luxury Goods4Relationship between Quality and Buying Behavior5Relationship between Attitude and Buying Behavior6Research Methodology7Data Collection7Research Approach8Sampling Strategy8Tools and Techniques8References9

A Study of Factors Influencing Youth towards Luxury Product ConsumptionIntroduction The concept of ‘luxury’ has become greatly ambiguous due to their high availability. Inthe current world where people are competing to show off their wealth to attain socialrecognition, one such way is by owning various luxury goods. This feeling is mostly observed inyoungsters which results in innumerous factors that influence them to consume luxury products.The purpose of this study is to highlight these factors and understand the depth of theirpersuasion. It is important to understand the various factors that contribute to such behavior ofpeople when it comes to owning luxury products (Gentina, Shrum and Lowrey 2016). With the rapid growth of technology and the zeal to be on top in every aspect of life, itbecomes imperative for youngsters to follow all the latest trends. It is not an easy task tostreamline the factors that may influence young people’s attitude towards consuming the luxuryproducts but this research shall help to get a hold on a few the important factors that may play ahuge role in modulating their behavior towards it. This research will unfold many importantaspects of human behavior towards luxury product consumption. The demand for luxury goods isincreasing gradually as the individuals have higher income and more consumption opportunities.The rich people have no monopoly on the luxury goods due to the expansion and growth in themarket of luxury goods. The social status and motives drive luxury consumption and is importantfor shaping the buying process (Ko, Phau and Aiello 2016).Research ObjectivesThe research objectives that shall be met through this research study would be:

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