They are not all same: variations in Asian consumers’ value perceptions of luxury brands

Abstract

Asian markets are steadily becoming key growth regions for luxury brands. However, despite the growth, many luxury brand firms are unable to obtain the desired economic returns through their marketing strategies in Asia. Often these firms treat consumers across Asian markets as homogenous groups, which could lead to inaccurate luxury brand management strategy. Additionally, there is a limited understanding of consumer value perceptions towards luxury brands across the Asian markets. Employing impression management theory and the horizontal/vertical collectivistic cultural distinctions, this study examines the differences and similarities in constituent luxury value perceptions across three prominent Asian markets, namely, China, India and Indonesia. The results of a quantitative survey conducted with 626 real luxury consumers in these three countries identify variations in perceptions of symbolic, experiential, and functional value of luxury brands. The study contributes to knowledge on constituent luxury value perceptions, along with providing theoretical explanations for the differences between consumers across Asian markets. With the emerging novel insights on Asian consumers, luxury brand firms can align their marketing strategies to respective markets by leveraging the similarities and differences in consumer value perceptions. This approach, informed by empirical evidence, will enhance the luxury brands' competitiveness and profit opportunities in the high growth Asian markets.The study identifies a number of future research directions.

Patterns of Vietnamese buying behaviors on luxury branded products

“…Just as consumers often make purchase decisions based on a product or brand's symbolic meanings, the perception of product attributes may be a function of the demonstration and expression of consumers' personalities and personal values (Sirgy et al, 1991). Previous studies have tested the relationship between luxury product/brand attitude or choice and different individual personal characteristics, such as self-fulfilment/self-confidence (Amatulli and Guido, 2011), personal growth, self-esteem (Truong and McColl, 2011), self-directed symbolism (Shukla, Singh and Banerjee, 2015), ethnocentrism, conformity, need for uniqueness (Park et al, 2008), modernity, eccentricity, opulence, elitism (Heine, 2009), materialism, hedonism and social connections (Chen and Kim, 2013).…”

Understanding marketing innovativeness in Asia: a research agenda

“…Moreover, few studies have compared Asian consumers' perception of brands from different Asian perspectives (e.g. Shukla 2011;Shukla et al 2015), calling again for more comparative studies to seek insight on Asian brand innovativeness and its effect on the internationalisation of such brands.…”

“…The very concepts of 'novelty' and 'newness' vary across different cultures (e.g. Tellis et al 2009;Shukla et al 2015) and attitudes to product and brand innovativeness are shaped to large extent by cultural (Truong 2013) as well as economic factors. A comparative approach that involves two types of comparison might address this issue.…”

Avaliação de Marcas de Luxo: Um Estudo Experimental com Dois Fatores Moderadores

“…Os produtos de ML têm intensa carga simbólica e emocional. Admitindo que os objetos luxuosos expressem os desejos e emoções humanos, por meio deles pode-se conhecer um pouco sobre os valores, crenças e atitudes dos consumidores (Galhanone, 2008;Husic & Cicic, 2008;Shukla, Singh & Banerjee, 2015).…”

“…As marcas de luxo, apesar de estarem atreladas à sua nacionalidade, por serem mais relevantes, sofrem menos o efeito país de origem (Aiello Aiello, Donvito, Godey, Pederzoli, Wiedmann, Hennigs & Singh, 2009;Shukla, Singh, & Banerjee, 2015). Já no mercado de massa, o efeito país de origem deve ser entendido como um possível moderador da avaliação do consumidor, pois a imagem que este tem em relação ao país no qual o produto foi fabricado tem um efeito cognitivo que pode influenciar a avaliação do produto em si (Chyssochoidis, Krystallis & Perreas, 2007;Fetscherin & Toncar, 2009).…”