Analyzing Consumer Perception and Evaluation of Luxury Brands: Methodologies and Challenges

Perceptions and Evaluation of Luxury Brands by Consumers

Abstract:

This chapter offers a critical assessment of methodologies for gauging consumers' perceptions and evaluations of luxury goods and luxury brand experiences. It begins with an exploration of the multifaceted relationship between individuals and luxury brands, followed by a detled examination of widely recognized measurement approaches to understand consumer attitudes towards these high-end products.

Challenges in measuring luxury perception and evaluation are highlighted, including:

1. Identification of Relevant Reference Points: The complexity of consumer motivations and experiences necessitates a more systematic identification of criteria used as reference points for evaluating luxury goods.

2. Integration of Conscious and Unconscious Processing: Acknowledging the influence of both conscious decision-making and unconscious biases requires considering how implicit information processing shapes consumer perceptions alongside explicit factors.

3. Differentiation of Perceived Value: Capturing the multifaceted value associated with luxury brands demands a more nuanced approach to measuring the total perceived value rather than a singular metric.

Subsequently, the chapter proposes innovative frameworks and tools med at addressing these challenges:

• Multidimensional Reference Point Theory: This approach encourages researchers to consider various dimensions such as quality, exclusivity, brand heritage, emotional appeal, and functional benefits when assessing consumer reference points for luxury.

• Dual Process Theories: Incorporating insights from dual process theories e.g., System 1 vs. System 2 cognition helps in understanding how both intuitive and deliberate decision-making contribute to the perception of luxury goods.

• Complex Value Construction: Theseemphasize the intricate interplay between different dimensions of brand value, including cognitive, affective, and behavioral aspects, allowing for a more comprehensive evaluation of consumer perceptions.

The chapter provide foundational insights and initial proposals to advance research in measuring luxury perception, fostering more accurate, inclusive, and insightful studies in this field. This approach not only enhances our understanding of luxury consumption but also paves the way for innovative strategies in luxury brand management and marketing.

Keywords: Luxury Perception, Reference Points, Value Associations, Levels of Luxury, Luxury Brands, Implicit Information Processing, Explicit Information Processing, Unconscious Drivers, Conscious Drivers, Measurement, Perceived Luxury Value

References to Additional Resources

• Donze, P-Y. Ed.. The Oxford Handbook of Luxury Business

• Scabim Morano, R., Rausp Management Journal

• Freire, O., Rausp Management Journal

• Francisco de Almeida Fehr, L.C., Rausp Management Journal

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