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

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

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 limited understanding of consumer value perceptions toward luxury brands across the Asian markets. Employing impression management theory and the horizontal/vertical collectivistic cultural distinctions, this study examines 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 luxury brands’ competitiveness and profit opportunities in the high-growth Asian markets. The study identifies a number of future research directions.

Asian consumers, China, Emerging markets, Horizontal/vertical collectivistic cultures, India, Indonesia, Luxury brands, Value perceptions
0923-0645
265-278
Shukla, Paurav
d3acd968-350b-40cf-890b-12c2e7aaa49d
Singh, Jaywant
db6316ed-e404-4c5a-873c-6e97c94fe531
Banerjee, Madhumita
aa2f5228-6b0c-409b-abfe-5d141b9285bc
Shukla, Paurav
d3acd968-350b-40cf-890b-12c2e7aaa49d
Singh, Jaywant
db6316ed-e404-4c5a-873c-6e97c94fe531
Banerjee, Madhumita
aa2f5228-6b0c-409b-abfe-5d141b9285bc

Shukla, Paurav, Singh, Jaywant and Banerjee, Madhumita (2015) They are not all same: variations in Asian consumers’ value perceptions of luxury brands. Marketing Letters, 26 (3), 265-278. (doi:10.1007/s11002-015-9358-x).

Record type: Article

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 limited understanding of consumer value perceptions toward luxury brands across the Asian markets. Employing impression management theory and the horizontal/vertical collectivistic cultural distinctions, this study examines 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 luxury brands’ competitiveness and profit opportunities in the high-growth Asian markets. The study identifies a number of future research directions.

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More information

e-pub ahead of print date: 6 February 2015
Published date: 27 September 2015
Keywords: Asian consumers, China, Emerging markets, Horizontal/vertical collectivistic cultures, India, Indonesia, Luxury brands, Value perceptions

Identifiers

Local EPrints ID: 430223
URI: http://eprints.soton.ac.uk/id/eprint/430223
ISSN: 0923-0645
PURE UUID: a6d9e80e-54d0-4f09-a16c-4823e2a28d20
ORCID for Paurav Shukla: ORCID iD orcid.org/0000-0003-1957-8622
ORCID for Jaywant Singh: ORCID iD orcid.org/0000-0002-0766-0162

Catalogue record

Date deposited: 16 Apr 2019 16:30
Last modified: 10 Nov 2021 04:00

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Contributors

Author: Paurav Shukla ORCID iD
Author: Jaywant Singh ORCID iD
Author: Madhumita Banerjee

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