Luxury brands are bought in different countries for different values. This study evaluates those values consumers consider and provides a comparison between Indian and British luxury consumers.
Influence of prospect payments on pricing OR should you charge more for your iPhone app?
The article provides empirical evidence as to how others can influence purchase of luxury goods in different markets and suggests strategic managerial implications.
The article discusses the importance of interpersonal influences in consumption decision and why it is important in the context of luxury however has not been tested till date. Provides avenues of how it can be explored in the case of luxury.
In some of my earlier posts, I have stated that there are two simultaneous paradoxical needs among us consumers with regard to consumption namely, (a) to conform and (b) to demonstrate uniqueness. In sociology and psychology this has led to creation of various terms such as fitting in or standing out, in-group vs. out-group behaviour, [...]
Most consumers in developed and emerging markets are now facing an interesting choice making dilemma. It’s the dilemma of plenitude. This relates to most purchase decisions which includes a wide spectrum of products and services from buying corn flakes (a fairly low ticket item) to a car (a fairly big ticket item) and even the [...]
When joining the ‘luxury society’ group, one of the interesting questions they asked was to provide your own definition of luxury. My response to that was “luxury is a state of mind. It is about how you carry yourself and fulfil yours as well as others desires”. My idea focused on the issue of luxury [...]
Recently, I was talking to one of my colleagues who was mis-sold his mobile phone contract. Interestingly enough, I stumbled across a research carried out by the Financial Services Authority (FSA) in the UK which suggested that more than 9% of all consumers were mis-sold products or services in recent past. Several questions emerged in [...]
As stated in my earlier post ‘antecedents to consumer confusion‘, I shall focus on consequences of consumer confusion in this post. The earlier post focused on three important antecedents to consumer confusion namely; expectations, attribute confusion and information confusion in the context of financial services industry (i.e. banks, insurance. credit card, mortgage and other such [...]
Researchers suggest that 90% people across the world make occasional impulse purchases. However, when asked about impulsive buying behaviour approximately 30% to 50% only classify themselves as impulsive. This highlights two interesting issues: (1) consumers’ own understanding of what is impulsive; and (2) the difference between what consumers portray and what they really do. While [...]