The Manifestation of Luxury Value Dimensions in Brand Engagement in Self-Concept

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Ostovan, Nima | 2022

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Type of Document: M.Sc. Thesis
Language: Farsi
Document No: 55533 (44)
University: Sharif University of Technology
Department: Management and Economics
Advisor(s): Khalili Nasr, Arash
Abstract:
This research investigates what consumers in democratized luxury markets value when purchasing luxury items. Nonetheless, these consumers have a limited budget and can not always buy luxury items, yet they are drawn back to these luxury brands. Thus, we use brand engagement in self-concept (BESC) to explain the relationship between these consumers and luxury brands within democratized luxury markets. A conceptualized model of three luxury value dimensions (experiential, symbolic, and functional) is proposed, and 488 cases were gathered through a phone survey. The data were analyzed using partial least squares structural equation modeling (PLS-SEM). The results show that the most critical drivers of consumers’ luxury purchase intention (LPI) are hedonism, escapism, conspicuousness, quality, and usability in democratized luxury markets. Also, BESC can unify luxury value dimensions into an integrated whole and mediate the relationship between them and LPI
Keywords:
Brand Engagement is Self-Concept ; Luxury Democratization ; Democratization ; Luxury Goods ; Luxury Value Dimensions ; Luxury Consumption