Acknowledgement
This work was supported by the Korea Maritime and Ocean University Research Fund in 2020. This work was supported by the National Research Foundation of Korea(NRF-2021R1I1A3048615). This work was supported under the framework of international cooperation program managed by the National Research Foundation of Korea(NRF-2022K2A9A2A20097445).
References
- Amatulli, C., Guido, G., & Nataraajan, R. (2015). Luxury purchasing among older consumers: exploring inferences about cognitive age, status, and style motivations. Journal of Business Research, 68(9), 1945-1952. https://doi.org/10.1016/j.jbusres.2015.01.004
- Bagozzi, R. P., & Yi, Y. (1988). On the evaluation of structural equation models. Journal of the academy of marketing science, 16, 74-94. https://doi.org/10.1007/BF02723327
- Bellezza, S., Paharia, N., & Keinan, A. (2017). Conspicuous consumption of time: When busyness and lack of leisure time become a status symbol. Journal of Consumer Research, 44(1), 118-138.
- Carstensen, L. L., & Lang, F. R. (1996). Future orientation scale. Unpublished manuscript, Stanford University.
- Carstensen, L. L., Isaacowitz, D. M., & Charles, S. T. (1999). Taking time seriously: A theory of socioemotional selectivity. American psychologist, 54(3), 165.
- Carstensen, L. L. (2006). The influence of a sense of time on human development. Science, 312(5782), 1913-1915. https://doi.org/10.1126/science.1127488
- Chandon, J. L., Laurent, G., & Valette-Florence, P. (2016). Pursuing the concept of luxury: Introduction to the JBR Special Issue on "Luxury Marketing from Tradition to Innovation". Journal of Business Research, 69(1), 299-303. https://doi.org/10.1016/j.jbusres.2015.08.001
- Cheron, E., Weins, C., & Kohlbacher, F. (2020). Older consumers' reaction to a patronizing sales interaction. Journal of Services Marketing, 35(3), 287-298. https://doi.org/10.1108/JSM-11-2019-0436
- Choo, H. J., Moon, H., Kim, H., & Yoon, N. (2012). Luxury customer value. Journal of Fashion Marketing and Management: An International Journal.
- Chung, Y., & Kim, A. J. (2020). Effects of mergers and acquisitions on brand loyalty in luxury Brands: The moderating roles of luxury tier difference and social media. Journal of Business Research, 120, 434-442. https://doi.org/10.1016/j.jbusres.2019.11.030
- Cortina, J. M. (1993). What is coefficient alpha? An examination of theory and applications. Journal of applied psychology, 78(1), 98.
- Das, M., Saha, V., & Roy, A. (2022). Inspired and engaged: Decoding MASSTIGE value in engagement. International Journal of Consumer Studies, 46(3), 781-802.
- Drolet, A., & Yoon, C. (Eds.). (2020). The Aging Consumer: Perspectives from Psychology and Marketing. Routledge.
- Fornell, C., & Larcker, D. F. (1981). Evaluating structural equation models with unobservable variables and measurement error. Journal of marketing research, 18(1), 39-50. https://doi.org/10.1177/002224378101800104
- Han, S. L., & Kim, K. (2020). Role of consumption values in the luxury brand experience: Moderating effects of category and the generation gap. Journal of Retailing and Consumer Services, 57, 102249.
- Hayes, A. F., & Preacher, K. J. (2014). Statistical mediation analysis with a multicategorical independent variable. British journal of mathematical and statistical psychology, 67(3), 451-470. https://doi.org/10.1111/bmsp.12028
- Kapferer, J. N. (2014). The future of luxury: Challenges and opportunities. Journal of Brand Management, 21(9), 716-726. https://doi.org/10.1057/bm.2014.32
- Kapferer, J. N., & Michaut, A. (2015). Luxury and sustainability: a common future? The match depends on how consumers define luxury. Luxury Research Journal, 1(1), 3-17. https://doi.org/10.1504/LRJ.2015.069828
- Keller, K. L. (1993). Conceptualizing, measuring, and managing customer-based brand equity. Journal of marketing, 57(1), 1-22. https://doi.org/10.1177/002224299305700101
- Ko, E., Phau, I., & Aiello, G. (2016). Luxury brand strategies and customer experiences: Contributions to theory and practice. Journal of Business Research, 69(12), 5749-5752. https://doi.org/10.1016/j.jbusres.2016.04.170
- Ko, E., Costello, J. P., & Taylor, C. R. (2019). What is a luxury brand? A new definition and review of the literature. Journal of Business Research, 99, 405-413. https://doi.org/10.1016/j.jbusres.2017.08.023
- Kumar, A., & Paul, J. (2018). Mass prestige value and competition between American versus Asian laptop brands in an emerging market-Theory and evidence. International Business Review, 27(5), 969-981. https://doi.org/10.1016/j.ibusrev.2018.02.007
- Kumar, A., Paul, J., & Unnithan, A. B. (2020). 'Masstige'marketing: A review, synthesis and research agenda. Journal of Business Research, 113, 384-398. https://doi.org/10.1016/j.jbusres.2019.09.030
- Kumar, A., Paul, J., & Starcevic, S. (2021). Do brands make consumers happy?-A masstige theory perspective. Journal of Retailing and Consumer Services, 58, 102318.
- Lang, F. R., & Carstensen, L. L. (2002). Time counts: future time perspective, goals, and social relationships. Psychology and aging, 17(1), 125.
- Lewin, K. (1943). Defining the'field at a given time.'. Psychological review, 50(3), 292.
- MacKinnon, D. P., Lockwood, C. M., & Williams, J. (2004). Confidence limits for the indirect effect: Distribution of the product and resampling methods. Multivariate behavioral research, 39(1), 99-128. https://doi.org/10.1207/s15327906mbr3901_4
- Neugarten, B. L. (Ed.). (1968). Middle age and aging (Vol. 10). University of Chicago press.
- Nwankwo, S., Hamelin, N., & Khaled, M. (2014). Consumer values, motivation and purchase intention for luxury goods. Journal of retailing and consumer services, 21(5), 735-744. https://doi.org/10.1016/j.jretconser.2014.05.003
- Paul, J. (2015). Masstige marketing redefined and mapped: Introducing a pyramid model and MMS measure. Marketing Intelligence & Planning.
- Paul, J. (2018). Toward a'masstige'theory and strategy for marketing. European Journal of International Management, 12(5-6), 722-745.
- Paul, J. (2019). Masstige model and measure for brand management. European Management Journal, 37(3), 299-312. https://doi.org/10.1016/j.emj.2018.07.003
- Santosa, A. D., Taufik, N., Prabowo, F. H. E., & Rahmawati, M. (2021). Continuance intention of baby boomer and X generation as new users of digital payment during COVID-19 pandemic using UTAUT2. Journal of Financial Services Marketing, 26(4), 259-273.
- Shukla, P., & Purani, K. (2012). Comparing the importance of luxury value perceptions in cross-national contexts. Journal of Business Research, 65(10), 1417-1424. https://doi.org/10.1016/j.jbusres.2011.10.007
- Silverstein, M. J., & Fiske, N. (2003). Luxury for the masses. Harvard business review, 81(4), 48-59.
- Smith, J. B., & Colgate, M. (2007). Customer value creation: a practical framework. Journal of marketing Theory and Practice, 15(1), 7-23. https://doi.org/10.2753/MTP1069-6679150101
- Truong, Y., Simmons, G., McColl, R., & Kitchen, P. J. (2008). Status and conspicuousness-are they related? Strategic marketing implications for luxury brands. Journal of strategic marketing, 16(3), 189-203. https://doi.org/10.1080/09652540802117124
- Turunen, L. L. M., Cervellon, M. C., & Carey, L. D. (2020). Selling second-hand luxury: Empowerment and enactment of social roles. Journal of Business Research, 116, 474-481. https://doi.org/10.1016/j.jbusres.2019.11.059
- Tynan, C., McKechnie, S., & Chhuon, C. (2010). Co-creating value for luxury brands. Journal of business research, 63(11), 1156-1163.
- Vigneron, F., & Johnson, L. W. (2017). Measuring perceptions of brand luxury. Advances in luxury brand management, 199-234.
- Wallace, M. (1956). Future time perspective in schizophrenia. The Journal of Abnormal and Social Psychology, 52(2), 240.
- Wiedmann, K. P., Hennigs, N., & Siebels, A. (2009). Value-based segmentation of luxury consumption behavior. Psychology & Marketing, 26(7), 625-651. https://doi.org/10.1002/mar.20292
- Zeithaml, V. A. (1988). Consumer perceptions of price, quality, and value: a means-end model and synthesis of evidence. Journal of marketing, 52(3), 2-22. https://doi.org/10.1177/002224298805200302
- Jumi Lee, & Taewan Kim. (2020). A Study on the Causes of Poverty in the Elderly: Focusing on Labor Market Experiences and Changes in Family Structure. Health and Social Welfare Review, 40(2), 193-221.
- Statistics Korea(n.d.). South Korea Population Clock, Ministry of Economy and Finance, Retrieved August 11, 2023, from https://kosis.kr/visual/populationKorea/