• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.6
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• pp.1-14
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• 2018

As interest and consumption of luxury goods have become more popular, luxury goods market is growing rapidly. Consumers can acquire psychological satisfaction with material abundance by purchasing and using luxury goods. Also, from the view of corporations, luxury goods have price inelastic characteristics, so they can enjoy price premium and it is good to produce good performance. That is the reason why they should pay much attention to securing luxuriousness. This study examined the establishment of brands luxuriousness in Korean SMEs. First, it examined the world market of luxury goods industry and the present condition of Korean market. Then it identified the constituents of luxuriousness by examining the prior studies and related literatures, and designed a research model based on the theoretical grounds to suggest the methods of brand luxuriousness building of Korean SMEs. Luxuriousness can be defined as the attribute of product that distinguishes luxury goods from other products by consumers' perceptions, and the factor that provides situational benefits that motivate consumers' purchasing behavior. In this study, I identified the sub-dimensions of luxuriousness according to whether there are product related attributes and consumers' benefit in consideration of the problems of existing studies. Product related luxuriousness are classified into superiority(functional benefit) and scarcity(experiential benefit), while non-product related luxuriousness are classified into differentiation(symbolic benefit) and traditionality(exclusive benefit). The following are the ways to build brand luxuriousness. First, company can use product factors. High quality, excellent design, high recognized brand with strong, favorable and unique images can enhance the luxuriousness of brand. Second, company can use price factors. Consumers tend to perceive luxury goods as high-priced items, so lowering the price of product can undermine the luxuriousness of product. Third, company can use distribution factors. It is effective for making consumers to perceive the differentiation and scarcity of luxuriousness through limited distribution channel. In addition, store atmosphere suitable for luxury brands should be created. Fourth, company can use promotion factors. The more consumers are exposed to advertisements, the more positive attitudes toward luxury brands are made, and consumers recognize luxuriousness higher. Price promotion negatively affects consumers' perception of luxuriousness. Fifth, company can use corporate factors. Consumer evaluations of products are influenced not only by the product attributes but also by the corporate association and corporate image surrounding the product. Considering the existing researches, it is possible to enhance the brand luxuriousness through high corporate competence and good corporate reputation. In order to increase the competence of the enterprise, it is useful to approach multidimensionally in relation with the knowledge creation capability. In corporate reputation, the external stakeholders' reputation is important, but the internal members' reputation is also important. Korean SMEs will be able to build brand luxuriousness by establishing marketing strategies as above and/or mix(integrate) them according to the situation.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.4
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• pp.191-203
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• 2016

This purpose of this study is to academically define what "luxury products" mean, and to clarify the cognitive structural relationship between corporate attributes and "luxuriousness" in relation to the determinant of luxuriousness that eventually affects the purchase intention of consumers. This study is also written under the theory that luxuriousness leads to benefits such as functional benefit, experiential benefit, symbolic benefit, and exclusive benefit; which all provide core values to consumers and serve as effect factors that influence the psychological satisfaction of consumers. The commonly discussed measure of the determinant of luxuriousness has often failed to adequately describe the reasons to why the consumers prefer luxury products. This study also aims to suggest a new path in how and what the consumers perceive as luxury products, and to conceptualize what luxuriousness means in the marketing perspectives on the background of a previous theory. The part of corporate attributes are divided in the following sections: corporate ability(CA) and corporate reputation(CR). The part of the determinant of luxuriousness is divided in sections of superiority, scarcity, differentiation, and traditionality. Therefore, this study used the theoretical concept used in such common measures as well as 282 examples to empirically analyze the relationship between corporate attributes and luxuriousness of luxury products, and how such affect the purchase intentions of consumers. The survey used to aid this study targeted luxury product consumers regarding "B" brand of automobiles. Using the analysis through a structural equation model, the study draws a conclusion that in a relationship between corporate attributes and luxuriousness, corporate ability(CA) of corporate attributes affects the facts of differentiation and traditionality in a significant way, and corporate reputation(CR) of corporate attributes affects the factors of superiority and scarcity in a significant way. Additionally, the superiority and scarcity of luxuriousness positive significantly affects purchase intention, and differentiation and traditionality of luxuriousness affects purchase intention in a negative significant way. The structural concept of luxury and luxuriousness suggested in the study will provide the theoretical basis for building a new case study, and the determinants of luxuriousness in the marketing perspective will be a practical help for checking the consumers' psychological reasons for purchase.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.4
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• pp.95-111
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• 2015

This purpose of this study is to academically define what "luxury products" mean, and to clarify the cognitive structural relationship between product attributes and "luxuriousness" in relation to the determinant of luxuriousness that eventually affects the purchase intention of consumers. This study is also written under the theory that luxuriousness leads to benefits such as functional benefit, experiential benefit, symbolic benefit, and exclusive benefit; which all provide core values to consumers and serve as effect factors that influence the psychological satisfaction of consumers. The commonly discussed measure of the determinant of luxuriousness has often failed to adequately describe the reasons to why the consumers prefer luxury products. This study also aims to suggest a new path in how and what the consumers perceive as luxury products, and to conceptualize what luxuriousness means in the marketing perspectives on the background of a previous theory. The part of product attributes are divided in the following sections: the quality and design of functional cues and brands of symbolic cues, as well as prices. The part of the determinant of luxuriousness is divided in sections of superiority, scarcity, differentiation, and traditionality. Therefore, this study used the theoretical concept used in such common measures as well as 282 examples to empirically analyze the relationship between product attributes and luxuriousness of luxury products, and how such affect the purchase intentions of consumers. The survey used to aid this study targeted luxury product consumers regarding "B" brand of automobiles. Using the analysis through a structural equation model, the study draws a conclusion that in a relationship between product attributes and luxuriousness, quality(which is one of the functional cues) affects the facts of superiority, differentiation in a significant way, and design affects the factors of scarcity in a significant way. And brand(one of the symbolic cues) significantly affects the factors of traditionality within the luxuriousness factors, and price appeared to affect superiority and scarcity. Additionally, the brand of product attributes significantly affects purchase intention, and superiority and scarcity of luxuriousness affects purchase intention in a significant way. The structural concept of luxury and luxuriousness suggested in the study will provide the theoretical basis for building a new case study, and the determinants of luxuriousness in the marketing perspective will be a practical help for checking the consumers' psychological reasons for purchase.

• International Area Studies Review
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• v.21 no.1
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• pp.79-96
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• 2017

As Chinese luxury consumption is rapidly expanding and dominant in global luxury market, it becomes very critical to understand Chinese consumers' luxury consumption pattern. Under this circumstance, this study empirically tested the impacts of Chinese consumers' perceived service quality of luxury stores and extended self of luxury on luxury purchasing intention. The result of this study is as follows. First of all, Chinese consumer' perceived service quality of luxury store and extended self of luxury have positive impacts on luxury purchasing intention. However, Chinese consumer' extended self of luxury has partial interaction impact on luxury purchasing intention. From the results, to promote Chinese consumers' luxury consumption, marketers must improve the service quality of luxury store and extended self of luxury. This research not only enrich theoretical knowledge about Chinese consumers' luxury purchase behavior, but also assist marketer to develop luxury marketing strategies in China.

• Journal of Digital Convergence
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• v.10 no.9
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• pp.281-287
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• 2012

This study covered the Korean consumers' Luxury Purchase Motivation and benefit factors associated with the consumption behavior. Causal structural relationships between these variables were examined. Examined for the preceding literature on the basis of an analysis of the factor structure of Korean luxury purchase motivation factors and use benefits for Luxury of purchasing to help any relationship whether these factors were confirmed. Firstly, the results confirm the relevance luxury purchase motivations and benefits among the factors, materialistic motives, the economic benefits and practical benefits factors had a positive impact. Personal benefits and social benefits, and cost-benefit factors had a positive impact on the psychological motives. Secondly, the luxury of buying does not have a significant effect on the material motives. The other hand, had a positive effect on psychological motives. Third, the benefits of relevant factors on the purchase of luxury used. Personal factors, economic and practical benefits, they did not have a significant impact. Social benefit factors had a negative impact. Finally mediated side effects among these factors was confirmed. Only psychological motives mediating effects on factors of social benefits through the purchase of crazy. The results of this study to describe the consumer luxury purchasing behavior on buying behavior, as well as a simple linear relationship between the factors for the benefits to be gained by using luxury purchase motivation indirectly explained the process for luxury marketers in the future, and psychological characteristics offered to consider the implications.

• Journal of Digital Convergence
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• v.10 no.1
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• pp.203-213
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• 2012

This paper attempts to find out the psychological characteristic factors of Korean consumers, and to identify how they influence consumers' attitudes toward the products for the world famous brands. The related literature refers face-consciousness trait, boast trait and ritualism trait to the main research objectives of this research. As results, 3 underlying factors are found to underly the 'Chemyon(social face)', 6 factors to 'Uzzul(Boasting)'. Multiple regression analysis reports that 'Uzzul(Boasting)' trait has a significant influence over the consumer's attitudes toward the product for the famous brands, and Chemyon(social face) trait has the same effects as well though with less statistical weight. The paper's findings suggests academically that we need more serious research endeavor to understand consumption propensities that are salient to Korean consumers. And, they also imply that advertising creative director would implement the knowledge in developing creative strategy for brand advertising.

• Journal of Digital Convergence
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• v.10 no.8
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• pp.111-118
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• 2012

This study examined the psychological characteristics of the Koreans Uzzul(Boasting) about the impact on consumer attitudes about the brand. Elated about the psychological characteristics of Korean literature on the basis of an analysis of these Koreans Uzzul(Boasting) psychological characteristics were examined for luxury consumer attitudes and whether any relationship was confirmed. Firstly, the psychological characteristics of Koreans Uzzul(Boasting) were six sub-factors. Second, consumer attitudes about the luxury factor analysis was the result of two factors. Third, the psychological characteristics of Koreans Uzzul(Boasting) impact on consumer attitudes about the brand. Arrogant sense and self-esteem factors had a significant impact on hedonic attitudes. In addition, the relative recognition factors had an impact on the quality trust attitude. The results of this study did not cover the face of conspicuous luxury-related studies have mainly dealt with the psychological variables. Whereas Koreans Uzzul(Boasting) psychological characteristics based on research in progress by virtue of the fact that it is worth. Offered practitioners to consider the characteristics of the target group of Uzzul(Boasting) psychological implications for the future designer to create ads.

• Asia Marketing Journal
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• v.10 no.4
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• pp.1-33
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• 2009

This research investigates the effect of brand-self identification on brand attachment and brand commitment focusing on luxury brand. Another purpose of this study is to examine how the relationships among brand identification, brand attachment and brand committment are moderated by consumers' regulatory focus. Structural Equation Modeling using 214 questionnaires was conducted to test hypothesized model. The results reveal that perceived luxury brand personality including excitement, competence, and sophistication influences brand-self identification positively, which in turn has a signifiant positive effect on the brand attachment. It is also found that consumers' emotional attachment to luxury brands has a positive influence on the luxury brand commitment while the effect of the brand-self identification on the brand commitment is not signifiant. This finding strongly supports that brand attachment and brand commitment are distinct construct, which confirms the results of the previous studies. In addition, the results show that consumers-luxury brands relationships are moderated by consumers' regulatory focus. This finding explains that prevention-focused individuals who have interdependent self-view respond to the loss caused by relationship break more sensitively compared to the promotion-focused consumers. Finally, based on the findings of this study, theoretical contribution and managerial implications are discussed.

• Korean journal of communication and information
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• v.75
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• pp.9-42
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• 2016

This study critically examines the social and personal meanings that luxury consumption have in contemporary Korean society through understanding the consumption experiences of men in their 30s. Interviews with nine male consumers who are committed to luxury brands, especially those that produce suits, watches, fountain pens, and shoes, were conducted to collect qualitative data. We found that participants are satisfied with the whole process of luxury brand consumption including buying, using, and managing and try to consume the products for self-expression, congruent with their lifestyle and identity. Individuals have learned how to consume the luxury brand from their role models. Their consumption follows hybrid and postmodern patterns and combines luxury brand products with non-luxury one. In contemporary Korean society, using the luxury products is considered necessary to achieve some advantages in social contexts and can be also functioned as a sort of social signifier and self-help, as well as, a tool for self satisfaction or well-being.

• International Commerce and Information Review
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• v.15 no.3
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• pp.65-86
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• 2013

The purpose of this study compare the difference between purchaser of counterfeit goods and non-purchaser about how self-esteem and conformity influence upon purchase intention of luxury counterfeits goods. Until existing research on purchase intention of luxury counterfeit goods have focused on the consumers' sense of superiority such as conspicuous consumption, hedonic consumption and symbolic consumption. This thesis, however, has focused on individual's psychological variables such as self-esteem and influence of reference group. The results are as follows. The purchaser of counterfeit goods tend to depend on others heavily and show a high purchase intention. On the other hand, the non-purchaser with high self-esteem are less inclined to buy counterfeit goods, and purchase intention level will also be lowed down. This thesis tries to support the assumption that personal psychological difference exist between purchaser and non-purchaser, and this result seems to correspond with the preceding studies.