Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Advances in Economics, Management and Political Sciences
Series Vol. 2 , 22 March 2023
Open
Access | Article
Three Main Tools for Luxury Brands to Strengthen Customers’ Perception of the Brand
* Author to whom correspondence should be addressed.
Abstract
The paper is mainly focusing on examining strategies for firms in the luxury goods market to increase sales. In this paper, the 3 strategies: why logos play an essential role in this industry, why traditional luxury brands began collaborating with fashionable brands and why luxury brands pay high fees to celebrities to engage them as spokespersons, are illustrated. After elaborating on these strategies along with an empirical research and screenshots, the results show that one of the reasons why people are fond of buying luxury products is that logos represent a sense of superiority and may show the owners’ status; collaboration draws people's attention and increases purchase desire as a large number of people appreciate the combination of luxury and street fashion; star effect leads to many customers want to follow or imitate their idols so they are likely to purchase the clothes or items which their idols have worn.
Keywords
logos, star and celebrities, collaboration, customers’ thoughts, strategies, luxury brands
References
1. Truong Young, Simmons Geoff, McColl Rodd and Kitchen Philip J., “Status and Conspicuousness – Are They Related? Strategic Marketing Implications for Luxury Brands”. Journal of Strategic Marketing, P189-203, https://doi.org/10.1080/09652540802117124, (2008).
2. Dubois David, Jung Sungjin and Ordabayeva Nailya, “The Psychology of Luxury Consumption”. Current Opinion in Psychology, P82-87, https://doi.org/10.1016/j.copsyc.2020.07.011, June(2021).
3. Kim Kyulim, Ko Eunju, Lee Mi-ah, Mattila Pekka and Kim Kyung Hoon, “Fashion collaboration effects on consumer response and customer equity in global luxury and SPA brand marketing”. Journal of Global Scholars of Marketing Science 24(3), 350-364, (2014)
4. Jang Eun-Young, “An analyze on cases of fashion collaboration strategy”. Journal of Fashion Business 10(6），110-121， （2006）.
5. Wang Jau-Shyong, Cheng Yen-Fen and Chu Yi-Ling, “Effect of celebrity endorsements on consumer purchase intentions: Advertising effect and advertising appeal as mediators”. Human Factors and Ergonomics in Manufacturing & Service Industries 23(5), 357-367, (2013).
6. Chiuri，Grazia Maria, “Logo lust”. DNA.Sunday; Mumbai. P.1. Mumbai (2017).
7. Fox Marisa , “Letters of luxury”. Newsday, P.1. Long Island, N.Y. 19 Apr 2000.
8. Shula Paurav, Jay Want Singh and Madhumit, “They are not all same: variations in Asian consumers' value perceptions of luxury brands”. Springer Science + Business Media New York, P. 268 and 269. New York (2015).
9. Wilcox Keith , Hyeong Min Kim and Shankar Sen, “ Why do consumers buy counterfeit luxury brands ?”. Survey Michigan, P.249, 250 and 256, University of Michigan (2009).
10. McCormick Karla, “Celebrity endorsements: Influence of a product-endorser match on Millennials attitudes and purchase intentions”. Journal of Retailing and Consumer Services, P39-45, https://doi.org/10.1016/j.jretconser.2016.05.012,(2016)
Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License. Authors who publish this series agree to the following terms:
1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this series.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this series.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See Open Access Instruction).
- Volume Title
- ISBN (Print)
- ISBN (Online)
- Published Date
- 22 March 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/2/2022014
- Copyright
- © 2023 The Author(s)
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited