StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Prestige-Seeking Consumer Behavior on Luxury Fashion Branded Accessories - Essay Example

Cite this document
Summary
More young people are increasingly dreaming of owning luxury items at least once in their lifetime. They have been caught up in fashion…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER96.4% of users find it useful
Prestige-Seeking Consumer Behavior on Luxury Fashion Branded Accessories
Read Text Preview

Extract of sample "Prestige-Seeking Consumer Behavior on Luxury Fashion Branded Accessories"

The paper "Prestige-Seeking Consumer Behavior on Luxury Fashion Branded Accessories" is a good example of an essay on marketing. In Thailand, it is very common to see people wear luxury branded fashion accessories depending on the fashion trends and their social statuses. More young people are increasingly dreaming of owning luxury items at least once in their lifetime. They have been caught up in fashion trends involving luxury brands, acquiring fashion advice and information from the media and both local and international celebrities who act as fashion role models for most young people in Thailand.

This group of young people is highly motivated by luxury fashion accessories because of the social status accorded to individuals wearing these luxury items (Fionda and Moore, 2008). Luxury fashion accessories are also highly coveted throughout the middle-class Thai who also want to attain higher status by sporting the expensive accessories and also being seen as being aware of the latest fashion trends. For over a decade now, luxury brand marketing has been one of the biggest industries in Thailand and indeed all over the world.

This has been so despite the high costs of accessing these fashion brands and the fact that fashion trends are always changing very fast and it will require one to have huge sums of money for them to be up to date with the latest brands and trends. This has led to business scholars to investigate the motivations that drive people towards these highly expensive luxury brands. Some of the most coveted fashion brands include Louis Vuitton, Hermes, Tiffany, Armani, Burberry, Fendi, and Cartier, which are also globally recognized fashion brands.

Most of the existing literature on purchase behavior of consumers in relation to luxury brands is mostly based on the Western markets. Recent studies have however shown that the Asian market is very different from the Western consumers. This is because they are perceived to be more materialistic and are likely to spend more on luxury items as compared to those in the West (Dubois, Czellar and Laurent, 2005). There is, therefore, higher demand for luxury items in the Eastern countries, including Thailand than in Europe and America.

The other difference between these two markets is that in the West, consumers are attracted to luxury items because of the personal fulfillment they are likely to get from them, whereas in Thailand and the of Asia, individuals are mostly motivated to buy luxury items because of how they will be perceived in the society. Thai people’s buying behavior is based on how society expects people to buy and how other people in society think of you when you own luxury brands. Thai consumers are also influenced to buy luxury brands because of the perceived durability of these items as compared to other cheaper alternatives.

The value attached to the brands is more likely to attract consumers despite the costs of the items. The other key elements that influence the purchase behavior of most consumers are the quality and reputation that these brands have been able to develop over time. Lastly, the marketing strategies used by these brands also play a big role in influencing the purchase behavior of most Thai consumers. This includes using highly regarded celebrities to endorse and promote the latest brands and trends in the fashion industry.

Fans of these celebrities would be attracted to the brands because they would want to look like their most respected and adored celebrities (Degen, 2009).

Read More
Tags
Cite this document
  • APA
  • MLA
  • CHICAGO
(Prestige-Seeking Consumer Behavior on Luxury Fashion Branded Essay, n.d.)
Prestige-Seeking Consumer Behavior on Luxury Fashion Branded Essay. https://studentshare.org/marketing/1802825-prestige-seeking-consumer-behaviour-on-luxury-fashion-branded-accessories
(Prestige-Seeking Consumer Behavior on Luxury Fashion Branded Essay)
Prestige-Seeking Consumer Behavior on Luxury Fashion Branded Essay. https://studentshare.org/marketing/1802825-prestige-seeking-consumer-behaviour-on-luxury-fashion-branded-accessories.
“Prestige-Seeking Consumer Behavior on Luxury Fashion Branded Essay”. https://studentshare.org/marketing/1802825-prestige-seeking-consumer-behaviour-on-luxury-fashion-branded-accessories.
  • Cited: 0 times

CHECK THESE SAMPLES OF Prestige-Seeking Consumer Behavior on Luxury Fashion Branded Accessories

Luxury Brands, Why People Spend a Lot of Money to Buy Luxury Goods

People and fashion celebrities buy the branded goods of Louis Vuitton, Christian Louboutin and Gucci to wear robust and durable products.... Louis Vuittan is footwear giant and fashion people spend a lot of money on branded products to show richness.... ?? (Alexandra 2010) Now the one more reason is export of branded items.... branded companies like Hermes, Gucci, Adidas and Nike are manufactured and used in economically strong countries....
4 Pages (1000 words) Essay

The Sales Plan of Mens Accessories in a Women Only Accessories Stores

hellip; People especially the young generations are becoming highly brand conscious and the marketers are using this factor of consumer behavior for the marketing planning which includes promotions and mainly the sales plan.... The paper "The Sales Plan of Men's accessories in a Women Only accessories Stores" discusses that the main aims and objective of this business report is to develop an effective sales plan for the men's essential accessories like tie, wallet and belt....
5 Pages (1250 words) Research Paper

Counterfeit Luxury Brands and High-Status Consumers

The aim of this assignment "Counterfeit luxury Brands and High-Status Consumers" is to critically discuss the thesis that consumers who have higher status consumption perspective will have a positive impact on the willingness to buy counterfeit luxury brands.... hellip; Consumers who have a high-status consumption perspective tend to purchase counterfeits of luxury brands because such consumers regard status as a final determinant of consumption....
1 Pages (250 words) Assignment

Consumers Are Always at the Crossroads

The world of fashion is changing at a rapid speed.... They cannot be certain as to whether the chosen piece of cloth or fashion accessory would be of any use, say six months down the lane.... … It is the fashion retailer with added promotions and media hypes to boost up the consumer's need to have the new piece of clothing for his own social projection.... Thus the self concept is quintessential since it underpins his own notions related with the fashion needs and in what manner he can best fulfill the very same....
8 Pages (2000 words) Essay

The Relationship between the Consumers Need for Uniqueness and Purchase Perception of Fast Fashion Co-Brands

Fast fashion brand should therefore collaborate luxury fashion designers brand to induce high degree of uniqueness for their consumers.... luxury fashion Branding; Trends, Tactics, Techniques.... hellip; This research will begin with the statement that the fashion industry has seen much of partnership between fast fashion and designer fashion brands launching a special co-branded line, recognized at “fast fashion co-branding”.... Co-branding in Fast Fashion: The Impact of Consumers' Need for Uniqueness on Purchase Perception Co-branding in Fast Fashion: The Impact of Consumers' Need for Uniqueness on Purchase Perception Introduction The fashion industry has seen much of partnership between fast fashion and designer fashion brands launching a special co-branded line, recognized at “fast fashion co-branding”....
2 Pages (500 words) Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us