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Influence of packaging on consumer attitudes and perceptions in the luxury market
Pages 40 (10040 words)
The financial dimension of value perception refers to the cost implications of a luxury product to the consumers. Some consumers attribute value to cost. Consequently, a cheap product means less value to this category of consumers (Chevalier & Gutsatz 2012).
Therefore, the process of packaging must evolve as consumer perceptions and expectations evolve. Packaging must reflect the authenticity and superiority of the products based on the consumer experiences and orientation. Luxury branding is more psychological than physical (Chevalier & Gutsatz 2012). Therefore, the cultural identity and the collectivism must play a significant role in addressing the consumer expectations. The situational stimuli and the social identity are necessary in ensuring that products and services meet the psychological standards set by the consumers (Heine 2012). These include the need for social recognition, show of might and satisfaction. In the United Kingdom, some luxury products believe that sustainability is necessary in the development of products. Therefore, luxury products are expected to be durable and classic. The uniqueness of products should be reflected in packaging and quality. For example, luxury cars are expected not only to be comfortable but durable. A growing number of luxury brands in the United Kingdom have devised products that are appealing to the social class especially after the purchasing power continues to decrease. The rationale of luxury concept is to develop differentiated products for the upper class (Michman & Mazze, 2006). This justifies the use of exclusive prices while marketing the products. ...
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