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( Chi-hsien Kuo ),( Shin`ya Nagasawa ) 한국품질경영학회 2015 한국품질경영학회 학술대회 Vol.2015 No.2
Purpose - The luxury market has grown steadily in recent years, According to Bain & Company (2014) report, the overall luxury market size will achieve €265 billion by 2017, accompanying with the 4% to 6% sustainable growth, Research in this field has gradually begun to focus on an in depth analysis of consumer conspicuous consumption behavior, The purpose of this paper is to explore the complete framework with beliefs-value-intention chain from a socio-economic perspective, Design/methodology/approach - This study proposed an integrated model for consumer conspicuous consumption by combining a hierarchy model of luxury goods proposed by Alleres (1990) and value theory (Babin et al, 1994), Firstly, this paper collected and summarized the consumer beliefs of luxury goods from extant studies, and thus, conducted a pilot study to confirm the structure and the interrelationships among those consumer beliefs, corresponding to the Alleres hierarchy model of social identity, Based on the exploratory study, this study developed a hierarchy framework of consumer perceptions of luxury goods, including quality-oriented beliefs, recognition-oriented beliefs, and elite-oriented beliefs, Secondly, the researchers proposed the research model and developed postulated hypotheses, With 316 valid samples from a web-based survey, this paper employed the confirmatory factor analysis for measurement reliability and validity, Thus, partial least squares structural equation modeling was conducted to assess the integrated model, Findings -Based on the analysis, the findings shown that consumer with higher quality-oriented beliefs had the strongest effect on hedonic value, followed by the effects of elite-oriented and recognition-oriented beliefs, In contrary, consumers with higher elite-oriented beliefs had the strongest effect on the utilitarian value, followed by the effects of recognition-oriented and quality-oriented beliefs, Furthermore, both utilitarian and hedonic values have positive effects on behavioral intention to buy luxury goods, The effect of hedonic value on intention to buy luxury goods was stronger than the effect of utilitarian value, Practical implications - The finding revealed that consumers with different weight of beliefs contribute to diversified weights of consumer value, leading them to behave their conspicuous consumptions, Managers should position their luxury product clearly and develop different promotions toward their target markets, Indeed, not only the needs of the higher social status or financial success evoke consumer resonance, but the feeling of fulfillment that (luxury consumption provides should also be something that) marketers should highlight Practitioner should emphasize the affect elements when designing the market strategy and advertising activities, Originality/value - This paper identified the consumer beliefs of luxury goods which corresponded to the Alleres□s (1990) hierarchy model of social identity, and examined its effects on the core values (hedonic value and utilitarian value) based on the value theory.
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