Attitudes Toward Luxury Goods

This report will aim to criticise and discuss the key factors that help in maintaining their exclusivity, the global Marketing strategies they have put to practice and its pros and cons, how the three brands can maintain their aura and fashion status and finally a conclusion with recommendations on areas of improvements.

Consider the role of attitude in learning, and the impact of subject norms, self-efficacy, fear, and social influence in behavior. Provide a specific example of how a person’s attitude has influenced their behavior and learning.

Luxury is uniqueness, attitude and ethnicity. Internet is purely a medium of communication for Luxury brands. The industry has been showing less dedication towards integrating complex technologies and its associated interactive and digital tools in marketing and overall commerce strategies. There is also a push to be present on the internet to evolve consumer needs and expectations. The initiation of internet as a universal supply channel provided an unparalleled medium by which to boost brand awareness and recover market share. This proposal provides an outline for exploratory research in sustaining the luxury brands online. The study overlaps research findings on internet marketing and consumer behavior for luxury brands.

There are three components that underlie every attitude. These are referred to the ABC’S of attitudes and consist of an affective, behavioral and cognitive component. The affective component involves our feelings and or emotions, the behavioral component is the actions and how we act, and the cognitive component consists of our thoughts and feelings (Consumer Behavior: Tripartite Model & Attitude Measurement, n.d.).

“Attitudes are positive or negative evaluations, feeling, and tendencies that individuals harbor toward objects or concepts” (Wild). As the book mentions, attitudes are similar to values, these are formed according to a culture background and varies from country to country.

attitude: feelings, often influenced by our beliefs, that predispose us to respond in a particular way to objects, people, and events.

In order to better visualize the realm of brand's position in the market, fashion managers should execute VALS Model. Through Values, Attitudes, and Lifestyles System for Maison Martin Margiela we are able to precisely measure company's target consumers and their buying motivation that stimulates consumer behavior. This system allows to deep into humans psychology and examines consumers' values, lifestyles, and attitudes. VALS is based on two dimensions: resources and self-orientation. It classifies people into eight groups: innovators, thinkers, achievers, experiencers, makers, believers, strivers and survivors. It is critical that fashion managers analyze population shifts, market size, age groups, gender, family status, social classes, income, education, attitudes, lifestyles and nationalities in order to collect an appropriate information to enter inside their potential markets. While conducting research, it is obvious that in fashion industry innovators, achievers, experiencers and strivers are the most important groups that fashion managers have to consider and attract their attention. Each of these group willingly spend money on products that are beyond their needs, but satisfy their egos. These four groups that MMM should focus on, as they are striving to achieve prestige, status, excitement, and they are giving a huge credit for their appealing. These types of consumers' who are successful, wealthy and aren't hesitate of the high prices on tag so that they can be socially accepted as the image is an important aspect for them, and a prestige afforded them with such purchases. Interestingly, the Country of Origin and Manufacture plays a tremendous role in choosing a brand to satisfy their self-esteem as well. Obviously, France and Italy are known as the most

This essay will examine the strength of the link between attitudes and behaviour and show that attitudes do not always predict behaviour as there are a number of variables that need to be put in place before the evaluation of a person behaving according to their attitudes can be assessed. These variables will be discussed in some detail. The three component model will be discussed and also attitude formation will be touched upon, before the link between behaviour and attitude can be examined a general understanding of how and why attitudes are formed needs to be addressed.

When given a choice between a pair of Prada shoes or a pair of Puma shoes, consumers are aware that both products will provide sufficient comfort and protection to their feet. Yet, when asked in a recent visual survey, which shoe they would choose to buy, 76% of people chose the Prada brand shoe (Appendix p. 7). Given that both shoes can achieve the same purpose, one asks why have so many people chosen that particular brand of shoe over the other? When contemplating the alternative brands of each shoe, it could be suggested that effective branding has enticed consumers to prefer the Prada shoe? The following essay will discuss how branding influences consumers luxury fashion choices.

When given a choice between a pair of Prada shoes or a pair of Puma shoes, consumers are aware that both products will provide sufficient comfort and protection to their feet. Yet, when asked in a recent visual survey, which shoe they would choose to buy, 76% of people chose the Prada brand shoe (Appendix p. 1). Given that both shoes can achieve the same purpose, one asks why have so many people chosen that particular brand of shoe over the other? When contemplating the alternative brands of each shoe, it could be suggested that effective branding has enticed consumers to prefer the Prada shoe? The following essay will discuss how branding influences consumers luxury fashion choices.

Based on the article “Types of Luxury Consumers” written by Robert Frank, the issue that arise is the consumers often spend lavishly to communicate wealth and status to those around them. Peoples nowadays believe that having an expensive well-known items will gives them a high social status. This kind of mind set has made a lot of consumers to have a collection of branded things. The author’s point of view is about the theory of luxury lifestyles among luxury consumers. The author also states an argument on a revealed twist in the conventional wisdom surrounding product iconography and branding. The tone used in the article is neutral which is objective as he simply stating the fact and do not influence by emotion or personal opinion. His targeted

In the article “Type of Luxury Consumers”, the author, Robert Frank, tries to deal with the issue of the behaviour of luxury consumers. He introduces the readers that the consumers will spend their money lavishly to show wealth and status based on their economic ability. They are willing to buy expensive items with a good branding compared to the low-end product that lack of explicit markers. The author argues every type of luxury consumer has their own desire and taste to follow the trend and the effect of these consumers towards the brand management. The author agrees with the research made by the USC Marshall School of Business about this issue. This can be proved when his thought is always parallel with the study.

Luxury is very selective and exclusive which there is almost the only brand in its product category. The sense of being sophisticated and having a good taste are based on this definition. The unique attribute of each product category belongs to one brand or it is called “the icon”. Only one brand specializes in one product category, for example, Brioni for men’s suits, Hermès for leather bags, Valentino for women‟s dress, and Guerlain for cosmetics.

Q3: Discuss how exclusive brands may lose their aura of exclusiveness and fashion status, identifying possible threats to these brands?

Despite the conclusion based on existing attitude theories, there are still a great deal of skepticism on the topic as a whole. As discussed before, the origins in which attitudes are induced are unknown since it varies from personality, experiences, and media influences (Oskamp, 1991). Therefore, attitude is difficult to trace and often difficult to change (Olson, 1993). Personal factors and situational factors also play a role in customer behavior (Blythe, 2012). A consumer’s personal factors can be that they are not confident with the state of their hair or skin making them feel insecure. A situational factor can include