Measuring Consumers’ Luxury Value Perception: a Cross-Cultural Framework

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Wiedmann, Hennigs, Siebels / Measuring Consumers‘ Luxury Value Perception: A Cross-Cultural Framework Measuring Consumers’ Luxury Value Perception: A Cross-Cultural Framework Klaus-Peter Wiedmann Institute of Marketing and Management Leibniz University of Hanover Nadine Hennigs Institute of Marketing and Management Leibniz University of Hanover Astrid Siebels Institute of Marketing and Management Leibniz University of Hanover Klaus-Peter Wiedmann is Chair of the Marketing Department and a Professor of Marketing, Nadine Hennigs and Astrid Siebels are Research Assistants at the Institute of Marketing and Management, Leibniz University of Hanover, Germany. Correspondence concerning this article should be addressed to Professor…show more content…
A customer‘s luxury value perception and the motives for luxury brand consumption are not simply tied to a set of social aspects of displaying status, success, distinction and the human desire to impress other people, but also depend on the nature of the financial, functional and individual utilities of the certain luxury brand. Pointing to the fact that luxury value lies in social and individual as well as in functional and financial aspects, it is important to synthesize all relevant cognitive and emotional value dimensions in a multidimensional model. Our model might be a useful instrument for both academics and practitioners who want to better understand consumer behavior; it may also serve as a basis to successfully create, market and monitor luxury brands or products in a crosscultural context. Even if the world of luxury products is not homogeneous, we believe that the underlying consumer motives and desires transcend national boundaries in a structure that derives from the individual‘s situation and the luxury value dimensions. Our multi-dimensional model integrates these consumers‘ value perceptions from different perspectives. Encompassing cognitive and emotional dimensions, it might already lead to a better understanding of the conditions and drivers of luxury product perception and to
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