Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
brand preference of youth
luxury consumer behavior essays
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: brand preference of youth
PERCEPTION ABOUT BRANDED CLOTHES AMONG THE YOUTH OF KARACHI
Literature Review
Perception is the point of view, thoughts and feelings a person has about something and acts according to his/her perceived views. Every individual has a different perception and acts according to it. The perception he/she has about specific things is considered to be the reality for him/her. Every individual holds a different perception about different branded products as well because of the differences in the importance of certain factors of the brands for each of them.
The main differentiating factor for brands in a product category is luxury (Alleres, 1991; Kapferer, 1997) which is the main reason of consumers preferring or using a brand (Dubois and Duquesne, 1993). Nevertheless, though the luxury market has been spreading widely in the past years and the marketing literature has recently seen a lot of strong interest in the study of luxury brands, still, not much has been known about how to actually monitor and market the luxury brands in the best way (Vigneron and Johnson 1999, 2004).
The actual need...
Svinos, George, and Nick Debnam. Attitudes to Luxury Brands (TNS Survey). N.d. Raw data. Monash University, Shanghai, China.
The real success beyond LV is about segmenting its unique products. According to the “Louis Vuitton and the diamond model” figure 16 the importance of the products are displayed in a diamond figure. This categorization approach about LV’s products not only segment its unique products but also is an example of how a globally well known successful brand achieve its mission in the luxury market.According to the figure 17 above, the potential contribution of the Asian consumers to the fashion leather goods category provided a different age for the brand (LVMH 2012 a: 11). It is important to highlight that Asia as a geographic region has the potential to support the growth of the revenues of the brand. Moreover, Japan is a unique country other than Asia because Japan makes 3.107 M € revenue by itself except from Asia which makes 7,895 M € revenue LVMH (2013d).According to the figure 18 above, the company shares for the the bags and luggage categories retail value is in an increasing trend according to the years between 2008-2012. This shows that there is still a demand potential for the products in this category despite the increase of prices on early basis. (Euromonitor International 2013 e).According to the figure 19 above, it is important for Louis Vuitton to be in a growing trend approximately every year. On the otherhand, it’s growing trend will help to realize it’s own paticular position compared to the luxury sector. (Interbrand 2013c).The revenue by business group growth percentages are different for 2011and 2012 compared to H1 2012 AND H1 2013 for LVMH group.Especially for “fashion leather goods” the 2011 and 2012 was more profitable compared to 2012 to 2013. What is common among the business categories is that the most re...
is the same temperature, but as defined above, perception is “the way things look to us.
Perception can be defined as the way someone views something/someone through their own eyes, it is having an overview of how someone interprets and what it means to them. Miss Columbia’s School House illustrates a woman in a long dress, and her hair is covered with a red hat that looks like a bandana. Miss Columbia is dressed this certain way to clarify
Perception is the ability to see, hear, or become aware of something through the senses. When we meet people for the first time we tend to have mixed emotions about a person both positive and negative. We tend to stereotype people for the way they look, act, and who they hang out with. As people we should think about the way we act and react to people and other things. Put yourself in other people’s shoes and see where they are coming from.
Perception (Noun) the way you think or understand something. Perception can be a funny thing astronauts. Why, perception is a nasty thing and it can play some dirty tricks on you. However, do not let perception be a bully to you and ruin your adventure to the planet Nicolas Cage. For example say you have a beautiful purple and gold sweatshirt that you believe brings good luck as you have worn it to the following: your lovely Bat Mitzvah, the time you hit that homerun and won the game, or just even when you found a shiny penny on the ground. This sweater thing being lucky is complete rubbish in fact its confirmation bias. The reason I am warning you on this is if issue you a warning that on Nicolas Cage world their be a large amount of de...
“Despite worldwide softness in the sale of luxury goods, LVMH has cemented its position as the world’s largest and most profitable player in the category. To stay there it must keep its customers loyal and its brand strong and find new markets worldwide” (Hazlett C. 2004). That is why in its mission they state to represent the most refined qualities of Western “ art de vivre” all around the world. Their objective is to be the leader in the luxury market, continuing to transmit elegance and creativity. This poses some major challenges, the main one is to keep being the leader in the luxury market through a sustainable growth. The main problem to achieve it is the high dependency on three main countries, France, Japan and USA. This becomes a threat because if there is an economic downturn in one country it affects LVMH directly that is why.
Each one of us lives in our own unique world of perception. As individuals, we may experience life in an entirely different way through our senses and life experiences. Therefore, perception can be tricky since it is very personal to each one of us. According to the Merriam-Webster online dictionary, perception has three meanings; (1) “the way you think about or understand someone or something,” (2) “the ability to understand or notice something easily,” and, (3) “the way that you notice or understand something using one of your senses” (2014, para. 1). C.S. Lewis said, “What you see and what you hear depends a great deal on where you are standing. It also depends on what sort of person you are” (n.d., para. 11). In other words,
Dubois and Czellar (2002) refer to luxury brands as those goods that can offer comfort, beauty and refinement. On the other hand, a prestige brand is referred to as a brand that has achieved a definitive level of accomplishment, either in the quality or performance. O’Cass a...
The way that each individual interprets, retrieves, and responds to the information in the world that surrounds you is known as perception. It is a personal way of creating opinions about others and ourselves in everyday life and being able to recognize it under various conditions. Each person’s perceptions are used as a kind of filter that every piece of information has to pass through before it determines the effect that it has or will have on the person from the stimulus. It is convincing to believe that we create multiple perceptions about different situations and objects each day. Perceptions reflect our opinions in many ways. The quality of a person’s perceptions is very important and can affect the response that is given through different situations. Perception is often deceived as reality. “Through perception, people process information inputs into responses involving feelings and action.” (Schermerhorn, et al.; p. 3). Perception can be influenced by a person’s personality, values, or experiences which, in turn, can play little role in reality. People make sense of the world that they perceive because the visual system makes practical explanations of the information that the eyes pick up.
Brand attitudes: it’s the consumer evaluation of brand .Keller (1993)another important impact distinctive Between 11 dimensions: product attributes, intangibles, customer benefits, price, use/ application, user, product class, celebrity, country of origin, competitors, and life style. Aaker’s and Keller’s show many topologies like price, user imagery, usage imagery, and product attributes I will identify some weakness , but it should be considered that how it’s possible to trap the content of consumer knowledge. Aaker (1991). "Sum of the total brand impression is called brand image (Herzog 1973), anything that is associated with brand (Newman 1957), and "the perception of the product" (Runyon and Stewart
-Status symbols: Sophisticated customers who value the distinctive, exclusive collection seem to value the corporate-branded version of luxury. –Philip Martiz, chairman of the board
The high pressure luxury brand industry has evolved over the last few decades from a small and selective to a multibillion dollar arena offering significant potential and growth opportunity for the luxury brands that compete within its realm. With many luxury brands competing for over $225 billion (The Economist, 2009) in revenue each year it is easy to see how strategy plays an important role.
However, when looking to create a luxury brand, one must go beyond what is required of an ordinary brand, to create something of high value and therefore high prices. So instead of just having brand values, it should have brand beliefs, as this will create a stronger emotional connection with its customers. It should aim to go beyond having a logo, but rather a set of distinguishable icons and the brand’s points of sale needs to be somewhere that connects with its customers and becomes something of a pantheon among other retail outlets. Similarly the customer segmentation should have role reversal, so the customers want to buy their products. Luxury brands should instead of actively promoting their advantages over their competitors, never push the customers into buying their products, thereby offering mystique and letting the customers make the value creation. Lastly, a true luxury brand not only offers products but rather a way of life, allowing them to branch out over several product categories, into every aspect of their customer’s
Branding on consumer purchase decisions. In order to comply with this a questionnaire was prepared and survey has been conducted among 100 respondents and data revealed that brands have strong influence on purchase decision.