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...
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