The defining attributes of a luxury brand for consumers

Abstract

Purpose: The aim of this research is to deepen the knowledge about luxury consumption from the paradigm of symbolic consumption through a holistic and multidimensional vision, allowing us to see and understand the perceptions of university consumers.

Design/methodology: A literature review of the construct of a luxury brand is performed as part of the theoretical framework, before a descriptive and quantitative empirical study is done, based on university students completing a questionnaire. The aim is to understand their perception about the attributes situating a mark in the luxury segment.

Findings: The results of this study contribute to the existing literature on luxury, thus providing a fuller and deeper understanding of the concept. The empirical study conducted with university students provides an idea of their perceptions about the nature of a luxury brand.

Research limitations: The socio-cultural and demographic properties of the sample limit the research results to the accessible or new luxury category, and cannot be generalised for the whole sector or for other segments.

Practical implications: The knowledge of the perception of luxury of consumers is critical for optimising the strategic management of such brands. The results provide guidance for the design of communication and marketing strategies aimed at the university public, and provide the most relevant features or parameters of luxury for this consumer segment.

Social implications: The design of a marketing and communication strategy for a brand involves a thorough understanding of its consumers. Knowing the perceptions of social groups within different market segments is the first step towards an effective stimulation of their purchasing motivations.

Originality/Added value: While the luxury sector is particularly attractive for professionals and researchers, in Spain there have been no empirical studies of consumers to extract a strategic value of the conclusions for these brands.