Luxury Consumer Behaviour 6 à 8 Flashcards
External Factors
Social Media
Income and Social Class
Culture and Subculture
Brand Communities
they aligns with consumers
*Informal social influence
= adjust their attitudes or behaviors to align with the norms and values of the community.
*Normative social influence
= explicit or implicit pressure to conform to the norms and expectations of a group in order to be accepted
Word of Mouth
Help us be aware of a product
Can be damaging for a product/brand
Rumor definition
company is saying something and the rumor says the other
Mass media exemples
Use of the radio to educate and express ideas
ex: Hitler and Roosevelt
New model to control and talk to more people
Seeking alternatives
- Two step flow model (talk to the opinion leader like influencers and they will talk to individuals)
- Word of mouth
Social Class
Way of life
Factors: education, culture, work
Luxury c.b new segmentation
- Luxury Fonctional
- product will last
- logical decision - Luxury is a reward
- demonstrate success
- say: i’ve made it - Luxury is indolgence
- Self indolgence
- emotional approach
- more impulse buying
Mass class definition
the ones able to buy luxury items on a small scale
Social class around the world
China
Japon
Middle east
UK
Culture is socielty’s personality
- Society dictates ethycs values
- consider cultural context
- how to view a product
Culture determine the overall priorities and dictate the way you consume
Myths definition
story with symbolics, elements symbolizing cultures
- Mythical ways to see culture
- stories to express culture’s values
Rituals definition
good business (for ex weddings - rite of passage, social injunction)
Rituals and luxury are closely linked
3 compo to make an attitude
Beliefs
Affect
Behaviour
Power of Attitude
Predisposition to evaluate a product positively or negatively
Determine wether you purchase or not
Standard learning hierarchy
Cognition - affect - behaviour
Low involvment hierarchy
Cognition - behaviour - affect
Experimental hierarchy
affect - behaviour - cognition
Communication’s model
Persuasion (attempt to change consumer’s attitude)
Consensus ( more willing to give when others are doing it)
Reciprocity (More likely to give when you receive)
Authority (technique you use with celebrity or professors)
Elements that make the message more valuable
Attractiveness
Credibility
Effectiveness of a message
Fear
Humour
Sex references
7 steps to effective decision making
- Identify the decision
- Collect informations
- Look for alternatives
- Compare
- Choose the best decision
- Bring into action
- Analyze and review
Shopping experiences
Influences the buying
Experience in the store
Consumer’s needs and want
Sustainable Luxury
Make the business more sustainable and not especially for the planet
