Fashion and Luxury Brand Management Dissertation

Document Type:Dissertation

Subject Area:Fashion

Document 1

This is a problem for both the consumers and the sellers since there is a gap in consumer satisfaction while on the other hand, the sellers experience low sales for their products. This dissertation contains three studies that evaluate consumer behavior, experience, and marketing strategies for luxury products. The aim of this paper is to research on the consumer's behavior, how consumers react to fashion and luxury products and their preference for fashion and luxury products within the market. The paper looks into consumer experiences from using fashion and luxury products. It also researches on the various methodologies that are used in marketing fashion and luxury products and what can be done to make these products more marketable. Collectively, the results of this dissertation evaluated consumer's and fashion and luxury products within the market and marketing strategies that are used. CHAPTER 1: INTRODUCTION Fashion and luxury products heavily rely on consumer behavior like attitude toward the products, consumer decision making process and difference in cultures. To make it in a business that deals with fashion and luxury products, such factors must be considered. The sizes, structure of the market, micro and macro environments are other factors that affect fashion and luxury markets. Managing a business concerned with Fashion and luxury products is a complicated task that requires sophisticated handling of creativity, corporate image and overcoming challenges f often-volatile market. It requires a lot of marketing, effective communication and advertising. In chapter two, a literature review on fashion and luxury products is reviewed.

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It highlights scholarly work on fashion and how consumer behavior on such products can be improved, their experiences and factors that affect consumer behavior. In chapter three, it highlights the strengths, weaknesses, opportunities and threats that face fashion and luxury products. Other issues discussed in other chapters include methodologies, questionnaires, survey conclusions, recommendation limitation and future research references. This research considers the theory of planned behavior (TPB) to understand the behavior of consumers who purchase luxury fashion. The main objectives include. i) Determine factors that affect luxury purchase intention and luxury purchasing behaviors (ii) Study the relative strength of subjective norm and comparing it with attitudes that affect luxury purchase intention. iii) Understand the relationship that exists between the consumers' purchase intentions and variables like attitude, subjective norm and perceived behavior control about purchasing of fashion and luxury products.

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The research paper is structured as follows, abstract, introduction, literature review, methodology, findings, conclusions and recommendations. They help [people to create a positive image when they purchase luxury products (Shukla, Hume, 2010). Fashionable hoods include accessories, handbags, shoes, watches, jewelry, and perfumes. They bring prestige to owners and make them have a social class within the society. For example, in India, some of the luxury products are Herme's, channel and Louis Vuitton that have characteristics such as high prices, high quality, great design, very rare to find, and a perfect reflection of personality and heritage value (Vigneron and Johnson, 2004). Attitude Attitude towards a certain behavior is defined as a person's positive or negative feeling towards performing the targeted behavior (Fishbein and Ajzen, 1997). An individual can be influenced by relatives, friends, colleagues or even the family members (Kim and Karpova, 2010).

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There is always a direct relationship between purchase intention and subjective norm when defining attitude and behavior towards buying substandard fashion goods among students in U. S. Studies have shown a positive relationship between intention and subjective norm (Fishbein and Ajzen, 1975). Therefore, the following hypothesis, H1b. The greatest determinant when trying to evaluate purchase intentions among Chinese is perceived behavioral control. Studies have shown a direct relationship between perceived behavioral control and intentions. It has also shown that perceived behavioral control also have a direct relationship with actual purchase behavior (Ajzen, 1991). Therefore, based on literature review, the following hypothesis is effective. H3a. It assists in understanding the fashion market and compares it with the current position of your business. Fashion and luxury industry is divided into two, creative and sales functions.

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That is the design and production on one side and sales and distribution on the other side. Strengths Strengths are those factors that give your company recognition and brand positioning. Various designers have various modes of distribution which are couture line and a ready to wear, off the rack line which is more available to customers with average income. Technological improvement is also an opportunity; this is because technology makes both production and distribution very fast and also increases the scale. Threats Politics is a great threat to fashion and luxury industry. This is because political instability will always discourage trade. This is because investors cannot do business in an environment where there is no peace. Low economy is a great threat to investors because investors cannot invest in fashion and luxury in a place where there are high chances of making profit.

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This is because research has shown that e-mail surveying is an effective way of collecting data from people of affluent class (Curasi, 2001). Before carrying out data collection, the items in the questionnaire were discussed with experts to ensure that its validity is recommendable. The questionnaire was then studied by an academician to assess each item for purposes of specificity, clarity and representativeness. A pilot survey was then conducted with 30 users of fashion and luxury products through personal interview methods to identify unclear questions within the questionnaire. An improved questionnaire was used to collect data. People who were 45 years above were about 4 percent of the total respondents interviewed. Instrument Development Established and validated scales were used to measure attitude, purchase intention, perceived behavioral control, and the subjective norm. The scales were derived from various studies conducted in areas that are related to fashion and luxury products.

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Attitudes towards luxury fashion goods and two other items of perceived behavioral control were measured on a five Likert scale, whereby "1" denoted "strongly disagree" and "5" "strongly agree. Questions that were related to purchase behavior and intention were measured using a scale with four items derived. The marketers should, therefore, design strategies bearing in mind that consumers are affected by significant others while making purchasing decisions. Addressing communication strategies would emphasize social values rather than personal values. Perceived behavioral control has shown a weak relationship between purchase intention, but on the other hand, it has a positive and significant relationship with purchase behavior. Purchase intention was found out to have a very small significance relationship with purchase behavior. Luxury dealers should, therefore, develop strategies carefully to avoid the assumption that purchase intention is a predictor of actual purchase behavior for as the study has shown, it does not hold.

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Marketers should improve the attitude of the consumer's so that purchasing intention can increase. These can see an improvement in the subjective norm hence an increase in the sales of fashion and luxury products. Fashion and luxury products to some point are determined by factors such as cultural values. Therefore, when coming up with fashion and luxury products, cultural values should be considered and not only personal values. Products should also be improved and be of high quality. The study also sampled out an audience who has experience in fashion and luxury. Future studies should focus on the whole population at large. References 1. Park, H. J.  Research Journal of Management Sciences E-ISSN, 2319, 1171. Fenech, T. O’Cass, A. Internet users’ adoption of Web retailing: user and product dimensions.  Journal of Product & Brand Management, 10(6), 361-381.

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 Qualitative research methods: Collecting evidence, crafting analysis, communicating impact. John Wiley & Sons. Voss, K. E. Spangenberg, E.

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