Brand prominence and social status in luxury consumption: A comparison of emerging and mature markets |
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Affiliation: | 1. University of Vaasa, Faculty of Business Studies, Department of Marketing, Wolffintie 34, FI-65200 Vaasa, Finland;2. Hanken School of Economics, Department of Marketing, Kauppapuistikko 16, FI-65100 Vaasa, Finland;3. Hanken School of Economics, Arkadiankatu 22, FI-00100 Helsinki, Finland;4. International University of Monaco, INSEEC Research Center, 2, Avenue Albert II, MC-98000, Monaco |
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Abstract: | This research investigated how the use of a prominent versus subtle branding strategy and status consumption affect consumers’ intention to buy luxury products across emerging and mature markets. To this end, an experimental study with consumers in India (emerging market) and the United States (mature market) was conducted. The results suggest that Indian (but not U.S.) consumers with a higher status consumption tendency are more willing to purchase prominently branded luxury products than subtly branded ones. On the other hand, U.S. (but not Indian) consumers with a lower status consumption tendency are more willing to purchase subtly branded luxury products than prominently branded ones. The paper discusses these findings, highlights their contribution to luxury research, and illustrates their practical value for luxury companies interested in targeting mature and emerging markets. |
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Keywords: | Brand prominence Status consumption Emerging market Mature market Luxury |
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