Disadvantages Of Luxury Products
Luxury products are characteristically expensive, even though they are not necessities and offer fewer functional advantages as compared with complementary products. Luxury items consistently include important characteristics such as superb quality, craftsmanship, exclusivity, and admirable service (Dubois & Duquesne, 1993). According to Jenkings (2004) possession of luxury products helps to reflect the owner’s identity by connecting internal and external worlds. Kapferer (2001) insist that luxury goods basically include an international reputation, creativity, uniqueness, and desirability. Luxury products can reflect different degrees of luxury and distinctive (Vigneron & Johnson, 2004). Silverstein and Fiske (2001) argued that the luxury market is considered as a substantial segment in which growth in luxury consumption has been brought on by social and business factors. Luxury goods are not only demanded in the Western world, but also in emerging countries like China, Korea, India, and the Middle East (Tynan et al., 2009). There are many types of luxury products, such as fashion goods, perfumes and cosmetics, wines and spirits, jewelry and others (Jackson, 2004: Chevalier & Mazzalovo, 2008); different individual preferences in consumption of luxury products depend on types of luxury products. Among the variety of luxury products perceived as important to consumers, cars are one of the most important in terms of ownership (Hupfer & Gardner, 1971). Moreover, cars
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