Essay On Brand Consciousness
BRAND CONSCIOUSNESS AND PERSONAL GRATIFICATION Brand consciousness and Personal Gratification are the major influencing factors for positively influencing the purchase intention of luxury brand. {Personal gratification is linked to the need for a sense of accomplishment and social recognition, and the desire to enjoy the finer things in life}. VALUE CONSCIOUSNESS Value consciousness has a positive influence on attitudes and purchase intentions of luxury brands. It somewhere indicates that consumers who are more concerned about price over quality have more negative attitudes towards counterfeits of luxury brands. Social influence A consumer's consumption pattern is a reflection of his or her social class position. It is a more significant determinant of his or her buying behaviour than just income.62 People tend to associate themselves with the current social class position they are in or the class above them.63 Thus, they are more likely to buy branded products, which can convey brand status of affluence, wealth and social class. If brand status is important to consumers but they are unable to afford …show more content…
But in a country like India, where aspirations of the consumers are high but disposable income less as per Global standards, there is a tendency to settle for counterfeit products which are of half the quality and nearly one tenth the price. Hence, luxury brands have to play a very smart role so that their consumer base is not shifted towards the counterfeit products. Manufacturers of luxury brands should focus on measuring the purchase intention and ownership associated the brand. Counterfeit of luxury brands is only one area of counterfeiting. Other areas such as imitation, grey-area products and/or custom-made copies will also affect the intention of consumers to purchase
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