Individual Consumer Behavior
One of the main topics of this thesis is the luxury and what exactly determines it. The purpose of this thesis is to comprehend the behavior of Azerbaijani men when they buy luxury brands so that consumer behavior theories will be included in this literature review.
2.1. What defines luxury?
For many people, luxury is something that only certain group of individuals and not the others. However, today it is complicated to define luxury.
Luxury - the state of great comfort and extravagant living or an inessential but desirable item.( Oxford, 2009). Today, however, the number of luxury items gets higher, and the competition increases, and when as the golden rule of economics state, the rise in supply makes the price shift down. So, more
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(Wiedmann and Hennings, 2007). Luxury clothing is believed to show persons internal values, which is to buy an extravagant dress and impress others, and that helps to create a specific reputation and image.( Eagly and Chaiken 1993; Wiedmann and Hennings 2007, Kamolwan and Jirawattananukool 2010). Hence, internal personal values are the best way to elaborate and explain the relationship between consumer behaviour and luxury brands. Here are the following internal personal values that help to make the analyses: ethnocentrism, materialism, conformity, the need for uniqueness and …show more content…
( Netemeyer, 1995). This internal personal value is called vanity; that should be studied as the purchasing decision to buy luxury fashion brands.
One of the pivotal elements of personal value is consumer ethnocentrism that studies how much people prefer domestic products more than imported products that help to understand the relationship between consumer purchasing intentions and consumer ethnocentrism.
Watsons and Wright (2000) state that marketing managers find it useful to the level of consumer ethnocentrism.
According to Watsons and Wright ( 2000) exclaim, that people who have a higher consumer ethnocentrism are more reluctant to buy products from countries that share the same cultural contrast and do not favour goods from those that are different. Also, consumer ethnocentrism is vital when understanding the behaviour of individuals towards imported products, and for this particular thesis it indeed very significant ( Shimp and Sharma,
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