The Importance Of Luxury Brands

Chapter 1: Introduction

1.1 Background of the study

The concept of "luxury" comes from the Latin "luxuria," which means "extras of life" (Danziger, 2005). It is ‘excess, abundance, extravagant life’ which defined in Oxford Latin Dictionary, 1992. Luxury has always been a key component of international trade. Some have historical records and archaeological evidence across several millennia of human history, showing the importance of brand items such as porcelain, silk, furs, jewelery, fragrances, and spices (Jamie Plotnek, 2015). From this study, it focuses on those luxury brands that are well known internationally. In fact, 7 of the top 100 global luxury brands which are known across much of the world could be luxury products: Hermes, Louis

Furthermore, empirical research has focused primarily on several general factors that affect on purchase intention. A very little research has been done on including past experience toward purchase intention of luxury (B.Zhang, J.H Kim, 2013). Previous experiences in purchasing luxury brands might have a different effect on their towards purchase intention of luxury. Future research can include consumers ' prior purchase experience to fully understand factors that affect consumers ' attitude towards and purchase intention of luxury brands (B.Zhang, J.H Kim, 2013). Consumer behavior and attitude toward purchase intention of luxury brand are affected by individual differences as results might be different if taking other countries and cultures into consideration (Stokburger-Sauer, Teichmann, 2013). Most of studies were to examine consumers ' general attitude towards luxury fashion goods by adding insights in luxury brands literature that has as yet been slightly developed. Thus the purpose of this study is to complement the gap of past experience with an empirical investigations and theoretical discussion in luxury brand purchase

1.5 Significance of the study

To the best of knowledge, the present study is to examine this interesting aspect. The study provide the factors influencing purchase intention for luxury brand and which most important factors influencing luxury brand’s purchase intention. In this research, the significance of the study includes the following:

Considering the different potential of luxury market, the key factors associated with consumers ' towards purchasing luxury brands need to be examined in order to expand more understanding of the emerging and developed of luxury brand market and develop the best marketing strategies that might be helpful for the success of luxury brand business.

Provides both practical and empirical insights to luxury brand firms which plan to enter/expand business by indicating the key determinants related to consumers ' purchase intention for luxury fashion brands.

By discovering on purchase intention of global luxury’s consumers, it would help marketers to understand what factor is playing a more essential role in this field. Thus intention of target market could be aimed to reach