The Value of Luxury

What does luxury value mean? What constitutes luxury, and what does not? While previous research has focused on luxury as a global business and how companies have generated, communicated and monetized luxury, this book draws on empirical research to examine how consumers understand and interact with it. It identifies the components of luxury value, as seen by consumers, and the most influential factors that shape these perceptions. Drawing on a range of disciplinary approaches, the author investigates how consumer segments differ in their perception of luxury products, and how different generations understand value. A comprehensive overview of consumer perceptions of luxury, this book is a must-read for those students and researchers interested in luxury studies.

Autorentext

Beata Stpie is Professor in the Department of International Management at the Pozna University of Economics and Business, Poland. She has published widely on consumer behaviour and multinational companies. Her recent research has focused on how value is created in new luxury markets.

Inhalt

Introduction

Chapter 1 Complex nature of value 1.1 Value as a philosophical category

1.2.Value as a socially shaped construct

1.3. Psychological approaches to value

1.4. Understanding Value in Economics

1.5. Notion of value in consumer behaviour and management research

1.6. Value as research category - summary

Chapter 2 From traditional to post-modern value of luxury

2.1. Definition of luxury what luxury is and what it is not?

2.2. Rarity, high price and master craft - does it still exist and matter?

2.3. Prove to others or pamper myself? - public exposure and private experiencing

2.4. From moral condemn to social responsibility and sustainability promotion?

2.5. From possession to relivement?

2.6. How e-revolution transforms value of luxury?

Chapter 3 Structure and evolution of luxury business

3.1 Global luxury market - sales structure and dynamics

3.2. Global competitors' composition and the variety of strategic visions on luxury business

3.3. Luxury brands; types and positioning 3.4. Transformation of luxury business DNA

3.4.1. Supply and production strategy evolution

3.4.2. Communication strategies from discrete whisper to ubiquitous noise

3.4.3. Distribution and sales strategies from selling elites to serving all

3.4.4. Monetising strategies

3.5. Consequences of changes in luxury business development - summary

Chapter 4 Scope and methodology of examining value of luxury

4.1 Needs, preferences and attitudes and the values associated with luxury

4.2. From values to consumer behaviour

4.3 Scope and methods of luxury research - a review of empirical studies

4.4 Scope and methodology of the author's own research

Chapter 5 Perception of luxury value in different national context empirical findings

5.1 Country of residence, national culture and perception of luxury goods

5.2 Influence of national culture on consumers' perception of luxury goods - a review of other empirical research

5.3 Influence of the country of residence on consumers' perception of luxury goods - own research results

5.3.1. Social and ethical components of CVPL

5.3.2 Hedonic, functional and aesthetic components of CVPL

5.3.3 Price perception of luxury goods in relation to social and functional components of CVPL 5.4 Conclusions from the research on the diversity of CVPL in national markets

Chapter 6 Socio-demographic and psychographic consumers' features and their impact on luxury value perception empirical findings

6.1 Socio-demographic and economic characteristics and perception of luxury - preliminary remarks

6.1.1.Age as a criterion for the global segmentation of luxury consumers? 6.1.2. Gender as a differentiating factor in luxury

6.1.3 Education and perception of luxury 6.1.4 Income or materialism as a category diff...