Consumer purchase intention
Purchase intention is the implied promise to one’s self to buy the product whenever one makes next trip to the market (Fandos ; Flavian, 2006; Halim ; Hameed, 2005). Purchase intention depicts the impression of customer retention. There are certain functions of the brand which have strong influence on the purchase intention of customer’s brand image, product quality, and product knowledge.
Consuming prestige products is an indicator of status and wealth; at the same time, the extreme expensiveness enhances the value of such an indicator.
(Kapferee and Bastien, 2008) pointed out that luxury has its essential role of reconstructing social stratification. That is people considered luxury as a key component to define themselves as they wish socially. Consumers are likely to pay the huge price difference for luxury brands since these products have a unique set of characteristics such as premium quality, craftsmanship, recognisability, exclusivity and reputation (MONASH University Business and Economics. 2007).
Consumer in Asia purchase luxury goods to secure social recognition and to show their status because the culture emphasizes hierarchy and status (Gao et al., 2009).
Since the market has changed and the luxury goods market has grown considerably, luxury products have been more affordable for middle class consumers. Additionally, the contribution of the Industrial Revolution played a key role in bringing in more wealth, which made luxury products more achievable for middle class consumers (Hauck & Stanforth, 2007). For example, in the United Kingdo, middle class consumers have increased by 50% towards the purchasing of luxury products (Keane & Mcmillan, 2004). There are many products that are considered as luxury, which makes the market size undeterminable. The varieties of products include automobiles, food, jewelry, fashion and accessories. Defining luxury products in terms of the middle class consumers will gain marketers advantage in product specification. Kemp (1998) explain the identifying products, which are luxurious, would help marketers to indicate the boundary in price setting (Kemp, 1998). All you need to do is to buy the right fashion goods by the right designers. Fashion has played a significant role in the history of the great civilization. The nineteenth century marked the beginning of the luxury goods and the start of many of the highly valuable luxury brands that we know today, e.g. Hermes, Cartier and Louis Vuitton in France, Burberry in England and Bvlgari in Italy.
Consumers’ buying decision is very complex. Usually purchasing intention is related with consumers’ behavior, perception and their attitude. Purchase behavior is an important key point for consumers during considering and evaluating of certain product (Keller, 2001).Ghosh (1990) stated that purchase intention is an effective tool use in predicting purchasing process. Once the consumers decide to purchase the product in certain store, they will be driven by their intention. However, purchase intention might be altered by the influence of price, quality perception and value perception (Zeithaml, 1988) and Grewaletal (1998)In addition consumers will be interrupted by internal impulse and external environment during purchasing process. Their behavior will be driven by the physiological motivation that stimulates their respond which bring them to the retail store to fulfill their need (Kim and Jin, 2001).
Previous studies have shown that price is an important variable, but other variables such as product and service quality are important in the process of customers’ purchase decision (Giovanis et al., 2013). Customers in this era are targeted by mass media and they change the consumers’ way of thinking through emotions, needs, wants and demands. Market researchers and organizations spent billions of dollarson consumer research to identify important factors that influence on consumer decisions. The analysis of consumer behavior is effective in detecting the orientation of consumers’ behavior (Thapa, 2011).