Factors influencing consumer buying behaviour of luxury branded goods
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Date
2010
Authors
Khor, Eng Tatt
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Abstract
In the earlier years, consumer shopping is based on dollar value, which shopping is about acquiring needed goods and service. However, modern shoppers buy this to reward themselves, to satisfy psychological needs or to make themselves feel good. Modern shoppers buy things to make a statement, to show off their personality or to boost their self-esteem. Purchased item have become an affirmation of the psyche. The study was conducted to focus on how consumer buying behaviour reacts with regards luxury branded goods. The study also would like to understand further whether is there any interaction between the independent variable (Price, Perceived Quality, Perceived Societal Status and Brand Loyalty) and moderating variable (Income) with the dependent variable (Consumer Buying Behaviour). A survey questionnaire was developed using adaptation from earlier study done on the similar topic. Survey question was administered to 200 respondents via mass mailing of email to friends and colleagues and response was collected and analysed using Statistical Package for Social Science in short SPSS. Analysis result shows that Perceived Social Status and Brand Loyalty are significantly related to the factors affecting Consumer Buying Behaviour where Price and Perceived Quality were significantly related. Result of SPSS analysis indicated that monthly Income does not moderate the interactions between the independent variable, Brand Loyalty and dependent variable, Consumer Buying Behaviour. As for most research, the sample population was not large and diverse enough to fully represent the entire population. Hence there is still room for improvement.
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Keywords
Business Administration , Buying Behaviour