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- W2271777054 abstract "Despite recent economic downturns, there has been growth in the global luxury market (Amatuilli & Guido, 2012) with the luxury market estimated to become a trillion dollar market within the next five years (Bain, 2012). Identifying luxury consumers is difficult and confusion exists as to how to best market luxury products (Vickers & Renand, 2003; Vigneron & Johnson, 2004; Heine, 2010). Bain (2012) suggests that the luxury market is shifting and past strategies will no longer be effective as there is an increased emphasis on uniqueness, entertainment, and the experiential aspects of status products. Research though has been somewhat scarce on the topics of luxury, prestige, and status (Truong, Simmons, McColl, & Kitchen, 2008) with the construct of status consumption, in particular, neglected in consumer research (Lertwannawit & Mandhachitara, 2012). The motivation to consume status products goes beyond just income (Mason, 1992), and it is becoming more critical for managers of status brands to determine the factors that motivate status consumption and when consumers would most desire status products (Rucker & Galinsky, 2008). A better understanding of these motives is significant strategically because brands with the “right status image” can generate high value for both firms and consumers (Shukla, 2008; 2010, p. 112). Thus, it is critical to further conceptualize the construct of status consumption and suggest propositions for specific ideas to research to aid in better understanding of status consumption." @default.
- W2271777054 created "2016-06-24" @default.
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- W2271777054 date "2015-01-01" @default.
- W2271777054 modified "2023-09-26" @default.
- W2271777054 title "Conceptualizing a Model of Status Consumption Theory: An Exploration of the Antecedents and Consequences of the Motivation to Consume for Status" @default.
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