Article2012

Luxury customer value

Ho Jung Choo · Heekang Moon · Hyunsook Kim · Namhee Yoon

225 citations0/0 files storedJournal of Fashion Marketing and Management

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Consumer Behavior in Brand Consumption and Identification Customer Service Quality and Loyalty Consumer Retail Behavior Studies

Abstract

Purpose The purpose of this paper is to conceptualize luxury customer value and empirically test the reliability and validity of the proposed structure of it. In addition, it aims to identify luxury customer value factors that influence brand relationship and behavioural intention. Design/methodology/approach A thorough literature study produces a comprehensive model of luxury consumer value. For an empirical test of the model, a web‐based on‐line survey is performed using a consumer sample in Korea. Statistical tests including CFA, second order factor analysis and structural model testing using covariance analysis are conducted. Findings The findings show that the luxury customer value represents a second‐order construct. The results provide satisfactory support for the four‐value structure model composed of utilitarian, hedonic, symbolic and economic values. Utilitarian value includes excellence and functional values, whereas hedonic value encompasses aesthetic, pleasure and experiential values. Symbolic value is reflected in self‐expressive and social values. Regarding the effect of luxury customer value on relationship quality, customers who perceive high symbolic, economic and functional values for luxury brands are more likely to develop a positive relationship with the brands. Originality/value In an attempt to confirm the luxury customer value structure in an emerging economy under a collective culture, this study expands previous studies on the conceptualization of luxury customer value. Through the empirical phase of the study, measures with both high reliability and validity for luxury customer value are produced, which will provide great benefits for further studies in the subject area. The association between customer value and brand relationship is examined.

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References

1988Consumer Perceptions of Price, Quality, and Value: A Means-End Model and Synthesis of Evidence 1996The Behavioral Consequences of Service Quality 2007Service-dominant logic: continuing the evolution 2004Co-creation experiences: The next practice in value creation 1994Work and/or Fun: Measuring Hedonic and Utilitarian Shopping Value 1982Hedonic Consumption: Emerging Concepts, Methods and Propositions 1991Why we buy what we buy: A theory of consumption values 1997Customer value: The next source for competitive advantage

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