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Trading-Up Mass-markets Goods to Luxury Products

Author

Listed:
  • Klaus Heine

    (EM - EMLyon Business School)

  • Michel Phan

Abstract

This paper addresses the current lack of consensus on what defines a luxury product. It demonstrates the adequacy of a consumer-oriented approach anchored in a list of product attributes. These attributes were identified from the literature and a study of 31 German millionaires with high spending on luxury goods. A combination of five research methodologies was employed including open interview, the repertory grid method (RGM), the preference differences technique, the critical incident technique and the projective technique. The findings suggest that consumers distinguish luxury products using six major characteristics: price, quality, aesthetics, rarity, extraordinariness, and symbolic meaning. The paper concludes with practical implications for luxury brand managers and for those who wish to trade up their mass-market goods. Suggestions for further research directions are also offered.

Suggested Citation

  • Klaus Heine & Michel Phan, 2011. "Trading-Up Mass-markets Goods to Luxury Products," Post-Print hal-02312947, HAL.
    • Handle: RePEc:hal:journl:hal-02312947
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    Citations

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    Cited by:

    1. Giuseppe Colella & Cesare Amatulli & Maria Pilar Martinez-Ruiz, 2020. "Social Media Marketing and Luxury Consumption: A Literature Review," International Journal of Marketing Studies, Canadian Center of Science and Education, vol. 11(4), pages 1-30, March.
    2. Kilsheimer Eastman, Jacqueline & Iyer, Rajesh & Babin, Barry, 2022. "Luxury not for the masses: Measuring inconspicuous luxury motivations," Journal of Business Research, Elsevier, vol. 145(C), pages 509-523.
    3. Zahra MajlesiRad & Abdol Hamid Haji pour Shoushtari, 2020. "Analysis of the impact of social network sites and eWOM marketing, considering the reinforcing dimensions of the concept of luxury, on tendency toward luxury brand," Future Business Journal, Springer, vol. 6(1), pages 1-19, December.
    4. Estelle Dinh & Hans Mühlbacher & Mariaterasa Torchia, 2024. "Necessary perceptions of family values and luxury characteristics for brand luxuriousness: evidence from luxury watch brands," Journal of Brand Management, Palgrave Macmillan, vol. 31(1), pages 58-78, January.
    5. Songyee Hur & Sejin Ha, 2023. "Would luxury brands benefit from empowering consumers in product decision-making?," Journal of Brand Management, Palgrave Macmillan, vol. 30(6), pages 516-534, November.
    6. Ken Kumagai & Shin’ya Nagasawa, 2020. "Launch of Sustainable Plastic Apparel: Effects of Brand Luxury and Experience on Consumer Behaviour," Sustainability, MDPI, vol. 12(18), pages 1-15, September.
    7. Loureiro, Sandra Maria Correia & Jiménez-Barreto, Jano & Romero, Jaime, 2020. "Enhancing brand coolness through perceived luxury values: Insight from luxury fashion brands," Journal of Retailing and Consumer Services, Elsevier, vol. 57(C).
    8. Kauppinen-Räisänen, Hannele & Mühlbacher, Hans & Taishoff, Marika, 2020. "Exploring consumers’ subjective shopping experiences in directly operated luxury brand stores," Journal of Retailing and Consumer Services, Elsevier, vol. 57(C).
    9. Paul, Justin, 2019. "Masstige model and measure for brand management," European Management Journal, Elsevier, vol. 37(3), pages 299-312.

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