How emotions related to “self” and brand “truth” create perceptions of luxury.
Source: The Emotions of Luxury
ByPeter Noel Murray Ph.D.
When asked about luxury brands, most consumers mention unique design, great quality, high cost, and limited distribution. For many people, these are the characteristics that separate luxury from mainstream products.
A different question is why consumers buy luxury products. Studies show that the appeal of luxury is primarily psychological. These psychological factors, especially emotion, are the focus of my research.
But consumers also are rational beings; they are aware that they can buy products at mass-market retailers which have aesthetics and features similar to luxury brands but are a lot cheaper.
So how does the mind manage these complex behavioral judgments? Is the rational mind more likely to choose the mass market while our emotional mind yearns for luxury? Is it that simple?
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