Work

Segmenting Consumers Based on Luxury Value Perceptions

Year: 2013

Type: article

Abstract: This study seeks to discover consumer segments by using a multidimensional concept of luxury by encompassing functional, individual and social components in the luxury market. Survey data was collected from 1097 consumers in Iran. Eight luxury factors were indentified through an exploratory factor analysis. These factors are used for segmenting these consumers with the K-means method. Cluster analysis of the data resulted in four different behavioral style segments namely: non-luxury consumers, rational consumers, social seeker consumers and materialistic consumers. Each segment shows the importance of luxury value dimensions differently. This study sheds light on the differences between consumers’ viewpoint.

Source: Research Journal of Applied Sciences Engineering and Technology

DOI: 10.19026/rjaset.5.4923

Authors: Bahar Teimourpour, Kambiz Heidarzadeh Hanzaee, Babak Teimourpour

Institutions: Tarbiat Modares University, Islamic Azad University, Science and Research Branch, Islamic Azad University, Tehran, Islamic Azad University, West Tehran Branch

Language: English

Topic: Consumer Behavior in Brand Consumption and Identification

Subfield: Marketing

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: hybrid

OpenAlex ID: W2337448997

FWCI: 9.887

Cites: 31

Cited by: 20

Related to: 10