Exploring Luxury Consumption Based on Prospect Theory

• Main Authors: Liu, Chia-Ting, 劉佳婷
• Other Authors: Tang, Ying-Chan
• Format: Others
• Language: zh-TW
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/48694254221822849743

碩士 === 國立交通大學 === 經營管理研究所 === 101 === The trend of luxury consumption has existed since ancient times till nowadays, and luxury industry has rarely slumped despite several economic recessions. With this luxury fever, today not only aristocrats but also the mass population desire to own conspicuous products. Therefore, the features of luxury consumers become increasingly diverse. Since the majority of luxury consumers have the specific schemata composing of culture, this study mainly focuses on the eastern consumers and develop the three important variables which conflict in consumers’ mind and usually make them be in the dilemma: Materialism, status signaling, and guilt. It is our key objective that we illustrate the prospect theory framework within these three key variables. In this study, we extract the main configuration that may influence the framework of prospect theory: Materialism, status, guilt, luxury cognition, and uniqueness. Also, we use cluster analysis to distribute the luxury consumers into five clusters: the economizer, the shopaholic, the show-off, the pragmatism, and the beau monde. Besides, we adopted the MANOVA analysis to understand the reference points of the five clusters. The contribution of this study is concretizing the prospect theory existing in consumer psychology. Finally, we also provide some practical suggestion for marketing strategy of luxury consumption.