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Abstract

During the early years, Luxury goods were once seen to be a privilege to own. However, as time has passed and the luxury goods industry has expanded significantly, luxury goods have become more affordable to middle-class buyers. Through this research paper it has been understood that Consumer Perception, Brand Trust, Brand Loyalty, Brand Commitment are directly associated and have significant impact on purchase intention. Consumers purchase intention has the potential to expand the market towards its preferred brand. Customers having trust on the brand and satisfied after using it would be the best possible preferred brand in creating the awareness of purchase effectiveness. Also brands which are at all not popular in the market may have some negative impact, through customer preference analysis, on customer’s perception towards the brand. Here, successful brands can effectively improve its visibility and its loyalty attitude on customer’s mind to gain popularity in the market place. Brand loyal customers believe in being attached with their preferred brands and love to share their word of mouth in promoting the brand. The most important finding of the study is that brand trust can help organization in effectively recognizing its satisfied customer to expand its market and consumer base. The findings of our study support previous research findings that consumers generally act in accordance with the perceived luxury values of their reference groups. The study's findings also demonstrated that the elements influencing customers' buy intent are more powerful than their influence on functional value, implying that consumers have a favorable brand attitude toward their favorite/preferred brand. Hence the results of this study add to the growing literature of the purchase intention of the consumer towards luxury products by taking into consideration the impact different variables on consumers’ purchase in aspect of luxury goods. The study's findings also demonstrated that the elements influencing customers' buy intent are more powerful than their influence on functional value, implying that consumers have a favorable brand attitude toward their favorite/preferred brand.

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