Mar 23, 2022 Uncategorized

Comparison of luxury perceptions of generation X and Y consumers

. 1 Definition of luxury

Definition of term luxury – definition of the concept from several sources

1.2 Generational theory

Definition of the generational theory from several sources

1.3 Generation X

Who they are – what type of consumers they are (their relationship with media, brand loyalty)

1.4 Generation X and Generation Y as a key market for luxury

Cite several sources

1.5 Luxury value perceptions

Cite several sources;

Review on existing literature by Wiedmann, Hennigs and Siebels (2007)

+ add the conceptual model from Wiedmann, Hennigs and Siebe (2007)

1.5.1 The financial dimension of luxury value

  • Price value

1.5.2 Functional dimension of luxury value

  • Usability value
  • Quality value
  • Uniqueness value

1.5.3 The individual dimension of luxury value

  • Self-identity value
  • Hedonic value
  • Materialistic value

1.5.4 The social dimension of luxury value

  • Conspicuousness value
  • Prestige value

1.6 Generational marketing

Definition of generational marketing – benefit of segmenting by generation for marketers. Cite several sources

1.7 Outcome of the literature review