The Importance of Brand Value and Origin of Luxury Brands
The markets today, for luxury fashions and accessories, are flooded with wide number of brands that are using strong campaigns and promotions. It is found by researchers that these luxury brands could come to a particular country of origin and they are invading another area with a prestigious reputation, and all of this is because they are budgeting a big amount of money in their finance budget just to build these image.
Consumers would be looking for some understanding when choosing what to look for in a brand and which brand would give a sense of belonging to their particular choice of social group, and brands which create cues would have a better edge in capturing the market. Plus, the cues developed by these brands would have an impact on the level of consumption of their products in the market since there is a wider understanding about the brand.
For the past years, the issue of luxury consumption has paved for marketing experts to look at how to optimize and control consumer expectations with the use of the so-called management controlled factors like brand origin and brand image.
To have ideas on these management controlled factors can optimize consumer expectations, there are questions to be asked to gain knowledge, like what are the effects of branding cues such as brand origin and brand image on buying intentions, and if the developed and emerging markets will be impacted with these.
By providing answers to the issues stated above will help researchers and managers to know whether it is worth or not to allot a big budget to develop these brand image. By having answers to these issues, management would be able to standardize and adapt ideas that will help promote these luxury brands to the targeted market.
Thus, studies are done on the target consumers by countries of brand origin to accomplish the objectives.
Results from researches under the purchase intentions of luxury brands showed that consumers would rely more on the cues of the brand origin because of the nature of the market and competition. Thus there is an increasing information and exposure to the global luxury products by these mass markets since they get information from brand origin.
The next finding that researchers have found that would influence consumer purchases is the brand image, which provide connections between interpersonal influences and that of the luxury brand. The study further implies that individuals would show a higher self-brand connection if the brand image is associated with the social group of the people. Thus, the importance of brand building has been proven again to have an impact through these brand cues.