Asia Marketing Journal

Korean Marketing Association (한국마케팅학회)
권호 표지
DOI QR코드

DOI QR Code

Consumer Value and Social Media Usage on Luxury Product for Vietnamese Consumers

  • Received : 2017.10.01
  • Accepted : 2018.01.28
  • Published : 2018.01.31
Download PDF
⟨ Previous Next ⟩

Abstract

Vietnamese luxury market is rapidly growing, however, there is a few researches on Vietnamese consumers' perceptions of luxury products and influential factors in purchasing intention. The purpose of this study is to explore Vietnamese consumers' value dimensions and mediating effect of social media information for their decision making for luxury product. Data were collected using self-administered mail survey. This study examines the influences of consumers' perceptions of quality and value, and social media word-of-mouth on Vietnamese consumers' luxury purchase intention.

Keywords

References

  1. Aaker, D. A. (1992). Managing brand equity: capitalizing on the value of a brand name. Journal of Marketing, 56(2), 125-128.
  2. Agbonifoh, B. A., & Elimimian, J. U. (1999). Attitudes of developing counties towards "country-of-origin" products in an era of multiple brands. Journal of International Consumer Marketing, 11(4), 97-116.
  3. Bearden, W. O., & Etzel, M. J. (1982). Reference group influence on product and brand purchase decisions. Journal of consumer research, 9(2), 183-194.
  4. Belk, R. W., Bahn, K. D., & Mayer, R. N. (1982). Developmental recognition of consumption symbolism. Journal of consumer research, 9(1), 4-17.
  5. Berthon, P., Pitt, L., Parent, M., & Berthon, J. P. (2009). Aesthetics and ephemerality: observing and preserving the luxury brand. California management review, 52(1), 45-66.
  6. Besanko, D., & Braeutigam, R. R. (2005). Microeconomics. Hoboken.NJ: John Wiley and Sons.
  7. Bian, Q., & Forsythe, S. (2012). Purchase intention for luxury brands: A cross cultural comparison. Journal of Business Research, 65(10), 1443-1451.
  8. Boksberger, P. E., & Melsen, L. (2011). Perceived value: a critical examination of definitions, concepts and measures for the service industry. Journal of services marketing, 25(3), 229-240.
  9. Bourne, F. S. (1957). Group influence in marketing and public relations. Some applications of behavioral research, 207-255.
  10. Brucks, M., Zeithaml, V. A., & Naylor, G. (2000). Price and brand name as indicators of quality dimensions for consumer durables. Journal of the academy of marketing science, 28(3), 359-374.
  11. Brun, A., & Castelli, C. (2013). The nature of luxury: a consumer perspective. International Journal of Retail & Distribution Management, 41(11/12), 823-847.
  12. Cronin, J. J., Brady, M. K., & Hult, G. T. M. (2000). Assessing the effects of quality, value, and customer satisfaction on consumer behavioral intentions in service environments. Journal of retailing, 76(2), 193-218.
  13. D'arpizio, C., Levato, F., Zito, D., & de Montgolfier, J. (2015). Luxury goods worldwide market study. Bain and Company.
  14. Dichter, E. (1960). The strategy of desire. Transaction Publishers.
  15. Diniz, C. (2014). The luxury market in Brazil: Market opportunities and potential. Springer.
  16. Dittmar, H. (1994). Material possessions as stereotypes: Material images of different socio-economic groups. Journal of Economic psychology, 15(4), 561-585.
  17. Dodds, W. B., Monroe, K. B., & Grewal, D. (1991). Effects of price, brand, and store information on buyers' product evaluations. Journal of marketing research, 307-319.
  18. Etzioni, A. (1968). The active society: a theory of societal and political processes (No. HM101. E89 1968.) New York: Free Press.
  19. Garfein, R. T. (1989). Cross-cultural perspectives on the dynamics of prestige. Journal of services marketing, 3(3), 17-24.
  20. Goody, J. (2006). From misery to luxury. Social Science Information, 45(3), 341-348.
  21. Gorrab, D., 2013. Global Luxury Goods Sales Exceed US$318 Billion. Retrieved from Market Wired, 10-8.
  22. Grewal, D., Iyer, G. R., Krishnan, R., & Sharma, A. (2003). The Internet and the price-value-loyalty chain. Journal of Business Research, 56(5), 391-398.
  23. Grewal, D., Monroe, K. B., & Krishnan, R. (1998). The effects of price-comparison advertising on buyers' perceptions of acquisition value, transaction value, and behavioral intentions. The Journal of Marketing, 46-59.
  24. Grossman, G. M., & Shapiro, C. (1988). Foreign counterfeiting of status goods. The Quarterly Journal of Economics, 103(1), 79-100.
  25. Groth, J. C., & McDaniel, S. W. (1993). The exclusive value principle: the basis for prestige racing. Journal of Consumer Marketing, 10(1), 10-16.
  26. Harris, L. C., & Goode, M. M. (2004). The four levels of loyalty and the pivotal role of trust: a study of online service dynamics. Journal of retailing, 80(2), 139-158.
  27. Heath, M. C. (2000). Hypersensitive responserelated death. In Programmed cell death in higher plants (pp. 77-90). Springer Netherlands.
  28. Herche, J. (1992). A note on the predictive validity of the CETSCALE. Journal of the Academy of Marketing Science, 20(3), 261-264.
  29. Hirschman, E. C., & Holbrook, M. B. (1982). Hedonic consumption: emerging concepts, methods and propositions. The Journal of Marketing, 92-101.
  30. Hung, K. P., Huiling Chen, A., Peng, N., Hackley, C., Amy Tiwsakul, R., & Chou, C. L. (2011). Antecedents of luxury brand purchase intention. Journal of Product & Brand Management, 20(6), 457-467.
  31. Jalilvand, R. M., & Samiei, N. (2012). The effect of electronic word of mouth on brand image and purchase intention: An empirical study in the automobile industry in Iran. Marketing Intelligence & Planning, 30(4), 460-476.
  32. Jin, B., & Gu Suh, Y. (2005). Integrating effect of consumer perception factors in predicting private brand purchase in a Korean discount store context. Journal of Consumer Marketing, 22(2), 62-71.
  33. Kietzmann, J. H., Hermkens, K., McCarthy, I. P., & Silvestre, B. S. (2011). Social media? Get serious! Understanding the functional building blocks of social media. Business horizons, 54(3), 241-251.
  34. Kim, A. J., & Ko, E. (2012). Do social media marketing activities enhance customer equity? An empirical study of luxury fashion brand. Journal of Business Research, 65(10), 1480-1486.
  35. Kim, Y., & Wingate, N. (2017). Narrow, powerful, and public: the influence of brand breadth in the luxury market. Journal of Brand Management, 1-14.
  36. Kline, R. B. (2015). Principles and practice of structural equation modeling. Guilford publications.
  37. Hung, K. P., Huiling Chen, A., Peng, N., Hackley, C., Amy Tiwsakul, R., & Chou, C. L. (2011). Antecedents of luxury brand purchase intention. Journal of Product & Brand Management, 20(6), 457-467.
  38. Lau, G. T., & Ng, S. (2001). Individual and situational factors influencing negative wordof-mouth behaviour. Canadian Journal of Administrative Sciences/Revue Canadienne des Sciences de l'Administration, 18(3), 163-178.
  39. Lee, R. (2012). Luxury report: Vietnam a growth hot spot, Retrieved from Campaign Asia-Pacific, 12(2).
  40. Lee, J., & Nguyen, M. J. (2017). Product attributes and preference for foreign brands among Vietnamese consumers. Journal of Retailing and Consumer Services, 35, 76-83.
  41. Mai, N. T. T., & Tambyah, S. K. (2011). Antecedents and consequences of status consumption among urban vietnamese consumers. Organizations and Markets in Emerging Economies, 2(1).
  42. Maruyama, M., & Trung, L. V. (2009). High shopping frequency of Vietnamese consumers: theory and measurement. Applied Economics Letters, 16(4), 411-415.
  43. Matthaes, R. (2006). The middle class has landed, Vietnam Investment Review, 20. McCracken, G. (1990). Culture and consumer behaviour: An anthropological perspective. Journal of the Market Research Society, 32(1), 3.
  44. McDonald, H., Darbyshire, P., & Jevons, C. (2000). Shop often, buy little: The Vietnamese reaction to supermarket retailing. Journal of Global Marketing, 13(4), 53-71.
  45. Mikalef, P., Giannakos, M., & Pateli, A. (2013). Shopping and word-of-mouth intentions on social media. Journal of theoretical and applied electronic commerce research, 8(1), 17-34.
  46. Nabi, R. L., & Hendriks, A. (2003). The persuasive effect of host and audience reaction shots in television talk shows. Journal of Communication, 53(3), 527-543.
  47. Nambisan, S., & Baron, R. A. (2007). Interactions in virtual customer environments: Implications for product support and customer relationship management. Journal of interactive marketing, 21(2), 42-62.
  48. Neate, R., 2013. Recession bypasses market for luxury goods. The Guardian, 2(15).
  49. Nueno, J. L., & Quelch, J. A. (1998). The mass marketing of luxury. Business Horizons, 41(6), 61-68.
  50. O'cass, A., & McEwen, H. (2004). Exploring consumer status and conspicuous consumption. Journal of consumer behaviour, 4(1), 25-39.
  51. Okazaki, S. (2009). The Tactical Use of Mobile Marketing: How Adolescents9 Social Networking Can Best Shape Brand Extensions. Journal of Advertising Research, 49(1), 12-26.
  52. Overby, J. W., & Lee, E. J. (2006). The effects of utilitarian and hedonic online shopping value on consumer preference and intentions. Journal of Business research, 59(10), 1160-1166.
  53. Patterson, P. G., & Spreng, R. A. (1997). Modelling the relationship between perceived value, satisfaction and repurchase intentions in a business-to-business, services context: an empirical examination. International Journal of service Industry management, 8(5), 414-434.
  54. Petty, R. E., & Cacioppo, J. T. (1986). Message elaboration versus peripheral cues. In Communication and Persuasion(pp. 141-172). Springer, New York, NY.
  55. Phau, I., & Prendergast, G. (2000). Consuming luxury brands: the relevance of the 'rarity principle'. The Journal of Brand Management, 8(2), 122-138.
  56. Rao, A. R., & Monroe, K. B. (1989). The effect of price, brand name, and store name on buyers' perceptions of product quality: An integrative review. Journal of marketing Research, 351-357.
  57. Roux, E. (1995). Consumer evaluation of luxury brand extensions. In: EMAC Conference, May, ESSEC, Paris. 1971-1980.
  58. Sabiote, C. M., Frias, D. M., & Castaneda, J. A. (2013). The moderating effect of culture on overall perceived value in the online purchasing process. Service Business, 7(1), 83-102.
  59. Sashi, C. M. (2012). Customer engagement, buyer-seller relationships, and social media. Management decision, 50(2), 253-272.
  60. Sheth, J. N., Newman, B. I., & Gross, B. L. (1991a). Consumption values and market choices: Theory and applications. Cincinnati, OH: South-Western Pub.
  61. Sheth, J. N., Newman, B. I., & Gross, B. L. (1991b). Why we buy what we buy: A theory of consumption values. Journal of business research, 22(2), 159-170.
  62. Shih, H. P., Lai, K. H., & Cheng, T. C. E. (2013). Informational and relational influences on electronic word of mouth: An empirical study of an online consumer discussion forum. International Journal of Electronic Commerce, 17(4), 137-166.
  63. Shukla, P. (2010). Status consumption in crossnational context: Socio-psychological, brand and situational antecedents. International Marketing Review, 27(1), 108-129.
  64. Shukla, P. (2011). Impact of interpersonal influences, brand origin and brand image on luxury purchase intentions: Measuring interfunctional interactions and a crossnational comparison. Journal of world business, 46(2), 242-252.
  65. Shukla, P. (2012). The influence of value perceptions on luxury purchase intentions in developed and emerging markets. International Marketing Review, 29(6), 574-596.
  66. Shultz, C. J. (1994). Balancing policy, consumer desire and corporate interests: considerations for market entry in Vietnam. The Columbia Journal of World Business, 29(4), 42-52.
  67. Srinivasan, N., & Ratchford, B. T. (1991). An empirical test of a model of external search for automobiles. Journal of Consumer research, 18(2), 233-242.
  68. Strahilevitz, M., & Myers, J. G. (1998). Donations to charity as purchase incentives: How well they work may depend on what you are trying to sell. Journal of consumer research, 24(4), 434-446.
  69. Sweeney, J. C., & Soutar, G. N. (2001). Consumer perceived value: The development of a multiple item scale. Journal of retailing, 77(2), 203-220.
  70. Teas, R. K., & Agarwal, S. (2000). The effects of extrinsic product cues on consumers' perceptions of quality, sacrifice, and value. Journal of the Academy of marketing Science, 28(2), 278-290.
  71. Truc, N. T. T., Nam, T. S., Ngan, N. V. C., & Bentzen, J. (2016). Factors Influencing the Adoption of Small-scale Biogas Digesters in Developing Countries-Empirical Evidence from Vietnam. International Business Research, 10(2), 1.
  72. Truitt, A. (2008). On the back of a motorbike: Middle-class mobility in Ho Chi Minh City, Vietnam. American Ethnologist, 35(1), 3-19.
  73. Tse, D. K., Belk, R. W., & Zhou, N. (1989). Becoming a consumer society: A longitudinal and cross-cultural content analysis of print ads from Hong Kong, the People's Republic of China, and Taiwan. Journal of consumer research, 15(4), 457-472.
  74. Tynan, C., McKechnie, S., & Chhuon, C. (2010). Co-creating value for luxury brands. Journal of Business Research, 63(11), 1156-1163.
  75. Twitchell, J. B. (2003). Living it up: America's love affair with luxury. Simon and Schuster.
  76. Veblen, T. (1965). The theory of the leisure class. 1899. AM Kelley, bookseller.
  77. Vigneron, F., & Johnson, L. W. (1999). A review and a conceptual framework of prestigeseeking consumer behavior. Academy of Marketing Science Review, 1999, 1.
  78. Vigneron, F. and L. W. Johnson, 2004. Measuring perceptions of brand luxury. In Advances in Luxury Brand Management Palgrave Macmillan, Cham, 199-234.
  79. Wegener, B. (1992). Concepts and measurement of prestige. Annual review of sociology, 18(1), 253-280.
  80. Wiedmann, K. P., Hennigs, N., & Siebels, A. (2007). Measuring consumers' luxury value perception: a cross-cultural framework. Academy of Marketing Science Review, 1.
  81. Wilcox, K., Kim, H. M., & Sen, S. (2009). Why do consumers buy counterfeit luxury brands?. Journal of marketing research, 46(2), 247-259.
  82. Woodruff, R. B. (1997). Customer value: the next source for competitive advantage. Journal of the academy of marketing science, 25(2), 139-153.
  83. Zeithaml, V. A. (1988). Consumer perceptions of price, quality, and value: a means-end model and synthesis of evidence. The Journal of marketing, 2-22.
  84. Zhang, Z., Li, X., & Chen, Y. (2012). Deciphering word-of-mouth in social media: Textbased metrics of consumer reviews. ACM Transactions on Management Information Systems (TMIS), 3(1), 5.
  85. Zhao, X. (2006). Consumer-perceived value of salon hair coloring: A cross-cultural comparison of Gen Y cohorts in China and the United States. 2243-2243.