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Factors Influencing Consumer Buying Behaviour of Luxury Branded Goods KHOR ENG TATT

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Factors Influencing Consumer Buying Behaviour of Luxury Branded Goods KHOR ENG TATT CORE Metadata, citation and similar papers at core.ac.uk Provided by Repository@USM Factors Influencing Consumer Buying Behaviour of Luxury Branded Goods KHOR ENG TATT Research report in partial fulfillment of the requirements for the degree of Online Master of Business Administration UNIVERSITI SAINS MALAYSIA 2010 ACKNOWLEDGEMENT First and foremost, I would like to thank my supervisor Dr Nabsiah Abdul Wahid for her relentless support, advice and guidance throughout the entire preparations of this dissertation. Not to forget my co-supervisor Dr Maliga Marimuthu for all the assistance and guidance provided all this while. I would like to express my gratitude and a big thank you for both my supervisor and co-supervisor for willing sacrificing the time to meet up and coaching. I’m greatly touched by the commitments and dedications they have shown. Without the support and guidance, I would not be able to complete this study. I also would like to express my gratitude and thanks to Associate Professor T. Ramayah for his guidance and comprehensive lecture notes on the using the SPSS tools as well as interpreting the analysis output from the subject, ADW 615 – Advanced Business Statistics. I also would like to thank my family members for support and understanding throughout the course of the completion of this dissertation. Their endless support had been invaluable and was the force that pushed me to go on. Not forgetting also my colleagues and fellow course mates who had provided assistance and support encouragement throughout the completion of the dissertation. ii TABLE OF CONTENTS Page ACKNOWLEDGEMENT ii TABLE OF CONTENTS iii LIST OF TABLE vii LIST OF FIGURE viii ABSTRAK ix ABSTRACT x CHAPTER 1 INTRODUCTION 1 1.1 Introduction 1 1.1.1 Branding 3 1.1.2 Brand Function 4 1.1.3 Brand Association 5 1.1.4 Luxury Goods 6 1.2 Problem Statement 8 1.3 Research Objectives 9 1.4 Research Questions 10 1.5 Significance of Study 11 1.6 Structure of the thesis 11 CHAPTER 2 LITERATURE REVIEW 13 2.1 Introduction 13 2.2 Brand 13 2.2.1 Definition of Brand 14 2.2.2 Brand Image 15 iii 2.2.3 Brand Functions 18 2.2.4 Brand Identity 20 2.2.5 Brand Associations 21 2.3 Luxury Brand 22 2.3.1 Price 24 2.3.2 Perceived Quality 25 2.3.3 Social Status 28 2.3.4 Brand Loyalty 32 2.3.5 Income 34 2.4 Consumer Behaviour 36 2.5 Summary 38 2.5 Theoretical Framework 38 2.5.1 Independent Variable 39 2.5.2 Moderating Variable 39 2.5.3 Dependent Variable 39 2.6 Hypotheses statement 40 2.6.1 Price 40 2.6.2 Perceived Quality 41 2.6.3 Perceived Societal Status 42 2.6.4 Brand Loyalty 42 2.6.5 Income Level 43 2.7 Summary of Hypotheses 44 CHAPTER 3 METHODOLOGY 45 3.1 Introduction 45 3.2 Research Design 45 iv 3.2.1 Population 45 3.2.2 Sampling Procedures and Sampling Size 46 3.2.3 Survey Questionnaires 46 3.2.4 Variables 49 3.2.5 Procedures 49 3.2.6 Measures 50 3.2.7 Data Analysis 50 3.2.8 Screening Question 51 3.3 Summary 51 CHAPTER 4 RESULTS 53 4.1 Introduction 53 4.2 Profile of Respondents 53 4.3 Goodness of Measure 56 4.3.1 Factor Analysis 56 4.3.2 Reliability Analysis 58 4.3.3 Descriptive Analysis 60 4.4 Hypothesis Testing 61 4.4.1 Correlation Analysis 61 4.4.2 Hierarchical Regression Analysis 62 4.5 Summary of Results 66 CHAPTER 5 DISCUSSION AND CONCLUSION 67 5.1 Introduction 67 5.2 Recap of study objectives 67 5.2.1 Research problem 67 5.2.2 Research question 67 v 5.2.3 Research objectives 68 5.3 Discussions of the Findings 68 5.3.1 Premium price influence buying behaviour of consumer of luxury 69 branded goods 5.3.2 Perceived quality associated with the brand will influence the 70 Influence buying behaviour of consumer of luxury branded goods 5.3.3 Social status of owning a luxury branded goods influence the buying 72 behaviour of consumer of luxury branded goods 5.3.4 Brand loyalty will influence the buying behaviour of consumer of 74 luxury branded goods 5.3.5 Income level will moderate the buying behaviour of consumer of 76 luxury branded goods 5.4 Implications of the Study 79 5.5 Limitations of the Study 84 5.6 Recommendations for Future Research 85 5.7 Conclusion 86 REFERENCES 87 APPENDIX I : Questionnaire Sample 94 APPENDIX II : Factor Analysis 99 APPENDIX III : Reliability Analysis 124 APPENDIX IV : Descriptive Analysis 133 APPENDIX V : Bivariate Correlations Analysis 134 APPENDIX VI : Multiple Regression Analysis 136 APPENDIX VII : Hierarchical Regression Analysis 143 vi LIST OF TABLE Page Table 2.1 Conceptions of brand image 18 Table 3.1 Reference source for questionnaires on Independent Variable Price 47 Table 3.2 Reference source for questionnaires on Independent Variable 47 Perceived Quality Table 3.3 Reference source for questionnaires on Independent Variable 47 Perceived Societal Status Table 3.4 Reference source for questionnaires on Independent Variable 48 Brand Loyalty Table 3.5 Reference source for questionnaires on Dependent Variable 48 Consumer Buying Behaviour Table 4.1 Demographic Profile of Respondents 55 Table 4.2 Rotated Factor Analysis Results for Perceived Quality, Perceived 57 Societal Status and Consumer Buying Behaviour Table 4.3 Rotated Factor Analysis Results for Brand Loyalty and Price 58 Table 4.4 Summary of Reliability Analysis 59 Table 4.5 Overall Descriptive Statistics of the Study Variables 60 Table 4.6 Pearson’s Correlation Coefficients of the Study Variables 61 Table 4.7 Multiple Regression 64 Table 4.8 Hierarchical Regression Results Using Monthly Income as a 65 Moderator in the Relationship between Price, Perceived Quality, Societal Status and Brand Loyalty in Consumer Buying Behaviour Table 4.9 Summary of hypotheses 66 vii LIST OF FIGURE Page Figure 1.1 Maslow's hierarchy of needs 2 Figure 2.1 Brand Knowledge 16 Figure 2.2 Prestige-Seeking Consumer Behaviour 27 Figure 2.3 Theoretical Framework 38 viii ABSTRAK Pada masa dahulu pengguna membeli-belah berdasarkan nilai mata wang, iaitu pembelian are untuk mendapatkan barangan atau perkhidmatan yang diperlukan sahaja. Akan tetapi, pengguna masa sekarang membeli-belah untuk menghargai diri sendiri, bagi memuaskan keperluan psikologi atau pun untuk memuaskan nafsu diri sendiri. Pengguna masa sekarang membeli untuk membuktikan sesuatu, menampilkan personalitinya atau meningkatkan rasa keyakinan sendiri. Barangan yang dibeli kini menjadi pengesahan kesedaran. Kajian dijalankan adalah tertumpu kepada bagaimana tingkah laku pembelian barangan mewah oleh penguna. Kajian bertujuan memahami pertalian antara penbolehubah bebas (Harga, Tangappan Qualiti, Tanggapan Status Sosial dan Kesetiaan Jenama) dan pembolehubah perantaraan (Pendapatan) dengan pembolehubah tetap (Tabii Pembelian Pengguna). Satu soal-selidik disediakan berdasarkan adaptasi dari kajian terdahulu bagi topik yang sama. Soal-selidik dimajukan kepada 200 pengguna melalui pemyebaran email secara besar-besaran kepada rakan sekerja dan kawan. Jawapan soal-selidik di kembalikan dan dianalisis menggunakan perisian SPSS. Keputusan analisis menunjukan bahawa terdapat pertalian secara signifikan Tanggapan Status Sosial dan Kesetiaan Jenama dengan Tabii Pembelian Pengguna yang mana Harga dan Tanggapan Kualiti didapati tidak mempunyai pertalian secara signifikan dengan Tabii Pembelian Pengguna. Keputusan juga menunjukan bahawa terdapat interaksi yang signifikan terhadap pembolehubah pengantara, Pendapatan denga Harga, Tanggapan Kualiti dan Tanggapan Status Social dengan Tabii Pembelian Pengguna. Sepertimana dengan kajian-kajian yang lain, perwakilan populasi adalah tidak cukup besar untuk mewakili kesemua populasi yang di ingini. Oleh yang demikian, terdapat ruang untuk pembaikan kajian. ix ABSTRACT In the earlier years, consumer shopping is based on dollar value, which shopping is about acquiring needed goods and service. However, modern shoppers buy this to reward themselves, to satisfy psychological needs or to make themselves feel good. Modern shoppers buy things to make a statement, to show off their personality or to boost their self-esteem. Purchased item have become an affirmation of the psyche. The study was conducted to focus on how consumer buying behaviour reacts with regards luxury branded goods. The study also would like to understand further whether is there any interaction between the independent variable (Price, Perceived Quality, Perceived Societal Status and Brand Loyalty) and moderating variable (Income) with the dependent variable (Consumer Buying Behaviour). A survey questionnaire was developed using adaptation from earlier study done on the similar topic. Survey question was administered to 200 respondents via mass mailing of email to friends and colleagues and response was collected and analysed using Statistical Package for Social Science in short SPSS. Analysis result shows that Perceived Social Status and Brand Loyalty are significantly related to the factors affecting Consumer Buying Behaviour where Price and Perceived Quality were significantly related. Result of SPSS analysis indicated that monthly Income does not moderate the interactions between the independent variable, Brand Loyalty and dependent variable, Consumer Buying Behaviour. As for most research, the sample population was not large and diverse enough to fully represent the entire population. Hence there is still room for improvement. x CHAPTER 1 Introduction 1.1 Introduction A set of ideas that made sense a century ago shaped the modern perspective on shopping. Some of these old-fashioned ideas are people shop for dollar value, which shopping decisions make practical sense or that shopping is mostly about acquiring needed goods and services. The new mode of thought in the shopping environment is no longer sufficient to identify simple customer demand and try to satisfy them. Modern shoppers buy things to reward themselves, to satisfy psychological needs or to make themselves feel good.
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