ABSTRACT: products easily. Keywords: Age , luxury brands

ABSTRACT:

 

Purpose
and objectives of the study: In this study, purpose is to understand
the influence of age as well as social value on the frequency of buying luxury
branded clothes, influence to buy luxury branded clothes and intention to purchase
the same brand that they have previously purchased. Also we study the different
luxury value dimensions like financial value, functional value, individual
value and social value and how these are influenced by age of the consumer.

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Research
Methodology: Data was collected from 500 respondents in Lucknow. These people
belonged to people of both genders, different occupations, income groups,
religions, age groups, education and marital status. Their purchase behavior
has been recorded for various luxury brands for clothes in lucknow.

 

Results: It
has been observed that there is a relation between age and kind of luxury
branded clothes that consumers intend to buy and the place from where they like
to buy luxury brands. There is also a relation between age and influence to buy
luxury branded clothes and intention to repurchase the brand. Younger people up
to the age of 40 years showed a higher rating towards financial value,
materialistic value and self-identity value as compared to older people.
Younger people up to 40 years showed a higher rating towards uniqueness value
and snob value as compared to older people. There is a significant difference
in perception of usability value among people of different age groups. People in
the age group of 30-40 years showed a higher rating towards prestige value as compared
to other age groups.

 

Managerial
implications: Luxury branded clothes companies can target the right segment  of target customers by understanding how age  can influence the purchase of luxury brands of
clothes and whether there is any significant difference in financial value, functional
value, individual value and social value with respect to age of the consumer. Managers
can devise strategies to focus on  the
right target segment to sell their products easily.

 

Keywords:
Age , luxury brands of clothes, purchase behavior, social value,
financial value.