Index of Paper Presentations for the Parallel Sessions - Academy of ...

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use of these forms of money for luxury purchases is prevalent among different consumer segments such asthe Global Indians, who are extremely rich and mostly reside in the big cities. They frequently travel todifferent countries to purchase some of the latest collections from their favourite luxury brands. TheseIndians may also make purchases of some exclusive brands in India. For instance, the Reverso watch byJaeger Le Coultre was available for $4.68 million and was popular among Global Indians. There isanother class of Indians who reside in small towns of Western India such as Nagpur and Aurangabad, butare still wealthy and indulge in luxury items (Vedpuriswar, 2008). In 2010, Aurangabad witnessed the riseof the ‗Aurangabad Group‘, which consisted of top industrialists and professionals who purchased 115Mercedes-Benz cars at one time (Marpakwar, 2010). Such Indians work hard for their wealth and feel thatthey deserve to own the best to enrich their lifestyles. There is another class that comprises of youngIndians who work hard to earn their desired lifestyles. They do not have affluent upbringing and in orderto earn their living, they work on outsourced call centres. These jobs would be considered unconventionalby the older generations, but the current generation perceives these jobs as an opportunity to improve theirstandards of living. When they acquire enough money, they also purchase luxury products (Atwal andKhan, 2008). Thus, it can be stated that in India, there is no limitation on any section of society toconsume luxury products as the modern consumer could be from different professions and from big orsmall cities (see Figure 5).A factor that has resulted in the widespread awareness and consequent aspiration for luxury is theincreased media coverage of luxury brands in India. It is quite common for luxury brands to advertisethrough newspapers that have national circulation. These ads showcase brands such as Escada and reportthe latest in the deluxe lifestyles and aim to educate and inform luxury conscious audiences (Atwal andKhan, 2008).Figure 5: Effect of Social Development on Luxury Consumption in IndiaRecent Acquisition of Money by WealthyConsumersImportance of Visible and ExtravagantConsumption of LuxuryPopularity of Consumers in the SocietyLuxury ConsumersGlobal IndiansConsumers in SmallTownsPreviously Un-affluentConsumers- Extremely Rich andReside in Big Cities- Frequently TravelAbroad- Rich Industrialistsand Professionals- Feel Deserved to OwnLuxury Products- Young Consumerswho have shifted to BigCities- Work Hard to EarnBetter Lifestyles
In the case of China, luxury products are perceived to provide evidence of the wealth of the affluentconsumers and as a help to improve social standing (Degen, 2009). China is at a stage where consumerswish to show off their wealth and thus incur expenditure on luxury in order to portray their rich lifestyles(Chadha, 2008). Social development is important in its effect on luxury consumption behavior and it hasresulted in the transformation of the traditionally wealthy luxury shoppers. According to ―Luxury Brandsin China‖, (2007), the Chinese society has witnessed the dominance of the class of‗traditional luxuryshoppers‘ that is usually represented by men above the age of 35 years. They are successful individualswho have well-established networks. They also choose to buy the luxury products for themselves and theirfamilies surrounding themselves with an ambience of luxury.However, this traditional luxury shopper is now giving way to different kinds of luxury consumers,namely, the ‗new luxury shopper‘, ‗empowered women‘ and the ‗little emperors‘. The ‗new luxuryshoppers‘ consist of famous personalities and industrialists who are usually young and in the age bracketof 20 to 40 years. They are all ‗nouveau riche‘, that is, they are the first ones to acquire great wealth intheir generation. This makes them open to experiences, eager and excited to display their newly acquiredwealth, and thus purchase luxury items to fulfill their lifestyles. The ‗empowered women‘ of China arethose who have recently attained financial independence and career advancement as they have receivedgreater education and are typically employed in service industries in the private sector. They frequentlyindulge in luxury purchases. The ‗little emperor‘ consumers belong to the younger age group consisting ofteenagers and young adults. This class of consumers is the most educated, self-assured and determinedamong the entire Chinese population. It is known to be brand conscious, unrestrained, obsessed withshowing off and making others marvel at its social standing (Wong and Ahuvia, 1998; Degen, 2009).They are the only-children in their single child families, and are accustomed to their families spendingmost of the disposable income on their wants. This segment, along with the empowered female consumershas a high sense of fashion and this has led to the rise in sale of fashionable luxury products such asclothes. Moreover, all the classes of consumers are high on luxury consciousness. They know theirpreference and do not hesitate in going out of their way to locate these products. For instance, many ofthem shop from places like Hangzhou, which is a very small but affluent city in which brands like LouisVuitton, Cartier and Hermes are well established (―Luxury Brands in China‖, 2007). They even frequentlytravel to high end shopping destinations in abroad such as Japan, Macau and Europe and indulge in buyingluxury products there. Thus, the Chinese consumers have an important footprint in different parts of theworld. This has been taken advantage of by brands like Swarovski as it has aimed at targeting the Chineseaudience not only in China, but also in its stores abroad (―Refined Strategies: Luxury Extends its Reachacross China‖, 2010).Although the Chinese are aware of luxury brands, many of them are not very loyal consumers. Luxurybrands have taken note of this fact and increasingly focus on expanding their marketing efforts to informand persuade consumers to make a purchase. In order to maintain loyalty, the brands organize events toshowcase current and upcoming editions. These events are reported by the media, and thus appeal well tocurrent and potential consumers (―Luxury Brands in China‖, 2007).Education characterizes these affluent classes of Chinese consumers. About 65% of the total affluentconsumers are educated to a post graduate level, 28% are educated to college level, and only 7% do nothave even high school education. The importance of education has increased in China as the Chinese havegreater ambition and they want to take advantage of all the professional prospects before them (Degen,2009). Along with this, the educated population is greatly exposed to various media such as the Internetand mobile phones, etc. As the media exposure has increased in China, the consumers are better aware ofthe luxury products that are available in the market (see Figure 6). Luxury brands are slowly expandingtheir presence on the Internet as it provides a platform for the brands to communicate their features andbranding strategies to the consumers. It also enables consumers to search for the latest collections of thesebrands. Mobile phones have deep penetration in the market and now even they can carry Internetconnections. It is estimated that 57% of consumers prefer to receive updates on their mobile phones about
Page 1 and 2: Proceedings2012 ACADEMY OFINDIAN MA
Page 3: Anna-Lena Ackfeldt and *Neeru Malho
Page 6 and 7: A few studies have explored audienc
Page 8 and 9: Referring to Table II, data also re
Page 10 and 11: Table I.Descriptive statisticsMean
Page 12 and 13: Developing a Conceptual Framework f
Page 14 and 15: 1. IntroductionLuxury has its origi
Page 16 and 17: Figure 1: Dimensions that different
Page 18 and 19: (India and China to spur luxury gro
Page 20 and 21: (―Premium Brands Luxuriate in Chi
Page 24 and 25: the latest additions to the brands
Page 26 and 27: Western individualism (Ramamoorthy,
Page 28 and 29: watches to satisfy themselves and t
Page 30 and 31: It may be stated that the different
Page 32 and 33: ―JWT releases first ever study on
Page 34 and 35: Wiedmann, K. P., Hennings, N. and S
Page 36 and 37: (Source: TRAI)India is the second l
Page 38 and 39: suggested that benchmarking of the
Page 40 and 41: Kapoor 1 reported that business sub
Page 42 and 43: The parameters for which the respon
Page 44 and 45: Four factors were extracted, togeth
Page 46 and 47: DiscussionThe key insights from the
Page 48 and 49: eturn on marketing investment. Reta
Page 50 and 51: What is Proximity marketing?Proximi
Page 52 and 53: Conjoint AnalysisFor identifying di
Page 54 and 55: Government service/ retail organiza
Page 56 and 57: Local franchisees too prefer the re
Page 58: Adoption of alternate Technologies-
Page 63 and 64: ooth_campaign.htmlMcGovern, G.J., C
Page 65 and 66: Smirnova Maria, 0079217505094, smir
Page 67 and 68: strategy, the less might be importa
Page 69 and 70: CustomerorientationH1aPlatforminnov
Page 71 and 72: Morgan, R.E. & Berthon, P. (2008).
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judged. On the other hand, Brand (1
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hairstyles are ‗Afro-centric‘ o
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METHODSubjectsConvenience sampling
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Use of hair extensions a symptom of
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When asked to state their reasons f
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The third most predominant reason f
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Khumalo, N.P., Jessop, S., Gumedze,
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that influence the diffusion of gra
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future studies. Perry (1998) has br
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acquired during times of a bad catc
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innovation. The adopter might be in
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availability to the adopter, (2) la
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affective responses through nonverb
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Researchers acknowledge that advert
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markets as a form of sexual appeal
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constant, sexual illustrations had
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Table 2Categories and Proposed Cate
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construct Definition Examples of PV
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of understanding the type of persua
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Hovland, R., MacMahan, C., Lee, G.,
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Role of Gratitude and Obligation in
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obligation. Therefore, it is impera
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development of long term business r
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fulfilment of their desire for reco
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intentional, it has incurred some c
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This study is intending to use surv
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Cannon, Joseph P., Ravi S. Achrol,
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Martin, C. A. & Bush, A. J. (2000).
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Can we manage the influence of role
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Affective commitment (AC) refers to
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transactional theory,we draw upon t
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RESULTSConsistent with prior resear
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empowerment are perceived to be hig
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Agarwal, Sanjeev and Sridhar N. Ram
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Meyer, John P. and Natalie J. Allen
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TABLE 1CORRELATIONS FOR THE CONSTRU
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&Prof Geoff Bick(E: geoff.bick@gsb.
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and Reinartz, 2006) and sales (Ahea
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The discourse on CRM has made a tre
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These studies demonstrate that impl
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3. Conceptual frameworkThis section
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This approach is fully supported by
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The table below presents the verbat
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given by respondents are given in t
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With regards toinstitutional factor
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REFERENCESAhearne, M., Rapp, A., Ma
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(5), pp.485-508Gupta, S., Lehmann,
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RIA Policy Brief N.1, pp1-4.Scott,
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In order to understand individual c
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Research DesignResource based view
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Frank H.A. and D‘Souza J. (2004),
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Yang Q., Mudambi R. and Meyer K.E.
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INTRODUCTIONPeople in various parts
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More importantly, environmental con
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However, a number of studies have i
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pro-environmental behaviour.ANTECED
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Role of family is particularly rele
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was further revealed that though co
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This paper provides comprehensive f
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Lepisto, L. R. (1974). An Empirical
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Zimmer, M., Stafford, T. F., and St
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HypothesesCSP and Brand Equity: Ins
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Rural Penetration of Life Insurance
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life) held by an Indian consumer is
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the state of Andhra Pradesh, micro
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The data wascollected from the agen
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The percentage of ULIP business to
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public sector LIC has many satellit
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Significance of t-test is less than
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Significance of t-test is less than
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Physical presence of at least satel
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Examining the association between G
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Cross-tab analysis of economic gree
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Holbrook, M. B. (1986). Emotion in
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Model 2 - Formative Second Order Fa
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We used a 2-step structural equatio
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Measurement Model Misspecification
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DR. RAJNISH JAINAssociate Professor
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Modern retailing is aimed at facili
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and further reported that mood, inv
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strong feelings of pleasures from s
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Scale Development: Scientific proce
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Confirmatory Factor Analysis: Explo
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DISCUSSION
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Retail customer experience is a ref
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Diep, V. and Sweeny, V. (2008), ―
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Sandstorm, S., Edvardsson, B., Kris
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2. LITERATURE REVIEW2.1. Competing
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customer satisfaction (Bolton 1998,
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To account for common method varian
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elevant in emerging markets, it als
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other distribution systems, who (c)
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Deighton 2009) from the marketer to
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some of the leading academic resear
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Schultz, D., and Charles Patti (200
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Coping With Service Failure: The mo
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stress. Secondary appraisal relates
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Prior studies have extensively stud
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the disparaging effects of service
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students were recruited from variou
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Main effects of brand reputationRes
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The main objective of this study wa
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customers reason out the potential
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There are several limitations to th
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Smith, A. K., Bolton, R. N., & Wagn
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QuickTime and adecompressorare need
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Brand Communities on Social Network
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The social networking site revoluti
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strategy due to its impact brand tr
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Cova, B., & Pace, S. (2006). Brand
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Spectator-Based Brand Equity and In
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(www.gallup.com) in mid 2009, it wa
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Team-branding, thus, becomes an imp
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students. These items were measured
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Gladden, J.M. and Funk, D.C. (2002)
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Impact of Sensory Branding on Consu
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were selected by the consumers with
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Reaction to Advertisements and Bran
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„service‟ as ―an act or perfo
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proposed attributes that customers
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There are some limitations inherent
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SERQUAL Scale‖, Journal of Retail
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capabilities for stakeholder engage
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arrived at a consensus. Independent
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different levels of government to p
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NGOs and CBOs. In addition, the cor
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the information generated at each l
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A nation‘s capacity embodies the
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―…there is a lot of good work b
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manifested in many forms. Following
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Grindle, M. 1996. Challenging the S
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impacts of message concreteness in
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2004; Lee, Keller, and Sternthal 20
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Second, to examine the manipulation
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The message concreteness manipulati
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instructions) to different kinds of
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Processing: Review and Extensions,
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May, 2012a. Lillian L. Cheng, Cheng
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senses from experiences. It is a ba
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Acceptability and the Type of Infor
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IntroductionRetail banking is an es
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servicescape of retail banks in Sin
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specific aspects of service environ
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commenting in 1970 that ―For bran
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well as NSSM theory leaves signific
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experience inside the servicescape
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Several observational visits were p
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spending your time there. I don‘t
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‗Our bank is located in the centr
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That servicescape can be utilized s
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McGivern, Y. (2006). The Practice o
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