Navigating Tradition and Ethics: Consumer Perceptions of Luxury Brands Using Animal Products
Journal Title: Journal of Economics, Finance and Management Studies - Year 2024, Vol 7, Issue 08
Abstract
This study investigates the complex relationships between consumer perceptions, brand equity, and customer loyalty in the context of luxury brands using animal products in Northern Vietnam. Employing a quantitative approach with Partial Least Squares Structural Equation Modeling (PLS-SEM), we surveyed 228 luxury consumers in urban areas. Our findings reveal that consumer perceptions significantly influence all components of brand equity - brand awareness, brand associations, and perceived quality - which in turn strongly impact customer loyalty. Notably, brand equity partially mediates the relationship between consumer perceptions and customer loyalty. The study also uncovers the dual influence of cultural factors: traditional cultural values positively moderate the relationship between consumer perceptions and brand equity, while ethical concerns exert a negative moderating effect. These results contribute to the theoretical understanding of luxury consumption in emerging markets and provide practical implications for luxury brand management. Our research highlights the need for a nuanced approach in navigating the delicate balance between leveraging cultural heritage and addressing growing ethical concerns in the luxury sector.
Authors and Affiliations
Le Minh Duc
Keywords
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- EP ID EP743475
- DOI 10.47191/jefms/v7-i8-62
- Views 43
- Downloads 0
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