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2013 (Vol. 5, Issue: 05)
Article Information:

Segmenting Consumers Based on Luxury Value Perceptions

Bahar Teimourpour, Kambiz Heidarzadeh Hanzaee and Babak Teimourpour
Corresponding Author:  Bahar Teimourpour 

Key words:  Cluster analysis, consumer behavior, luxury, market segmentation, perception, value,
Vol. 5 , (05): 1681-1688
Submitted Accepted Published
July 24, 2012 August 21, 2012 February 11, 2013
Abstract:

This study seeks to discover consumer segments by using a multidimensional concept of luxury by encompassing functional, individual and social components in the luxury market. Survey data was collected from 1097 consumers in Iran. Eight luxury factors were indentified through an exploratory factor analysis. These factors are used for segmenting these consumers with the K-means method. Cluster analysis of the data resulted in four different behavioral style segments namely: non-luxury consumers, rational consumers, social seeker consumers and materialistic consumers. Each segment shows the importance of luxury value dimensions differently. This study sheds light on the differences between consumers’ perception about luxury value, which helps marketers to choose their marketing strategies more consistently with the consumers’ viewpoint.
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  Cite this Reference:
Bahar Teimourpour, Kambiz Heidarzadeh Hanzaee and Babak Teimourpour, 2013. Segmenting Consumers Based on Luxury Value Perceptions.  Research Journal of Applied Sciences, Engineering and Technology, 5(05): 1681-1688.
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ISSN (Online):  2040-7467
ISSN (Print):   2040-7459
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