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’ viewpoint.

Keywords:

Cluster analysis, consumer behavior, luxury, market segmentation, perception, value,

References

Competing interests

The authors have no competing interests.

Open Access Policy

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Copyright

The authors have no competing interests.