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Building Luxury Brands Across Borders: How to Strategically Position Luxury Brands across Colombia, Peru, & Venezuela

Description

This paper investigates how a luxury fashion brand would be able to strategically position itself within Colombia, Peru, and Venezuela. It specifically looks at consumers' perceptions of general and visual branding strategies such as international and local positioning. Secondary research was conducted on domestic and international branding strategies, standardization and…

This paper investigates how a luxury fashion brand would be able to strategically position itself within Colombia, Peru, and Venezuela. It specifically looks at consumers' perceptions of general and visual branding strategies such as international and local positioning. Secondary research was conducted on domestic and international branding strategies, standardization and adaption techniques, and cultural business differences between the three countries. After primary research was completed through a survey and multiple interviews. The survey looked into perceptions of international and local brands of each country. The survey was an A/B test where participants were either given questions surrounding a local or international brand description and advertisement visuals. With the interviews, they provided a baseline of information from Colombian consumers on general perceptions of luxury brands, products, and the memories associated with them. Overall, it was found that Columbian participants had more positive perceptions of international brands, Peruvian participates had a more positive perception of local brands, and Venezuelan participants did not have a significant preference for either. Based on these findings, recommendations were made suggesting possible brand positioning and entry strategies for companies wanting to expand throughout Colombia, Peru, and Venezuela. The continuation of this paper includes an analysis and interpretation of the findings, the limitations of the research, and the possible future direction and continuation of this research.
ContributorsHiggins, Katey (Author) / Gray, Nancy (Thesis director) / Mauricio, Mejia (Committee member) / Dean, W.P. Carey School of Business (Contributor) / Department of Marketing (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05

Compensatory Consumption: How Sales Associates’ Behavior Influences Consumers’ Willingness to Purchase Aspirational Brands

Description
Aspirational brands such as luxury brands have a tendency to make consumers feel rejected in retail environments. Previous studies show that this rejection actually increases consumers’ positive feelings toward the brand. In this research, however, we suggest that this finding might not hold for all customer segments. Specifically, we suggest…

Aspirational brands such as luxury brands have a tendency to make consumers feel rejected in retail environments. Previous studies show that this rejection actually increases consumers’ positive feelings toward the brand. In this research, however, we suggest that this finding might not hold for all customer segments. Specifically, we suggest that for those customers who feel insecure in a certain domain (e.g., feel insecure about their social standing), rejection by a brand that is aspirational in that domain (e.g., a status-signaling brand) might backfire. Two experiments and a separate field study provides evidence that is consistent with these predictions. These results are discussed in depth, including limitations and future possibilities to further the study.
Aspirational brands are defined as brands that tap into the ideal self-concept (Ward and Dahl, 2014). For example, people who aspire to have high social standing view luxury brands as aspirational. Presently, most sales associates from aspirational brands are encouraged to display judgmental behavior when interacting with customers (Neuman, 2014). This is supported by past research that has shown that creating space between the customer and the brand increases the customer’s wants and needs to associate even more with this aspirational brand. This deliberate space between the brand and customer increases their desire to be recognized by that brand. (Ward and Dahl, 2014, p. 590).
ContributorsDunaway, Audrey Claire (Co-author) / Rosenfeld, Rachel (Co-author) / Kinnerup, Tina (Co-author) / Lisjak, Monika (Thesis director) / Mandel, Naomi (Committee member) / Department of Information Systems (Contributor) / Department of Marketing (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05