According to Mason (1981), significant levels of status consumption exist in all communities in the world. This consumption behaviour contributes significantly in shaping consumer preferences for many products. Eastman, Goldsmith, and Flynn (1999) define status consumption as “the motivational process by which individuals strive to improve their social standing through the conspicuous consumption of consumer products that confer and symbolize status both for the individual and surrounding significant others”. Status display was first examined by Veblen’s Theory of the Leisure Class (1992). The theory proposed that the major role of products is for invidious distinction to inspire envy in other through the display of wealth. Brand loyalty:
According to Jacoby and Kyner (1973), brand loyalty incorporates both an attitude and behavioural aspects to describe consumer’s overall buying behaviour within a product class. Brand loyalty can be describes as a consumer’s preference to buy a particular brand name in a product class, to make frequent purchases than comparable nonloyal customers, and to be more unlikely to switch to a competitor solely because of price(Kayaman and Arasli 2007). Consumer’s loyalty towards a parent brand can be transferred to a diffusion to yield favourable consumer evaluation. Brand loyalty provides fewer reasons for consumers to engage in extended information search among alternatives. Research has shown that consumers often use perception of the parent brand to evaluate a new product introduced under the same brand name (Aaker,1996; Delagado-Ballester and Munuera-Aleman, 2001; Ettenson and Gaeth, 1999; Rundle and Bennett, 2001). Brand Positioning
Brand naming strategies are techniques to position a brand extension either closer to or further away from the parent brand (Milberg, Park, and Lawson, 1991; Bhatt and Reddy, 2001; Bridges, Keller, and Sood, 2000; Kim, Lavack and Smith, 2001). They include sub brands, nested...
Please join StudyMode to read the full document