Customer Buyer Behavior Regarding Luxury Goods in Peter Jones

By

ACKNOWLEDGEMENT

My thanks go out to all who have helped me complete this study and with whom this project may have not been possible. In particular, my gratitude goes out to friends, facilitator and family for extensive and helpful comments on early drafts. I am also deeply indebted to the authors who have shared my interest and preceded me. Their works provided me with a host of information to learn from and build upon, also served as examples to emulate.

DECLARATION

I, (Your name), would like to declare that all contents included in this thesis/dissertation stand for my individual work without any aid, and this thesis/dissertation has not been submitted for any examination at academic as well as professional level previously. It is also representing my very own views and not essentially which are associated with the university.

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ABSTRACT

This research study is an attempt to study the customer buyer behavior regarding luxury goods in Peter Jones. The attitude of customers is changing drastically; redefining the luxury products is a necessity today, together with the experiences of consumers and customers with the luxury products. Products which are in the category of accessible products of luxury are less expensive and more reachable for the middle class people if compared with the inaccessible products of luxury, which also signifies that the exclusiveness of the these products is a bit low and they are designed and priced mainly for the people who fall in the middle class. This research study has adopted both qualitative and quantitative research approaches. A questionnaire was composed in order to obtain the responses of the participants regarding the luxury brands. Furthermore, it includes a secondary data analysis and compiles the thoughts of the researchers from the previous researches. The participants who were surveyed mostly opt to buy luxury goods because it is a status symbol and it makes them stand out in a gathering and makes them different from others.

TABLE OF CONTENTS

ACKNOWLEDGEMENTII

DECLARATIONIII

ABSTRACTIV

LIST OF FIGURESVIII

CHAPTER 01: INTRODUCTION1

1.1. Outline of the Study1

1.2. Background and Importance1

1.4. Research Questions2

1.5. Significance of the Study2

1.6. Layout of the Study3

CHAPTER 02: LITERATURE REVIEW4

2.1. Introduction4

2.2. Luxury4

2.3. Features and Characteristics of Luxury Goods5

2.4. Brand6

2.5. Brand Equity7

2.6. Consumer Behaviour8

2.7. Buying Process10

2.8. Consumer Behaviour towards New and Improved Products12

2.8.1. Intrinsic Variables13

2.8.2. Behaviour directed toward a goal vs. experiential behaviour15

2.9. Consumer Buying Behaviour at Peter Jones16

CHAPTER 03: RESEARCH METHODOLOGY18

3.2. Research Philosophy18

3.3. Research Method20

3.4. Mixed Method Research22

3.5. Research Instrument22

3.6. Sampling Method23

3.7. Study Variable23

3.8. Literature Search23

3.9. Participants23

3.10. Research Design24

3.11. Procedure25

3.12. Data Analysis25

3.13. Ethical Concerns25

3.15. Limitations26

3.16. Reliability26

3.17. Validity27

3.18. Gant Chart27

3.19. Conclusion28

CHAPTER 04: DISCUSSION AND ANALYSIS29

4.1. Introduction29

4.2. Questionnaire Analysis29

4.3. Secondary Analysis46

4.3.1. Attitudes toward Luxury brands48

4.3.2. Social Consumption Motivations53

4.3.3. Materialism54

CHAPTER 05: CONCLUSION58

REFERENCES60

APPENDIX63

Questionnaire63

LIST OF FIGURES

Figure 1: Gender29

Figure 2: Age Group30

Figure 3: I have a high regard for people who have luxury and expensive homes, cars and clothes31

Figure 4: I like to own things that impress people32

Figure 5: I frequently buy only the things that I need33

Figure 6: I gain much pleasure from buying things34

Figure 7: I like to have my life ...