Scarcity as a desirable attribute of luxury fashion brands in millennial marketing

Purpose – Marketing literature considers scarcity a mechanism that increases the desirability of the offer and an inherent attribute of luxury products. This market needs to capture the millennial segment. The objective of this paper is to develop a proper scarcity strategy to be used when connectin...

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Detalhes bibliográficos
Autores: Ballina, Francisco Javier de la, Ballina, Isabel de la
Tipo de documento: artigo
Data de publicação:2019
País:España
Recursos:IE
Repositório:Repositorio IE
OAI Identifier:oai:repositorio.ie.edu:20.500.14417/3265
Acesso em linha:https://doi.org/10.22598/mt/2019.31.2.153
https://hdl.handle.net/20.500.14417/3265
https://www.scopus.com/inward/record.uri?eid=2-s2.0-85084215830&doi=10.22598%2fmt%2f2019.31.2.153&partnerID=40&md5=4cc2def36c67696a0c707deb49b9e5ec
Access Level:Acceso aberto
Palavra-chave:53 Ciencias Económicas::5311 Organización y dirección de empresas ::5311.05 Marketing (comercialización)
ODS 12 - Producción y consumo responsables
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spelling Scarcity as a desirable attribute of luxury fashion brands in millennial marketing[Nestašica kao poželjna karakteristika luksuznih marki u marketingu usmjerenom milenijalcima]Ballina, Francisco Javier de laBallina, Isabel de la53 Ciencias Económicas::5311 Organización y dirección de empresas ::5311.05 Marketing (comercialización)ODS 12 - Producción y consumo responsablesPurpose – Marketing literature considers scarcity a mechanism that increases the desirability of the offer and an inherent attribute of luxury products. This market needs to capture the millennial segment. The objective of this paper is to develop a proper scarcity strategy to be used when connecting luxury brands to millennials. Design/methodology/approach – An empirical study based on an experimental design was carried out to test the effect of each of the strategies (second line,my luxury,or exclusive selection of cheaper products) on different dimensions of how millennials perceive luxury brands (refinement,elitism,and hedonism),looking for causality relationships. Findings – The hedonism factor,closely connected with purchase experience,seems to be the most valuable for millennials and best encouraged by the second line strategy. In this way,luxury brands draw millennials into their market in a natural way,through an accessible price. But the second line strategy could imply a process of brand devaluation for the traditional customer base. Limitations – The difference in the results obtained using the “current shopping intention” and “future shopping intention” variables deserves more attention. Different ways of measuring future shopping intention could be applied to test the effects on the results. Originality/value – A different methodology,that is,an experimental study is presented to compare marketing strategies in the luxury market. In this way,a better relationship between exclusivity and the needs of millennials can be established as regards their attraction to luxury brands. © 2019,University of Zagreb,Faculty of Economics and Business Zagreb. All rights reserved.Experimental designLuxuryMarketingMillennialsScarcityyesPublishedUniversity of Zagreb, Faculty of Economics and Business Zagrebhttps://ror.org/02jjdwm7520242024202420242019info:eu-repo/semantics/articleapplication/pdfapplication/pdfhttps://doi.org/10.22598/mt/2019.31.2.153https://hdl.handle.net/20.500.14417/3265https://www.scopus.com/inward/record.uri?eid=2-s2.0-85084215830&doi=10.22598%2fmt%2f2019.31.2.153&partnerID=40&md5=4cc2def36c67696a0c707deb49b9e5ecreponame:Repositorio IEinstname:IEInglésIE UniversityAttribution-NonCommercial 4.0 Internationalhttps://creativecommons.org/licenses/by-nc/4.0/info:eu-repo/semantics/openAccessoai:repositorio.ie.edu:20.500.14417/32652026-06-15T12:40:57Z
dc.title.none.fl_str_mv Scarcity as a desirable attribute of luxury fashion brands in millennial marketing
[Nestašica kao poželjna karakteristika luksuznih marki u marketingu usmjerenom milenijalcima]
title Scarcity as a desirable attribute of luxury fashion brands in millennial marketing
spellingShingle Scarcity as a desirable attribute of luxury fashion brands in millennial marketing
Ballina, Francisco Javier de la
53 Ciencias Económicas::5311 Organización y dirección de empresas ::5311.05 Marketing (comercialización)
ODS 12 - Producción y consumo responsables
title_short Scarcity as a desirable attribute of luxury fashion brands in millennial marketing
title_full Scarcity as a desirable attribute of luxury fashion brands in millennial marketing
title_fullStr Scarcity as a desirable attribute of luxury fashion brands in millennial marketing
title_full_unstemmed Scarcity as a desirable attribute of luxury fashion brands in millennial marketing
title_sort Scarcity as a desirable attribute of luxury fashion brands in millennial marketing
dc.creator.none.fl_str_mv Ballina, Francisco Javier de la
Ballina, Isabel de la
author Ballina, Francisco Javier de la
author_facet Ballina, Francisco Javier de la
Ballina, Isabel de la
author_role author
author2 Ballina, Isabel de la
author2_role author
dc.contributor.none.fl_str_mv https://ror.org/02jjdwm75
dc.subject.none.fl_str_mv 53 Ciencias Económicas::5311 Organización y dirección de empresas ::5311.05 Marketing (comercialización)
ODS 12 - Producción y consumo responsables
topic 53 Ciencias Económicas::5311 Organización y dirección de empresas ::5311.05 Marketing (comercialización)
ODS 12 - Producción y consumo responsables
description Purpose – Marketing literature considers scarcity a mechanism that increases the desirability of the offer and an inherent attribute of luxury products. This market needs to capture the millennial segment. The objective of this paper is to develop a proper scarcity strategy to be used when connecting luxury brands to millennials. Design/methodology/approach – An empirical study based on an experimental design was carried out to test the effect of each of the strategies (second line,my luxury,or exclusive selection of cheaper products) on different dimensions of how millennials perceive luxury brands (refinement,elitism,and hedonism),looking for causality relationships. Findings – The hedonism factor,closely connected with purchase experience,seems to be the most valuable for millennials and best encouraged by the second line strategy. In this way,luxury brands draw millennials into their market in a natural way,through an accessible price. But the second line strategy could imply a process of brand devaluation for the traditional customer base. Limitations – The difference in the results obtained using the “current shopping intention” and “future shopping intention” variables deserves more attention. Different ways of measuring future shopping intention could be applied to test the effects on the results. Originality/value – A different methodology,that is,an experimental study is presented to compare marketing strategies in the luxury market. In this way,a better relationship between exclusivity and the needs of millennials can be established as regards their attraction to luxury brands. © 2019,University of Zagreb,Faculty of Economics and Business Zagreb. All rights reserved.
publishDate 2019
dc.date.none.fl_str_mv 2019
2024
2024
2024
2024
dc.type.none.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv https://doi.org/10.22598/mt/2019.31.2.153
https://hdl.handle.net/20.500.14417/3265
https://www.scopus.com/inward/record.uri?eid=2-s2.0-85084215830&doi=10.22598%2fmt%2f2019.31.2.153&partnerID=40&md5=4cc2def36c67696a0c707deb49b9e5ec
url https://doi.org/10.22598/mt/2019.31.2.153
https://hdl.handle.net/20.500.14417/3265
https://www.scopus.com/inward/record.uri?eid=2-s2.0-85084215830&doi=10.22598%2fmt%2f2019.31.2.153&partnerID=40&md5=4cc2def36c67696a0c707deb49b9e5ec
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv IE University
dc.rights.none.fl_str_mv Attribution-NonCommercial 4.0 International
https://creativecommons.org/licenses/by-nc/4.0/
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Attribution-NonCommercial 4.0 International
https://creativecommons.org/licenses/by-nc/4.0/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv University of Zagreb, Faculty of Economics and Business Zagreb
publisher.none.fl_str_mv University of Zagreb, Faculty of Economics and Business Zagreb
dc.source.none.fl_str_mv reponame:Repositorio IE
instname:IE
instname_str IE
reponame_str Repositorio IE
collection Repositorio IE
repository.name.fl_str_mv
repository.mail.fl_str_mv
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