Consumption of luxury goods in Brazil : purchasing motives and values of Brazilian consumers and implications for marketing

• Autor(a) principal: Teiking, Alina
• Data de Publicação: 2016
• Tipo de documento: Dissertação
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10400.14/22879
• topic: Domínio/Área Científica::Ciências Sociais::Economia e Gestão

Aiming at success in the currently challenging Brazilian market, luxury firms must consider a number of factors. Not only the adaptation to certain economic and political conditions but also the understanding of Brazilian luxury consumers’ characteristics as well as their value perceptions towards luxury are crucial in order to create an effective marketing strategy. This study investigated the value perceptions and purchasing motives of 428 Brazilian consumers. Brazilians purchase luxury goods in order to conspicuously put them on show to certain social reference group or to the general public. Thus, they display their wealth, income and social status. Social groups therefore play a distinct role in the purchasing decision process. Moreover, Brazilians are found to be hedonic consumers, seeking pleasurable moments and the reduction of stress when consuming luxury products. In addition to that, they use luxurious products to express their own personality. Brazilians hence place a much higher importance on self-expressive, emotional product benefits rather than on rational, functional product benefits. Marketers of luxury goods are advised to make use of this knowledge in order to adequately address consumers’ needs, wants and beliefs. The study focuses on consumers living in Rio de Janeiro and does not take into account different value perceptions on different luxury product categories. Therefore, suggestions for further research include replicating the study in different Brazilian regions and probing for differences among product categories.