Comparison of luxury perceptions of generation X and Y consumers – literature review

  

Comparison of luxury perceptions of generation X and Y consumers – literature review

1. 1 Definition of luxury

Definition of term luxury – definition of the concept from several sources

1.2 Generational theory

Definition of the generational theory from several sources

1.3 Generation X

Who they are – what type of consumers they are (their relationship with media, brand loyalty)

1.4 Generation X and Generation Y as a key market for luxury

Cite several sources

1.5 Luxury value perceptions

Cite several sources;

Review on existing literature by Wiedmann, Hennigs and Siebels (2007)

+ add the conceptual model from Wiedmann, Hennigs and Siebe (2007)

1.5.1 The financial dimension of luxury value

• Price value

1.5.2 Functional dimension of luxury value

• Usability value
• Quality value
• Uniqueness value

1.5.3 The individual dimension of luxury value

• Self-identity value
• Hedonic value
• Materialistic value

1.5.4 The social dimension of luxury value

• Conspicuousness value
• Prestige value

1.6 Generational marketing

Definition of generational marketing – benefit of segmenting by generation for marketers. Cite several sources

1.7 Outcome of the literature review