AJIBM  Vol.5 No.12 , December 2015
Psychological Factors That Influence Preference for Luxury Brands: Effect of “Openness to Experience1” on Psychological Factors for the Development of Purchase Intentions
ABSTRACT
Fujiwara & Nagasawa [1] performed an empirical analysis on the relationship between personality traits and purchase intentions for food and car luxurybrands2 by using the Big Five personality traits. The results revealed that consumers with high levels of Openness to Experience showed high purchase intentions for those brands. The objective of this study was to refine those results and to reveal the characteristics of psychological factors regarding the development of purchase intentions for consumers with high levels of Openness to Experience. As a result of empirical analysis using multiple regression analysis, this study demonstrated that satisfying the need for Differentiation from Others was particularly important in developing purchase intentions for those consumers with high levels of Openness to Experience for both food and car luxury brands.

Cite this paper
Fujiwara, K. and Nagasawa, S. (2015) Psychological Factors That Influence Preference for Luxury Brands: Effect of “Openness to Experience1” on Psychological Factors for the Development of Purchase Intentions. American Journal of Industrial and Business Management, 5, 806-812. doi: 10.4236/ajibm.2015.512077.
References
[1]   Fujiwara, K. and Nagasawa, S. (2015) Relationships among Purchase Intentions for Luxury Brands and Personality Traits Based on the Big Five. American Journal of Industrial and Business Management, 5, 631-639.
http://dx.doi.org/10.4236/ajibm.2015.511063

[2]   Fujiwara, K. and Nagasawa, S. (2015) Analysis of Psychological Factors That Influence Preference for Luxury Food and Car Brands Targeting Japanese People. American Journal of Industrial and Business Management, 5, 590-600.
http://dx.doi.org/10.4236/ajibm.2015.59059

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[7]   Kapferer, J.N. and Bastien, V. (2009) The Luxury Strategy: Break the Rules of Marketing to Build Luxury Brands. Kogan Page, London, 86-88.

[8]   Chadha, R. and Husband, P. (2006) The Cult of The Luxury Brand: Inside Asia’s Love Affair with Luxury. Nicholas Brealey Publishing, London.

[9]   Rae, J. (1834) Statement of Some New Principles on the Subject of Political Economy, Exposing the Fallacies of the System of Free Trade and of Some Other Doctrines Maintained in the Wealth of Nations. Hilliard, Gray, and Co, Boston.

[10]   Veblen, T.B. (1899) The Theory of the Leisure Class: An Economic Study in the Evolution of Institutions. Macmillan, New York.

[11]   Vigneron, F. and Johnson, L.W. (1999) A Review and Conceptual Framework of Prestige Seeking Consumer Behavior. Academy of Marketing Science Review, 1, 1-15.

 
 
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