Factor analysis of international luxury brand perception: A case study of Balenciaga brand with Generation-Y consumers
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Abstract
The purposes of this research were 1) to explore the fashion brand perception of Balenciaga brand of Generation-Y consumers and 2) to analyze the perceived factors of fashion brand of Balenciaga’s Generation-Y consumers. Mixed methodology research was applied by conducting a focus group discussion and distributing questionnaires. The population of qualitative research were 10 Generation-Y consumers who frequently use Balenciaga brand and the population of quantitative research were 213 male and female Generation-Y consumers, as well as unisexual Generation-Y consumers who were born during 1980 – 1994 and used to purchase Balenciaga brand.
The findings showed that most of the respondents were female aged between 30 – 34 years old, private company employee with income levels 20,001 – 40,000 baht per month, and most of them used purchased 1 product of Balenciaga brand (mostly bag) through pre-order shop. Moreover, the analysis results showed that the perception of Balenciaga brand consisted of 8 groups of factors: fulfillment, high quality, differentiation, valueism, digital lifestyle, media eye-catching, top of mind and new experience. The 8 components were consistent with qualitative research.
Suggestions for luxury brand entrepreneurs who are interested in targeting Generation-Y consumers are as follows: 1) Products should be up-to-date. 2) Products should be useful and made from high quality and durable materials and they should be developed continuously. 3) Products should be designed creatively. 4) Brands should be communicated artistically. 5) Influencers should be used to create the brand perception through social network. 6) Brands should have a story or interesting content to create the brand perception. 7) Brands should create top-of-mind awareness and 8) brands should collaborate with other brands to create added value and new products.
Keywords: Balenciaga, Generation Y, Brand Perception
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