Impact Of Price On The Purchase Intention Of Consumers Regarding Luxury Products

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D. Rajasekar, Dr. M. Murasoli

Abstract

Factuallyexploring, it was the structured society which paved the way to the need for luxury. But, it was the nineteenth century which gave a new beginning to luxury brands. it was in this time that the products of luxury fashion made a drastic advancement because of the origination of the Haute Couture and sewing machine. The concept of luxury fashion took its total development by the twentieth century. The brands which were regarded to be as luxury fashion were identified as the trademarks which made the global branding as an imperative concept of business. Luxury fashion is influenced by the technology. Technology also is a driving force which uses the modern trends, involving many sectors of the society. The current study has been done to review the effect of price of luxury products on the purchase intention of the consumers towards the same.The study was carried on among the consumers of luxury products in Chennai who are selected by simple random sampling. The sample size of the study is 100 and the data from the respondents is collected with the help of a questionnaire. The analysis of the data so collected is done by performing Regression.Findings of the study show that the luxury products’ purchasers were highly influenced by the Price.

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