12 noon - 1pm

Tuesday 1 June 2021

A theory of luxury products

Join the Department of Marketing and Retail Management at their next research webinar. Dr Robert Kreuzbauer will present research titled “A Theory of Luxury Products”

Free

University of Surrey
Guildford
Surrey
GU2 7XH
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Abstract:

In my presentation, I will propose a signalling-based theory of luxury goods consumption. My colleagues and I argue that luxury goods are honest (i.e., non-fakeable) signals of wealth that require the co-presence of three conditions, (1) income elastic products, (2) superior quality, and a (3) production procedure that lacks economies of scale. We contrast our theory against existing theories from economics, marketing and consumer psychology and provide empirical evidence through a series of econometric, experimental and qualitative studies. Finally, we explain the difference between luxury goods and related constructs such as premium or high-street products and discuss strategies of reputation building in the context of luxury brand management.

 

Robert Kreuzbauer obtained his PhD in Marketing from the University of Innsbruck in Austria. Before joining Surrey Business School, he worked at Nanyang Business School, Singapore and at the University of Illinois Urbana-Champaign. Robert’s current research focuses on the theoretical and empirical examination of consumer's judgment of value towards products and brands. He published his research in leading academic journals such as the Journal of The Royal Society - Interface, Journal of Experimental Psychology: General, the Journal of Product Innovation Management, Current Directions in Psychological Science.