The Impact of Materialistic Values on Thai Consumers’ Brand Engagement in Self-Concept for Luxury Products
Purpose: The present study was designed to determine whether brand engagement in self-concept was a function of materialistic values (social recognition, appealing appearance, financial success, defining success, acquisition centrality, pursuit of happiness) among Thai consumers of luxury goods. Design/Methodology/Approach: The participants were selected using multistage sampling on the basis of their shopping experience for luxury items. Multiple linear regression analysis was conducted to evaluate the best linear combination of materialistic values that could predict brand engagement in self-concept. Findings: Appealing appearance, acquisition centrality, social recognition and defining success formed the significant variate that predicted brand engagement in self-concept. Practical Implications: Taken together, these findings support strong recommendations to marketing managers of luxury products on how to tap into consumers’ values in order to market a luxury brand. Originality/Value: The study addresses the symbolic value of luxury brands and how such brands and their brand images interact with how consumers view their own identities.