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Questions And Answers About Luxury Products

1527 words - 7 pages

d) Based on the results in question 4a,

(2) How does a brand name or country of origin work as a heuristic(2 marks)?
Heuristic or rules of thumb are general decision making strategies people use that are based on little information, yet very often correct; heuristics are mental shortcuts that reduce the cognitive burden associated with decision making (Shah & Oppenheimer, 2008). In this case, consumers always see an Italian product with the exemplar of luxury brand. Thus, they may assume all Italian based product is always expensive, exclusive, unique, high price and comfortable. Meanwhile, consumer may also assume that all products from China were all low quality, cheap and not long lasting based on what they heard and see on the television or friends.

(3) Do ratings change as a function of the country of origin? Explain why or why not. (4 marks)
Yes. It is because the perceived theoretical relationship between the cue of country of origin and the attributes of a product is largely conducted by product-country images, among which quality as a representative of a country’s production has an important effect on consumers’ evaluations of products (Broniarczyk & Alba, 1994). For example, Korean music has been famous worldwide and because of this consumer may purchase their products to align with trends of Korean stuff and perceived that their product is good. In this case, ratings will be more on very likely rather than very unlikely on each attribute. In the other way, consumer may think that Australian is well-developed country, thus they will assume that all of their product were high quality and worth-buying. Thus, the ratings will be more on very likely rather than very unlikely on each attribute in the questionnaire. Most of Chinese products were well-known because they manufactured counterfeit products, thus consumer may perceive that the counterfeit product were not as good as original and have low quality. The ratings will be more on very unlikely on each attribute rather than very likely. Italy is famous because of their success in the world of fashion, thus the consumer will assume that all products manufactured from their country were all high in quality and easily gain trust from consumers. In this case, ratings will be more on very likely rather than very unlikely on each attributes presented.

(4) Are there any significant differences or similarities between domestic versus foreign brands for EACH fashion product (eg. A Chinese luxury brand versus an Australian luxury brand)? (5 marks)
Differences between domestic brands which is Australian brands versus Korean brands is an Australian product (shoes) have comfort and colour as their strongest attributes meanwhile Korean product (jeans) have easy of care and durability. They also have differences on weakest attributes which Australian product has good fit, meanwhile Korean product have colour as their weakest attributes. Vice versa, both of the brands have quality as the...

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