Impact of brand image, perceived price and perceived quality towards brand preference of LVMH brands

Grenada, Joceline (2018) Impact of brand image, perceived price and perceived quality towards brand preference of LVMH brands. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

Research had proven that luxury had gives consumers “highest experience and symbolic image” that motivates consumer’s preference in buying luxury products, and customers highly valued social recognition in the society. Reports had shown that there is increasing consumption of luxury products in Asia over the year. With expensive prices that are marked in luxury products therefore only limited amount of consumers are able to afford. Despite the economic condition today, facing Trade Wars and currency devaluations which could hinder customers from consuming luxury products, the consumption of luxury kept increasing over the years. Therefore these questions came to mind: First, does brand image have positive impact towards brand preference of LVMH brands? Second, does perceived quality have positive impact towards brand preference of LVMH brands? Lastly, does perceived price have positive impact towards brand preference of LVMH brands? The quantitative research will focus on LVMH and the questionnaire is distributed to 135 millennial respondents around Jakarta. This research uses online questionnaire with Likert scale to measure customer’s brand preference and this research uses independent and dependent variables. The finding results shows positive results for Brand Image, which means that millennial preference towards LVMH is highly driven by the brand image because it gives them social recognition and prestige in the society. Research shows that LVMH is proven to have great brand image but they can improve by giving better satisfaction to millennial customers. One way to do that is to make newer more futuristic and aesthetic designs and newer price segments. LVMH had done collaborations with millennial targeted brands, put newer prices on their products and uses millennial brand ambassadors to better improve their customer satisfaction in order to gain better brand image that then could improve preference for their brand.

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