Research On Influence Of Luxury Value Perception For Parent Brand On Purchase Intention For Extended Product In Chinese Context

With the sustained recovery of the world economy and the positive adjustment of national policies,the global luxury market has started to warm up overall.For the foreseeable future,Chinese consumers will remain the dominant force in global luxury consumption.On the other hand,as a basic business model of luxury companies,brand extension can help luxury brands grow faster.But enough attention should be paid to the applicability of the luxury brand extension strategy in the Chinese context.On the basis of defining the core concepts of the research,from the perspective of service oriented logic,this paper expounded the source of customer value perception,analogized the theory of customer's evaluation process of brand extension,discussed the connotation of Chinese contextualization and the luxury consumption in China,laid a theoretical foundation for the in-depth exploration of the influence of the luxury value perception for parent brand on the purchase intention for extended product in Chinese context.Adopting the semi-structured interview method and the qualitative research paradigm of "grounded theory",this paper built the conceptual model of the luxury customer value perception for parent brand in Chinese context.The structural equation model is introduced to make confirmatory factor analysis,the proposed conceptual model was proved that it consists of five dimensions,the second order factors of which include function value perception,financial value perception,individual value perception,social value perception and brand relationship value perception.This study not only enriches the research on luxury value perception,but also be the research premise for further exploring luxury brand extension in Chinese context.Based on the emotional-migration and demand-association theory,reinforcement theory,analogy learning theory and classification theory,in the situation of introducing the proposed concept model of luxury customer value perception for parent brand applied to the luxury brand extension issues,this paper analyzed the influence of various customer value perception dimensions for parent brand on purchase intention for extended product by structural equation model.The results showed that various customer value perception dimensions for parent brand positively influences purchase intention for extended product,and financial value perception has the most impact.This discovery provides an important inspiration for the strategies chosen by luxury enterprises to expand the market.Furthermore,combined with the expectation dis-confirmation theory and Zimmel's theory of trust,this paper restructure the internal mechanism theory of the relationshipbetween customer value perception for the parent brand and purchase intention for extended product,analysis and empirical test the chain mediating effect of customer satisfaction and brand trust on customer value perception for the parent brand and purchase intention for extended product.The results showed that customer satisfaction and brand trust play a partial chain mediating role on the influence of function value perception,financial value perception,brand relationship value perception for parent brand on customer purchase intention for extended product,but play a fully chain mediating role on the influence of individual value perception and social value perception for parent brand on customer purchase intention for extended product.This study further extended the theoretical breadth and depth of the luxury brand extension model.In order to further examine the effects of Chinese context on luxury marketing,this paper elaborated three doctrines of Confucianism,Taoism and Buddhism which stand in the pillar position in Chinese traditional culture,confirmed the dominant effect of Confucian cultural thoughts in the mind of Chinese nation culture.Through the method of grouping linear structure equation model,the theoretical model of the influence of customer's social value perception on customer satisfaction was tested in samples of different Confucian cultural values.The results showed that there are difference for luxury value perception's effect on customer satisfaction in different groups,also as status symbol value perception's effect on customer satisfaction.Finally,noted that luxury brand and Non-luxury brand in the difference of cultural connotation and history inheritance,the introduction of brand extension authenticity as the measure of parent brand and extended product in brand extension strategy.The multi-layered and complex concept of brand extension authenticity was deeply analyzed and compared with the brand extension fit.This paper analyzed and examined the moderating effect of brand extension authenticity on customer's brand trust and purchase intention for extended product.The results showed that under different strategies of brand extension authenticity,the influence of brand trust on purchase intention for extended product is different.This paper applied the method of combined qualitative research and quantitative research,aimed at enriching the theory of luxury brand extension,and provided guidance for luxury marketers to develop marketing strategy on Chinese consumer.