Luxury Consumption: Staging Experiences & Creating Value for Millennials using a Customer-Dominant Logic.

Rodriguez Valdez, Adriana (2015) Luxury Consumption: Staging Experiences & Creating Value for Millennials using a Customer-Dominant Logic. [Dissertation (University of Nottingham only)]

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The purpose of this study is to examine the role of luxury brands in the Millennial luxury consumers’ lifeworld and to understand the importance of the customer experience for the Millennial luxury consumers within the value creation process. Moreover, this research aims to fill the gap in the present literature between the existing luxury brand management and value creation process literature incorporating the Millennial consumers lifeworld.

While the existing literature about luxury brands generally discusses its management and insights about the industry, the literature about the value creation process it is mainly about the different approaches to create value. Although some attention has been paid to value creation for luxury brands, little is known about how this take place within the Millennial generation and their lifeworld.

This study adopts a Customer-Dominant Logic perspective to understand how luxury brands should create value for Millennials through value in the experience within their lifeworld. Thus, this research aims to contribute to the literature by generating insights and new knowledge that can help brands to perform better when approach this particular age cohort.

In order to find out these insights, ten Millennials, aged between 20-25 years, who have purchased luxury brands or are likely to engage in future luxury consumption were interviewed using face to face semi-structured interviews by asking them about luxury. Moreover, the findings of the research were interpreted through the hermeneutic spiral of individual and collective sense making of value in the experience to understand how Millennials iteratively seek to make sense of value in the experience in a luxury context. Finally, the key findings and implications of the research suggest that Millennials find value in luxury brands that fit into their lifestyles and that provide them with valuable experiences.

Item Type: Dissertation (University of Nottingham only)
Depositing User: Rodríguez Valdez, Adriana
Date Deposited: 24 Mar 2016 09:47
Last Modified: 14 Sep 2016 23:56

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