With the growth of blockchain technology, the potential of NFTs is receiving significant attention across all industries. As NFTs emerge as a novel type of asset, they are drawing attention as a potentially important market, particularly for many luxury goods. This study aims to understand the concept of NFTs and their influence on e-WOM. This study develops a research model that facilitates an understanding of luxury brands’ NFT marketing activities and tests it with a consumer survey. Our analysis reveals important characteristics of perceived NFT marketing activities such as scarcity, resaleability, and authenticity. Furthermore, the impact of specific NFT marketing activities and their influence on e-WOM are discussed. This study contributes theoretical insights for researchers and has practical implications for practitioners who manage marketing activities for NFTs.

Social media influencers are becoming increasingly important to the advertising world. As individuals who use their extensive following to endorse products, create trends and ultimately drive purchase intentions, influencers are often seen as role models, especially as pertains to body image. As such, we conduct experimental research to examine how influencer size (0 vs. 14) affects attractiveness perceptions, perfectionist expectations, and purchase intentions. Drawing on self-determination theory we find that perfectionism toward others is the underlying mechanism for the effects of motivation and size. Societal and managerial implications are discussed.

In recent years, there has been increased attention on the portrayal of women in the media. Photoshopped images of unrealistic female forms have been perceived to have negative impacts on the self-esteem of those exposed (Groesz 2002). Based on the idea that seeing unrealistic body images can put undue pressure on women and impact their self-esteem, some governments have gone as far to propose and or pass legislation that ban or require disclosures on such images in advertising. For example, multiple attempts have been made to pass the Truth in Advertising Act in the U.S., which would severely restrict the ability to digitally alter ad (Navamanikkamm 2017). Meanwhile. France passed a law in 2017 mandating that if a model’s physical person has been digitally altered in an ad it must include a disclaimer indicating that the ad has been retouched (Lubitz 2015). Recently, Israel out of concern about eating disorders at a societal level, passed legislation requiring a disclaimer in any ad whether a model is photoshopped to look thinner. The Israeli law also mandates that a threshold body mass index be met for a model to be included in an ad. With the United Kingdom’s Advertising Standards Authority also banning some campaigns due to exaggerated retouching, it is clear that photoshopping of models in advertising is under scrutiny (Sweney 2017). Several companies have also taken a stand on photoshopping of ads. These include Aerie Lingerie, CVS Drugstores, Dove, and Britain’s ASOS, all of whom has committed to having realistic images in their ads and reducing or eliminating retouching (Horwath 2016; Zillman 2017; Bomey 2018). In spite of the increased attention being paid to photoshopping of ads by regulators, companies, and some in the public, research on the topic has been relatively sparse. This paper aims to summarize what is known about the societal and managerial implications of digital retouching and offers future research directions designed to make advances in these areas. To this end, this paper begins by reviewing work in three areas related to photoshopping of ads. The first topic addressed is whether edited images of unrealistic standards have a negative impact on the viewer. Secondly, we examine what is known about the implications of including disclosures and disclaimers on the consumers psyche, (i.e. do these warnings negate the implied negative consequence of the edited images). Finally, the impact such disclosure labels have on ad effectiveness and purchase intention is considered. To ensure the full scope of pertinent material was covered, articles were targeted via databases such as ABI/ Inform, Business Source Premier, EBSCO and Google Scholar. Because of the paucity of articles, no time limitations were placed on the search. A variety of combinations of relevant search terms were used (e.g., retouching, advertising, body image, women, photoshop etc.). As key articles were identified, the sources they cited were also reviewed in relation to the purpose stated above. Our review of the literature finds a virtually universal consensus finds that idealized imagery, often characterized by very thin or “ideal” models is directly correlated to an increased risk of body dissatisfaction (Groesz 2002). Several of these studies draw on social comparison theory (Gulas 2000; Myers 2009) is commonly used as a theoretical explanation underlying this effect, with experimental studies being used to provide empirical evidence. Prior studies have tested several types of disclaimers. These studies have generally found that disclaimer do not mitigate the negative impact that the exposure to idealized image has on the consumer (Cragg 2017) Based on this research, apparently, women feel social pressure to live up to idealized images even if a disclaimer is included in the ad. However, it should be noted that only a limited number of studies have tested this effect, and additional types of disclaimers from different sources need to be tested before drawing firm conclusions. As for advertisement effectiveness, specifically product attitude and purchases intent, studies have found that advertisements using “normally attractive models” in comparison to “highly attractive models” tend to produce better results (Tsai and Chang 2007). Notably, the presence of a disclaimer does not appear to either increase or decrease the effectiveness of ad based on the extant research (Semaan, Gould and Kocher 2012; Schirmer et al., 2018). The literature does raise some questions about the needed prominence of a disclaimer to have an impact, suggesting that often times “fine print messages” are largely unnoticed in relation to a more prominent alternative (Black & Watson 2013). Notably, there is some evidence that including a “retouch-free” versus a “retouched” disclaimer does increase attitudes toward the brand and purchase intention (Cornelis and Peter 2017). The literature reviewed has limitations such as uncorroborated studies, limited sample sizes, and narrowly focused demographics in some studies. While it has generally been established that highly attractive model usage and idealized retouched imagery has a negative effect on consumer body image, there is insufficient research on the implications of disclaimers and disclosers. It is suggested that additional research is needed on the effects of various disclaimer types directly related to various levels of image re-touching (as opposed to product warnings) on consumer buying behavior and ad effectiveness (see Schirmer et al., 2018). There is some evidence that consumers are accepting of minor photoshopping of ads, such as changing the background or “fixing” a blemish, but that more major retouching such as making a model appear to have different facial features, thinner legs, or larger breasts is viewed as problematic. As such, future experimental research should focus on different levels of retouching. There is also a clear need to test different wording of disclaimers as well as disclaimers from different sources (e.g. government vs. non-profit, vs. company itself). Future research should focus on a wide cross-section of women. It should also test multiple product categories, including those beauty related vs. not beauty related.

In terms of sustainability alone, consumers are faced with a staggering assortment of 463 different labels across 25 industry sectors, a number that is only expected to grow over time (Ecolabel Index 2016). Amid growing environmental concerns, research suggests that many consumers are unlikely to consider the consequences of their choices at the point of purchase, or if they attempt to do so, they generally do not have the information necessary to make more sustainable choices. Given the rise of ineffective green communication protocols and consumers’ concerns with environmental impacts associated with their purchases, this paper attempts to understand how the provision of sustainability labeling can influence comprehension and consumer decision-making. Utilizing the ambiguity theoretical framework (Einhorn and Hogarth 1985), we suggest that perceptions of sustainability will be influenced using an anchor comprising a plausible range based on consumers’ existing beliefs and internal points of reference (Broniarczyk and Alba 1994). That is, consumers revert to a pre-existing reference point, and the new information does not allow for much movement in perceptions. In an ambiguous situation in which consumers have limited knowledge of product sustainability, the perceived brand-based sustainability level is expected to allow consumers to establish an initial value of sustainability (Hogarth and Kunreuther 1992). Our findings suggest that providing environmental information can be a useful tool in assisting consumers in making sustainable decisions. Providing quantitative aggregated environmental impact information of products influences consumers’ perceived ambiguity, leading to evaluation of the brand. The perceived ambiguity derived from sustainability level provides an underlying mechanism in information processing. Given rising concerns about consumers ability to process sustainability information in an efficient manner, our findings suggest that one way to encourage consumers to better process the sustainability information is to mitigate perceived ambiguity. Enforcing disclosure initiatives that assess the environmental impact of products can provide benefit to firms—especially for product categories in which limited loyalty or differentiation exists. Sustainability disclosures appear to offer a mechanism that can help consumers make informed decisions. Furthermore, extrapolating the influence of disclosures on consumer evaluation and choice across the variety of product categories for which consumers routinely make purchases suggests the potential for dramatic increases in global sustainability.

This study examines how advertising can be used by premium private labels to develop perceived luxuriousness and, in turn, purchase intention. The findings suggest perceived image and quality relative to regular private labels and a leading national brand as well as store-brand image congruity as key factors and support the store-type effect. Introduction Private labels (PLs) are receiving increased attention in line with their significant growth (Schnittka, 2015). Braak, Geyskens, and Dekimpe (2014) pointed out the evolving trend of more PLs offering high quality at a high price in comparison to their low-quality, low-price heritage. Among multiple tiers of PLs, PPLs exclusively aim at a premium tier of the market and try to offer the value comparable to that of top-tier NBs (Jost 2014). Acknowledging differentiated natures of PPLs, this paper analyzes what advertising strategies make consumers perceive a PPL to be luxurious and in turn, increase purchase intention. Cue utilization theory and categorization theory are used as a basis for hypotheses. Our research is an effort to shed light on adequate design of the advertising message for the successful introduction of a PPL. Theoretical Background Premium Private Label and Perceived Luxuriousness For a PPL, being able to offer outstanding value as compared to top-tier NBs is a critical issue (Geyskens, Gielens & Gijsbrechts 2010). To investigate whether a PPL is successfully positioned, we suggest the construct of perceived luxuriousness as a key variable. We define a brand's luxuriousness as its ability to satisfy multifaceted needs of consumers with its products which is not limited to functional needs (Lee, Ko, Kee & Kim, 2015), through five value dimensions (Vigneron & Johnson, 2004). Consequently, we employ the brand luxury index (BLI) to measure perceived luxuriousness (Vigneron & Johnson, 2004). Cue Utilization Theory According to cue utilization theory, when making purchases, consumers use diverse extrinsic and intrinsic cues, and make the assumption that such cues will help them make the most reasonable purchase decision (Richardson, Dick & Jain, 1994). Referring to cues, consumers decide to buy the product only if it is perceived as a better choice than the alternatives in terms of overall value that it conveys. These cues are often displayed and reinforced via advertising (Yi, 1993). Categorization Theory According to categorization theory, when exposed to advertising messages for a new brand, consumers are expected to call up information available in memory that is classified into categories (Carrillat, Harris, & Lafferty, 2010). Punj & Moon (2002) demonstrated that a successful strategy for new brands is to associate itself with a successful existing brand to be included in the consideration set while differentiating itself from other brands. Hypotheses Development Image Similarity Perceived similarity between brands and products has been discussed at various levels and scopes. It has been illustrated that shared physical attributes (Aaker & Keller, 1990) and shared abstract image (Park, Milberg & Lawson, 1991) between product lines moderate the probability of being perceived as similar by consumers. Considering the disparate positions between PPLs and RPLs, we suggested that RPLs are useful as a disparate option that may in turn emphasize the premium position of a PPL (Palmeira & Thomas, 2011). H1a. Image similarity between a PPL and a RPL, as reinforced by advertising, will have a negative effect on the perceived luxuriousness of the PPL. If a PPL can associate itself with the experiential value of a high-positioned NB, it is more likely that the PPL will be perceived as luxurious by signaling comparability (Sayman et al., 2002). H1b. Image similarity between a PPL and a NB, as reinforced by advertising, will have a positive effect on the perceived luxuriousness of the PPL. If the different positions of a RPL and a PPL are not perceived by consumers, consumers might judge the PPL as simply a similar but expensive option and would not be willing to purchase it (Huang & Huddleston, 2009). H2a. Image similarity between a PPL and a RPL, as reinforced by advertising, will have a negative effect on the purchase intention for the PPL. Closer associations between a PPL and a top-tier NB built through advertising lead to enhanced familiarity with the PPL and perceptions of reduced risks (Erdem, Zhao & Valenzuela, 2004). H2b. Image similarity between a PPL and a NB, as reinforced by advertising, will have a positive effect on the purchase intention for the PPL. Quality Superiority Perceived quality is defined by Aaker (1991) as: “the customer’s perception of the overall quality or superiority of a product or service with respect to its intended purpose, relative to alternatives”. Consumers’ abstract beliefs regarding the product’s quality can be deduced from “credence quality attributes” (Ophuis & Trijp, 1995). The quality of products is evaluated relatively, compared with alternatives. Nueno and Quelch, (1998) pointed out that there are a few characteristics shared by premium brands, and excellent quality is one of them. H3a. Quality superiority of a PPL compared to RPL, as reinforced by advertising, will have a positive effect on the perceived luxuriousness of PPL. H3b. Quality superiority of a PPL compared to NB, as reinforced by advertising, will have a positive effect on the perceived luxuriousness of PPL. According to Sethuraman, Tellis, and Briesch (2011), consumer perceptions of quality of a PL are evaluated based on quality differentials and play a dominant role when consumers make purchase decisions. Indeed, the perceived quality differential between a PL and a NB has been found to influence the share of the PL (Erdem et al., 2004). H4a. Quality superiority of a PPL compared to a RPL, as reinforced by advertising, will have a positive effect on the purchase intention of the PPL. H4b. Quality superiority of a PPL compared to a NB, as reinforced by advertising, will have a positive effect on the purchase intention of the PPL. Image Congruity between a Store and a PPL At the individual level, a generalized store image is determined by each consumer’s beliefs about retailer-specific attributes (Lee & Hyman, 2008). If the positive store image can be transferred through a number of positive associations between the store image and a PL, it will help consumers evaluate a newly encountered PL more favorably (Collins-Dodd & Lindley, 2003). As Dubois, Laurent, and Czellar (2001) demonstrated, consistent value shared between a parent brand and an extension will further strengthen the luxurious position. H5a. Image congruity between a store and a PPL will have a positive effect on the perceived luxuriousness of the PPL. Furthermore, with congruity consumers will see a brand which maintains the standards and preserve its essence as authentic and are likely to form positive responses toward a brand (Choi, Ko, Kim & Mattila, 2015). Lee and Hyman (2008) illustrated that the congruity between beliefs about a store and a PL would lead to a relatively favorable attitude toward a PL product. H5b. Image congruity between a store and a PPL will have a positive effect on the purchase intention of the PPL. Perceived Luxuriousness and Purchase Intention Sethuraman et al. (2011) illustrated that both quality and non-quality values matter in purchase decisions of a PL. For a PPL aiming at signaling an outstanding position, representations of added value are critical to form purchase intentions (Fionda & Moore, 2008). Thus: H6. Perceived luxuriousness of a PPL will have a positive effect on the purchase intention of the PPL. Store type Effect Consumers evaluate retailers differently and their subjective evaluation of the retailer is also expected to affect evaluations of products sold in the retailer (Grace and O’cass, 2005; Pappu and Quester 2008). The more upscale image and positioning of department stores are regarded to allow products they sell to be perceived as luxurious through more diverse appeals. In turn, purchase intentions are to be facilitated with ease, relatively. Proposition 1: According to store type, relative perception of luxuriousness of a PPL will be different. Proposition 2: According to store type, relative purchase intention of a PPL will be different. Methods Experiments were conducted among undergraduate-level students (aged 20-29) at a large Korean university, as they have relatively common traits and increasing experience with private labels (Trendmonitor, 2015). A total of 339 self-administered questionnaires were distributed, out of which 324 were used for analysis: 166 for department stores, 158 for hypermarkets. A purchase scenario of a cashmere sweater as well as an advertisement of the PPL sweater with information about each brand’s product (i.e. the material, the manufacturer, the distributor, and the advertisement) was given. For robust results, the experiment was conducted via two media types, online and paper. Analysis and Results Structural Model Testing We used structural equation modeling (AMOS 21) to test the proposed theoretical framework and propositions (see Figure 1). All estimates indicate an acceptable fit. Individual Hypothesis Testing The results indicate that image similarity between a PPL and a RPL negatively influences the perceived luxuriousness of the PPL (supporting H1a), but image similarity between the PPL and a NB positively influences the perceived luxuriousness of the PPL (supporting H1b). Although image similarity between a PPL and a RPL has no direct influence on the purchase intention of the PPL (H2a is rejected), image similarity between the PPL and a NB positively influences the perceived luxuriousness of the PPL (supporting H2b). Quality superiority of the PPL compared to the RPL positively influences both the perceived luxuriousness and purchase intention of the PPL (supporting both H3a and H4a), but quality superiority of the PPL compared to the NB does not have a significant effect (H3b and H4b are rejected). Congruity between the PPL and store is found to influence the perceived luxuriousness of the PPL (supporting H5a) but has no direct influence on the purchase intention (H5b is rejected). Meanwhile, the hypothesized effect of the perceived luxuriousness of PPL on purchase intention is supported (H6). Proposition Testing The data for each store type, department store (n =166) and hypermarket (n=158), was analyzed separately via multi-group analysis to assess store type effects on the modeled relationships. The findings for department stores indicate that the effects of image similarity between a PPL and a RPL on perceived luxuriousness, image similarity between the PPL and a NB on the purchase intention, quality superiority of the PPL compared to the RPL on the perceived luxuriousness as well as the purchase intention, and image congruity between the PPL and the store on the perceived luxuriousness are significant. Meanwhile, the findings for hypermarkets represent that the effects of image similarity between the PPL and NB on perceived luxuriousness and quality superiority of the PPL compared to the RPL on the perceived luxuriousness of the PPL are significant. For both store types, overall perceived luxuriousness turned out to be positively related to purchase intention. Conclusion The findings of this study have implications for a PPL aiming at positioning itself in consumers’ minds as luxurious, vis-à-vis a RPL and a NB. In regard to the perceived brand images, using advertising, efforts to differentiate a PPL from a RPL and to equate a PPL with the top-tier NB appears to be a reasonable strategy. Moreover, using advertising to emphasize superior quality compared to the RPL is likely to be effective whereas to compare it to a NB will not. Also, image congruity between a store and a PPL would allow the PPL to be perceived as luxurious as it aims to be. Furthermore, the results lead to a rationale for disparate strategies between two store types. As a follow-up study, we are planning to examine how direct manipulation of the comparative advertising messages influences consumers’ perceived luxuriousness and purchase intentions of a PPL.

Premium private label brands (PPLBs) are receiving increased attention in line with their significant growth. Private label brands (PLBs) have been evolving from offering low quality at a low price to high quality at a higher price. Among multiple tiers of PLB, PPLBs are assumed to be in an exclusive tier and compete with top-tier national brands. In consumers’ minds, PPLBs are perceived and evaluated in reference to alternatives represented by regular private label brands (RPLBs) and top-tier national brands (NBs). Thus, for PPLBs, being able to provide outstanding value that is perceived in relation with competitive alternatives is a critical issue. In addition, related marketing entities such as a store type are assumed to affect consumers’ perceptions and evaluations. Based on cue utilization theory and categorization theory, this research aims to identify key relationships influencing the perceived luxuriousness and eventual purchase intention of PPLB products. This research analyzes what strategies make consumers perceive a PPLB to be luxurious and in turn, increase purchase intention. The empirical study consists of a survey conducted among college students in their 20s in Korea. The data were analyzed to test the theoretical framework using a confirmatory factor analysis and structural equations.

Introduction The growth of the luxury goods market has seen an increased level of interest in the topic from both practitioners and academic researchers. The luxury market consists of a number of diverse categories (e.g., luxury clothing, cars, wines, jewelry, vacations) and is considerable in size, reaching €865 billion (over 1 trillion U.S. dollars) in 2014 (D’Arpizio 2014). While the topic of luxury brand marketing historically received only limited attention in the academic literature (Berthon, et al., 2009; Miller and Mills, 2012a) recent years have seen a growth of studies on the marketing of luxury products, including both goods and services). As the last half-decade has seen especially accelerated attention given to the topic, the time is right to examine the body of the overall literature on luxury brand. With the need for consolidation of findings in mind, this paper conducts a literature review of studies of luxury branding that is designed to contribute to the literature on luxury branding in multiple ways. First, the study is designed to provide guidance for researchers on luxury brands as to the definition and measurement of a “luxury brand.” While a number of studies have attempted to define the term, no single widely accepted definition of luxury brand exists and multiple measurement schemes have been put forward. This paper will review key definitions and measurement scales in an effort to help guide future researchers. A second intended contribution is to identify the most influential theories that have been used to help understand whether/why consumer behavior towards luxury brands differs from that towards other brands. A third intended contribution is to outline major sub-areas of research on luxury brands and identify key themes in the findings within these areas in order to summarize the state of knowledge of luxury brand marketing. These areas are: 1) consumer motivation for consuming luxury brands; 2) segmentation strategies for luxury brands; 3) international considerations; and 4) the role of social media in the marketing luxury brands. In conjunction with this goal we summarize how luxury brand marketing has been found to differ from the marketing of other types of brands. In other words, we identify what principles appear to be unique to luxury brand marketing. Finally, the study is designed to contribute to the literature by identifying areas especially in need of additional research in order to move this body of literature forward. Defining “Luxury Brand” Unfortunately for researchers, there is not a widely accepted definition of luxury brand. For example, the American Marketing Association’s dictionary of terms does not contain a definition of “luxury,” “luxury brand,” or “luxury marketing.” Yet, several scholars have attempted to define what constitutes a luxury brand. Prior research is characterized by, “…a lack of clarity regarding a definition, operationalization, and measurement of brand luxury” (Miller and Mills 2010, p.1471). This observation is consistent with previous calls by researchers for a more precise definition of luxury goods marketing (e.g., Berthon, et al., 2009). It has further claimed that the definition and measurement of luxury has been highly subjective (Godey et al., 2009). To the extent that it is true that definitions of luxury have been subjective, this is based on what individual researchers have put forward, as opposed to luxury being an inherently subjective construct. Thus, it is possible and desirable to define what a luxury brand is and measure the degree to which a given brand is a luxury brand. Fortunately, some researchers have made attempts to define luxury. The Miller and Mills (2012a) paper focused on fashion brands and also intentionally included several characterizations of luxury that were not designed to be formal definitions. Thus, it is not directly applicable to our purpose here, which is to identify key usable definitions of luxury brand that are generally applicable. For our purposes, a definition of a luxury brand should meet three key criteria in order to be considered viable definition. First, it should be based on a sound conceptual foundation, as is characteristic of academic definitions in general. Thus, we list here only those definitions that are logically derived from previously articulated and supported concepts. Second, the definition must be broadly applicable to luxury brands in general, and not just a subset such as only products or services, or one type of product category (e.g., fashion goods or automobiles). Finally, the theoretical definition should be capable of being operationalized in a way that allows the construct to be measured. Further, if the definition is multidimensional, it must be possible to measure all of the dimensions. We assembled a collection of definitions that meet these criteria that is displayed in table form. The literature largely defines luxury brands based on consumer perceptions (Heine 2012, Hagtvedt and Patrick 2009), managerially determined dimensions such as marketing activities and product attributes (Keller 2009, Nueno and Quelch 1998), or a combination of both (Vigneron and Johnson 2004, Berthon et al. 2009, Tynan et. al 2010, Vickers and Renand 2003). Some dimensions are present in multiple definitions such high quality (Keller 2009, Heine 2012, Dubois et al. 2001, Tynan et. al 2001, Vigneron and Johnson 2004, Nueno and Quelch 1998) rarity (Tynan et al. 2001, Heine 2012,Vigneron and Johnson 2004, Nueno and Quelch 1998), premium pricing (Keller 2009, Tynan 2010, Heine 2012, Nueno and Quelch 1998), and a high level of aesthetics (Keller 2009, Dubois et al. 2001, Heine 2012). Though the authors of many of these definitions present some explanation of the dimensions underlying the brand luxury definition, further clarification on how these dimensions should best be measured would make any definition of brand luxury more useful. Without methods to clearly measure brand luxury there exists a cacophony of definitions, all with their own grouping of necessary dimensions that lack true clarity or empirical backing. Measurement Scales for Brand Luxury Essential to a better understanding of luxury brands is availability of reliable and valid scales to measure the level of luxury a brand possesses and consumer perceptions of luxury value. There are a variety of reasons why widely accepted scale(s) for measuring luxury are necessary. First, as is evident from the numerous definitions of brand luxury, there exists considerable disagreement on what makes a luxury brand; making objective measurement necessary to clarify potential inconsistencies. Another important consideration in developing scales to measure luxury stems from the reality that amongst consumers and researchers it is acknowledged that not all luxury brands are equally luxurious (Vigneron and Johnson 2004). This suggests that it may be useful to view a brand’s relative luxury as existing on a continuum opposite another construct rather than as an absolute demarcation. The schemes developed thus far are presented with particular focus on those, which are most promising. While there is no generally accepted scale for measuring luxury, the scales that have drawn the most interest for measuring brand luxury appear to be Vigneron and Johnson’s (2004) BLI, and Dubois’ (2001) 33 item scale. Weidemann et al.’s (2009) scale also appears to warrant additional attention, while Miller and Miller and Mills’ (2012) scale appears to be promising but was designed for fashion brands only. Shukla and Purani’s(2012) effort is notable, but the real focus in on consumer motivation and not luxury. Key Theories Though a variety of theories are employed in the luxury marketing literature to explain the motivation for luxury consumption, a number of prominently used theories are summarized in Table 3. Though these various theories all add something slightly different to the understanding of what motivates luxury consumption, they all are largely social in nature. The oldest and perhaps most popular of these theories is conspicuous consumption which originates from Thorstein Veblen’s The Theory of the Leisure Class (1899). Veblen posits that individuals consume in a highly visible manner to signal wealth to others which infers status and power (Veblen 1899). More recently, Bearden and Eztel (1982) found that luxury goods consumed in public were more likely to be conspicuous in nature. Numerous measurement schemes have included conspicuousness as a key dimension of and motivation for consumption of luxury brands (e.g. Wiedmann 2009, Vigneron and Johnson 2004, Dubois et. al 2001). Social comparison theory has been used in a variety of ways to explain different types of luxury consumption motivation. For example, Wiedmann et al. (2009) proposes that since social comparison theory predicts that people tend to conform to majority opinion of their membership groups, that consumers may likely use a luxury brand to conform to social standards. Mandel and Cialindi(2006) find that social comparisons impact not only one’s feelings of self-satisfaction, but also preference for luxury brands. Researchers have also used social comparison theory as a way to understand how consumers engage in comparison between themselves and mass media outlets, Kamal et al. (2013) use this theory in the context of social media marketing and luxury goods. Self-concept theory is another lens scholars have used to examine luxury consumption. Self-concept comprises of how a person feels about his or herself (Gil et al. 2012) making one’s self-concept a potential motivator for luxury consumption. Luxury brands can appeal to self-concept by making consumers feel good about themselves through possession or gift giving (Shukla and Purani 2010). Recent findings have also suggested that one’s self-concept orientation can have an effect on preference for certain types luxury consumption. Kastakankis and Balabanis (2012) find that consumers with an interdependent self-concept are associated with bandwagon luxury consumption while an independent self-concept discourages this type of behavior. Consumer culture theory in general (see Arnould and Thompson 2005) and Belk’s (1988) concept of the extended-self in particular, have informed how many researchers understand luxury consumption motivation. The extended-self helps to explain the symbolic role luxury possessions have in the consumers’ lives (Han, Nunes, and Dreze 2010). Consumers use possessions to form and alter their identities in order to fit their projections of who they are and hope to be (Belk 1988). Value in the possession and consumption of luxury brands is held in the ability to extend one’s self (Hung et al. 2011). Extended-self also serves as one of the five factors in Vigneron and Johnson’s (2004) BLI scale and includes the items of leading, very powerful, rewarding, and successful to measure this factor. While some have argued that a characteristic of luxury brands is their uniqueness (e.g. Dubois et al. 2001), others have also suggested that an individual’s desire to be seen as unique is another important motivation for luxury consumption. Underlying this assertion is Snyder and Fromkin’s (1977) theory of uniqueness, which proposes that individuals develop the need to differentiate themselves from others when there is too much similarity in their social environment. Tian, Bearden, and Hunter’s (2001) concept of consumer’s need for uniqueness is derived from the theory of uniqueness. Consumer’s need for uniqueness suggests that consumers pursue differentness relative to others through the consumption of goods with the intention of developing and enhancing one’s self and social image (Tian et al. 2001). Luxury goods inherent scarcity due to high price and restricted distribution makes it an especially strong category for those attempting to display uniqueness to others (Bian and Forsythe 2012) Motivations and Reasons for Consuming Luxury Goods A consistent theme in the luxury goods marketing literature is that the motives for buying luxury brands differ from those of other types of brands. Numerous studies have explored a variety of potential motives for luxury brand consumption and findings consistently confirm that unique factors contribute to the consumption of luxury brands. At the broadest level, it has been found that luxury brands are attractive to consumers for multiple reasons. Central to the appeal of luxury brands are symbolic meanings consumers attach to them as opposed to specific product features (Han et al., 2010; Kastakanis and Balabanis 2012). More so than standard brands, luxury brands attempt to leverage the meanings consumers attach to them in order to increase sales. The motives underlying the attachment of meanings to luxury brands are a key to understanding why consumers purchase luxury brands. A summary of key articles aimed at exploring motivations for luxury consumption is provided in this section. Clearly, motives for purchasing luxury brands is drawing research interest and is in need of additional research. One longstanding factor that consistently comes up is the importance of social influence and comparisons to others as well as a desire to project a certain image to others due to status consciousness. The role of hedonic pleasure through the consumption of luxury goods has also been a point of emphasis in several studies. More recently, some studies focusing on promising additional factors, including luxury brand consumption as an expression of personal values and as a result of pride, or expressing self-confidence have produced key findings. It is also clear that some variation in motives for purchasing luxury brands has been found, such as differences between product categories, by gender, and culture, and that need more research in these areas. International/ Cross-Cultural Considerations A sub-topic that has been investigated by several researchers is whether international and cross-cultural factors have an impact on luxury brand marketers. It has been well documented that many luxury goods marketers have been successful in selling their products to high income/ high-status consumers around the world. As the market for luxury goods continues to grow consumer demand in Western developed markets have stalled in the face of recessionary trends while the appetite for luxury goods has grown in emerging economies such as China, India, Brazil, and Russia (Shukla and Purani 2012). After reviewing the literature in this area it seems that to date, the studies done on cross-cultural issues in luxury brand marketing appear to raise more questions than they solve. On one hand, it is clear that luxury brands have grown in many parts of the world, resulting in interest in whether there are significant cultural factors independent of income that drive to own luxury goods. On the other, some studies appear to show individualism vs. collectivism matters to consumers while others are suggestive of similar motives across countries. As a result, it is very much worthwhile for more studies attempting to uncover nuances as to the circumstances under which collectivism makes a difference. Moreover, additional study of factors that may vary across culture, such as the influence of country of origin, value consciousness and susceptibility to interpersonal influence as well as other cultural factors should be considered going forward. Market Segmentation for Luxury Brands The extant research on segmentation in luxury brand markets suggests that there are strong possibilities for cross-market segmentation. The findings of Ko et al. (2007,2012) and Wiedmann et al. (2009) are notable examples of such possibilities. However, it must be noted that the research conducted to data primarily focused on markets at high levels of economic development, so further research on the circumstances under which markets can be segmented cross-nationally. It is also notable that much of the research on this issue has been conducted on female subjects, and in light of the Stokberger-Sauer and Teichman (2013) findings of gender differences in Germany, more research is needed on this topic. Effective Use of Social Media for Luxury Brands Research related to social media marketing and luxury brands is reviewed and underlying themes are presented. Because of the evolving nature of social media promotion and the limited number of studies, it is difficult to draw sweeping conclusions from the literature. However, it is clear that social media can be used to build brand image and enhance purchase intention if done properly. Moreover, Kim and Ko’s (2010 and 2012) study provides a promising framework for better understanding the impact of social media programs on various outcome measures. Conclusion and Suggestions for Future Research Recent growth in the study of the luxury market has produced a body of literature that has addressed a number of important issues related to the subject. This literature highlights how the marketing of luxury brands is different than other products while raising even more questions. Future research suggestions on all the topics included are presented based on the findings and themes in the literature review.

In the U.S., the Super Bowl attracts more viewers and media attention for its advertising than any other single event for the year (Tomkovick et al., 2011). Previous research focuses on factors of the effectiveness of Super Bowl ads. A majority of these studies explores their impact on short-term effectiveness measures such as recall, buzz, or, most commonly, ad likeability (e.g., Cheong and Kim, 2012; Li, 2010; Nail, 2007; Newell et al., 2001; Tomkovick et al., 2001). However, prior research on whether Super Bowl ads have a positive impact on stock prices has not provided consistent results. Thus, more attention should be paid to the marketing productivity and measures of return, including customer equity (e.g., Rust et al., 2004). Drawing on the brand value chain (Keller and Lehmann, 2003), we hypothesize that customer equity mediates the relationship between Super Bowl ads and firm value. Using event study methodology, we analyze a sample of 62 ads for which data is available on both measures that represent customer equity and stock price from the Super Bowls from 2008 to 2012. We find that Super Bowl ads can be worth the large investment, but only if they enhance consumers' brand favorability ratings. The reverse also holds in that a negative impact on stock return is expected when a Super Bowl ad reduces brand favorability.

Sustainable marketing, as recently noticed by academics and practitioners, refers to a form of marketing that makes a net positive contribution to society in terms of environmental, social, and economic developments. Firms’ interest in sustainability as part of business performance beyond mere financial goals has been increased. Various sources, including societal mandates incorporated into regulations, concern about loss of sales, and a potential decline in corporate reputation pressures companies into implementing proper sustainability management. The purpose of this study is to clarify measures of perceived sustainability from the marketing perspective, analyze the effects of perceived sustainability on customer equity, and develop the recent theoretical frameworks and implications that will enable sustainable marketing concepts to be globally competitive. The measures of perceived sustainability items enable researchers to examine relationships among perceptions of sustainability and other key customer equity variables, such as value equity, brand equity, and relationship equity. For this and other reasons, the MPS may have value to practitioners. By understanding perceived sustainability, they can develop economic, social, environmental and communication performances that effectively utilize sustainability. The measures of perceived sustainability offers researchers a tool for measuring perceived sustainability that is consistent with the literature on sustainability, while recognizing the reality that sustainability is a multidimensional construct. The rigor reflected in the multiple methods for generating scale items and the multiple stages in the scale development process results in a scale that should be useful to both researchers and practitioners.