The increase in the market of luxury products in emerging and developing countries raises an interesting scenario for the exploration of purchasing decision processes and the motivations that consumers have to acquire these brands, this study aims to identify association between extrinsic and intrinsic motivations with purchase decision making in luxury products for clothing and accessories categories. A descriptive, non experimental, simple cross sectional design with an electronic questionnaire with Likert scale items was conducted for consumers of luxury products belonging to a high socioeconomic level in the city of Bogota, Colombia. 231 valid registers were obtained and analyzed on SPSS software. It was found that the main motivation associated with the purchase decision is given to the extrinsic hedonic experience of looking good and projecting an attractive image, while the expression through costumes and accessories of a certain level of economic success is less relevant, as well as being recognized socially from it. A significant relationship was also found between the intrinsic motivations and the purchase decision. In particular, self-esteem and the desire for quality. In general, it is concluded that the intrinsic motivations that are more related to very personal and emotional experiences seem to have a greater weight in the purchase decision than the extrinsic motivations, associated with the financial success, fame and social acceptance of the individual.
|Translated title of the contribution||Relationship between extrinsinc and intrinsinc motivations and purchase decision making for luxury products in Colombia|
|Number of pages||12|
|Journal||Revista de Ciencias Sociales|
|State||Published - 2018|
All Science Journal Classification (ASJC) codes
- Social Sciences(all)