Beyond Necessity: drivers of purchase for luxury cars

Written by Jae C. Henderson April 2019

Abstract

For as long as there have been documented cases of consumption, there have been observations made about the occasion and circumstances surrounding the decision to consume. Arguably, we are obsessively consumed by consumer behavior. Furthermore, while we do have a good understanding about our psychological need to consume in order to satisfy our Hierarchy of Needs, the true fascination in consumer behavior lies just beyond fulfilling the needs, and examines how we choose to fulfill those needs as individuals within society, and why we may choose to fulfill a need with one product versus another. The aim of this paper is to propose a working definition of luxury, examine the drivers behind a luxury car purchase, and highlight how brands capitalize on those drivers in order to differentiate themselves in such a crowded space.  

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