A Study on Customer Equity of Luxury Brands

Understanding Luxury Disposition

“…The luxury market of South Korea has also become a pillar of the global luxury industry with estimated sales of 4.5 billion USD in 2010 (McKinsey & Company, ). The phenomenal growth observed in international luxury markets has led the marketing literature to place a great deal of attention on the study of luxury consumption behaviors, including the values of luxury customers (i.e., Baek, Kim, & Yu, ; Dubois & Laurent, ; Kapferer, ; Kim & Ko, ; Kim, Moon, Choo, & Yoon, ; Ko & Megehee, ; Ko & Oh, ; Lee & Chang, ; Liu, Li, Mizerski, & Soh, ; Park & Phan ; Smith & Colgate, ; Tynan, McKechnie, & Chhuon, ; Vigneron & Johnson, ; Wiedmann, Hennings, & Siebeles, ). Despite its extensiveness, most of the focus of the academic literature on luxury consumption is placed on purchasing behavior, and research that encompasses the purchase, usage, and disposition stages (e.g., Jacoby & Olson, ) of luxury consumer behavior still remains elusive.…”