Relevant or redundant: Elite consumers' perception of foreign-made products in an emerging market

The determinants of foreign product preference amongst elite consumers in an emerging market

“…Prior research suggests that imported products are preferred by consumers in emerging countries due to symbolic meanings associated with COO (Ger and Belk, 1996;Khan et al, 2012;Kinra, 2006), economic factors (Saffu and Walker, 2006), cultural aspects (Guo, 2013) and history (Agbonifoh and Elimimian, 1999;Üstüner and Holt, 2010). Of these, symbolic meanings play a vital role in explaining consumer preference for foreign products in the context of emerging markets, as imported products are rarer and more expensive than local goods.…”

“…Prior research into self-image congruence indicates that consumers will have a positive attitude and purchase intentions towards products that are congruent with their own self-image (Aaker, 1999;Kastanakis and Balabanis, 2014). It has been found that elites consider that consumption of foreign products enhance their self-esteem and demonstrates their social status (Khan et al, 2012;Khan and Bamber, 2008). Hence, it is expected that there is a positive relationship between self-image congruence and overall attitude towards products made in foreign countries.…”

“…Aaker (1999) argues that consumers develop an internal imagery of brands based on internal and external product cues. Product COO is considered as one such important cue through which consumers develop such imagery of products (Ger and Belk, 1996, Khan et al, 2012, Kinra, 2006.…”

“…In the context of emerging markets, previous research on COO indicates that consumers from emerging nations prefer imports from developed foreign countries (Batra et al, 2000;Hamzaoui andMerunka, 2006, Khan et al, 2012;Kinra, 2006). It has been suggested that consumers in emerging markets tend to prefer foreign products due to their ability to enhance their self-esteem, social status and pride attached to the ownership of such products (Khan et al, 2012;Khan and Bamber, 2008;Kinra, 2006;Üstüner and Holt, 2010). However, research into how elite consumers perceive products made in foreign countries and the factors that influence their attitudes and purchase intentions is limited.…”

“…The elites consider COO as a symbol of status and esteem (Khan et al, 2012). Due to their purchasing power and ability to afford high priced foreign goods, these wealthy elites in emerging markets represent a lucrative niche market for existing and potential new entrants (Khan et al, 2012). These elites have the resources to purchase products made in foreign countries (Hassan and Katsanis, 1991).…”