How the interaction of the big five personality traits and brand personality of luxury brands impacts customer purchase intentions

Abstract

This study examines the interaction between consumer personality traits and luxury brand personalities to understand their influence on purchase intentions. Utilizing Aaker's (1997) brand personality model and Goldberg's (1992) Big Five personality model, the research addresses gaps in knowledge about the psychological foundations of luxury brand loyalty and purchase behavior. The study surveyed 214 participants familiar with Hermès, Prada, and Balenciaga. Six hypotheses explored the relationships between consumer traits (openness, conscientiousness, extraversion, agreeableness, neuroticism) and brand personality perceptions (sincerity, excitement, competence, sophistication, ruggedness) on purchase intentions. Results indicate that most personality traits do not significantly influence purchase intentions, except for a partial positive relationship between neuroticism and purchase intentions for Prada. This emphasizes the importance of brand attractiveness and familiarity over personality congruence in luxury purchases. The study highlights the complexity of luxury consumer behavior, suggesting that luxury brand strategies should integrate broader cultural, social, and economic factors to effectively engage diverse consumer segments. Additionally, it underscores that while personality traits offer some predictive value, luxury branding strategies must consider the larger context in which consumers operate to maintain and grow market presence. These insights are crucial for developing effective brand strategies that resonate with consumers' evolving preferences and behaviors in the dynamic luxury market. Understanding these interactions can help luxury brands craft more effective and nuanced marketing strategies aligned with their target audiences' psychological traits and broader cultural contexts.

Date of Award	2 Jul 2024
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Peter V. Rajsingh (Supervisor)