Skip to main content
SpringerLink
Log in
Book cover

Identitätsbasierte Luxusmarkenführung pp 121–137Cite as

Do Luxury Pricing Decisions Create Price Continuity?

  • Chapter
  • First Online:

Abstract

Previous research on luxury has been mainly directed towards understanding the nature of luxury, the luxury consumer behavior, and branding luxury goods. While a high price is commonly referred to as one defining characteristic of a luxury brand, little research may be found in the field of pricing luxury brands. Even less research on luxury pricing is based on empirical evidence. In this article the authors present findings on luxury pricing decisions from a large-scale survey of managers of 114 luxury brands. They introduce luxury-specific pricing decisions including long-term vision of price, rigid price discrimination policy, price-volume stability, and rigid price promotion policy. The positive effect of these components on luxury price continuity is hypothesized and empirically tested. Results indicate that luxury pricing decisions impact luxury price continuity while not yet being applied by a considerable number of luxury brands examined.

Zusammenfassung

Bestehende Forschungsbeiträge zum Luxusgütermarketing konzentrieren sich überwiegend auf die Definition von Luxus, das Konsumverhalten von Luxusgütern und die Markenführung von Luxusmarken. Während ein hoher Preis im Allgemeinen als eines der definierenden Merkmale von Luxusmarken verstanden wird, lassen sich wenige Beiträge finden, die das Preismanagement von Luxusmarken näher untersuchen. Noch seltener handelt es sich dabei um Erkenntnisse aus empirischen Erhebungen. In dem vorliegenden Artikel stellen die Autoren Ergebnisse aus einer umfangreichen Studie unter Managern von 114 Luxusmarken zum Thema Preismanagement vor. Dabei gehen die Autoren zunächst auf die spezifischen Vorgaben zur Preisentscheidung für Luxusmarken ein. Diese beinhalten die langfristige Ausrichtung des Preises, strenge Vorgaben zur Preisdifferenzierung, eine stabile Kombination aus Preis und Absatzmenge, sowie strenge Vorgaben zu Preisnachlässen. Ein positiver Effekt dieser vier Komponenten auf die Stabilität des Luxuspreisbildes wird abgeleitet und empirisch überprüft. Die Ergebnisse zeigen, dass spezifische Vorgaben zur Preisentscheidung von Luxusmarken eine hohe Preisstabilität schaffen, zugleich aber in vielen Luxushäusern noch nicht konsequent umgesetzt werden.

This is a preview of subscription content, log in via an institution.

Chapter
USD   29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD   59.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Hardcover Book
USD   74.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Learn about institutional subscriptions

References

  1. Adams, A. (2009). Rolex Buys Rolex Watches To Prevent Price Drops. Luxist.com: http://www.luxist.com/2009/06/16/rolex-buys-rolex-watches-to-prevent-price-drops/. Access: January 31, 2012.

  2. Alexander, E. (2010). Damage Limitation. Vogue: http://www.vogue.co.uk/news/2010/10/04/louis-vuitton-close-stores-early. Access: January 31, 2012.

  3. Anderson, J. C. & Gerbing, D. W. (1991). Predicting the Performance of Measures in a Confirmatory Factor Analysis With a Pretest Assessment of Their Substantive Validities. Journal of Applied Psychology 76(5), pp. 732–740.

    Article  Google Scholar 

  4. Berthon, P., Pitt, L., Parent, M. & Berthon, J.-P. (2009). Aesthetics and Ephemerality: Observing and Preserving the Luxury Brand. California Management Review 54(1), pp. 45–66.

    Article  Google Scholar 

  5. Catry, B. (2003). The Great Pretenders: The Magic of Luxury Goods. Business Strategy Review 14(3), pp. 10–17.

    Article  Google Scholar 

  6. Chin, W.W. (1998). The Partial Least Squares Approach to Structural Equation Modeling. In Marcoulides, G. A. (ed.), Modern Methods for Business Research (pp. 295–336), Mahwah/London: Lawrence Erlbaum Association.

    Google Scholar 

  7. Cho, Y.-S. (2012). Rolls-Royce Sells Out Dragon Phantom in China. Bloomberg: http://www.bloomberg.com/news/2012-01-11/rolls-royce-sells-out-dragon-phantom-in-china.html. Access: January 31, 2012.

  8. Diamantopoulos, A. & Winklhofer, H. (2001). Index Construction with Formative Indicators: An Alternative to Scale Development. Journal of Marketing Research 38(2), pp. 269–277.

    Article  Google Scholar 

  9. Fassnacht, M. (1996). Preisdifferenzierung bei Dienstleistungen: Implementationsformen und Determinanten. Wiesbaden: Gabler.

    Google Scholar 

  10. Fassnacht, M., Mohr, H. & Kluge, P.N. (2011). Keine Kompromisse beim Preis. Absatzwirtschaft Sonderheft 2011, pp. 48–51.

    Google Scholar 

  11. Fassott, G. & Eggert, A. (2005). Zur Verwendung formativer und reflektiver Indikatoren in Strukturgleichungsmodellen: Bestandsaufnahme und Anwendungsempfehlungen. In Bliemel, F., Eggert, A., Fassott, G. & Henseler, J. (eds.), Handbuch PLS-Pfadmodellierung (pp. 31–47). Stuttgart: Schäffer-Poeschel.

    Google Scholar 

  12. Forbes (2011): Cost of Living Extremely Well Index: The Price of Living Large Is Up. Forbes: http://www.forbes.com/sites/scottdecarlo/2011/09/26/cost-of-living-extremely-well-index-the-price-of-living-large-is-up/, Access: October 24, 2012.

  13. Grünweg, T. (2010). Rolls-Royce Ghost: Resturlaub für den Chauffeur. Spiegel Online: http://www.spiegel.de/auto/fahrberichte/0,1518,679420,00.html. Access: January 31, 2012.

  14. Han, Y. J., Nunes, J. C. & Drèze, X. (2010). Signaling Status with Luxury Goods: The Role of Brand Prominence. Journal of Marketing 74(4), pp. 15–30.

    Article  Google Scholar 

  15. Kapferer, J. N. (2012). The New Strategic Brand Management: Advanced Insights & Strategic Thinking. 5th ed., London et al.: Kogan Page.

    Google Scholar 

  16. Kapferer, J. N. & Bastien, V. (2009). The Luxury Strategy: Breaking the Rules of Marketing to Build Luxury Brands. London et al.: Kogan Page.

    Google Scholar 

  17. Keller, K. L. (2009). Managing the Growth Tradeoff: Challenges and Opportunities in Luxury Branding. Journal of Brand Management 16(5/6), pp. 290–301.

    Article  Google Scholar 

  18. Lamb, R. (2012). Swarovski St. Valentine’s Day discounts could harm jeweler’s luxury status. Luxury Daily: http://www.luxurydaily.com/swarovski-drives-online-transactions-through-st-valentine%e2%80%99s-day-promotion/. Access: January 31, 2012

  19. Lasslop, I. (2005). Identitätsorientierte Führung von Luxusmarken. In Meffert, H., Burmann, C. & Koers, M. (eds.), Markenmanagement: Identitätsorientierte Markenführung und praktische Umsetzung (pp. 469–494). Wiesbaden: Gabler.

    Google Scholar 

  20. Mohr, H. (2012). Der Preismanagement-Prozess für Luxusmarken: Gestaltung und Erfolgsauswirkungen. Frankfurt am Main: Peter Lang.

    Google Scholar 

  21. Simon, H. & Fassnacht, M. (2008). Preismanagement: Strategie – Analyse – Entscheidung – Umsetzung. 3rd ed., Wiesbaden: Gabler.

    Google Scholar 

  22. Sutton, H. (1990): The Marketing Plan in the 1990s. New York: The Conference Board.

    Google Scholar 

  23. Veblen, T. (1899). The Theory of the Leisure Class: An Economic Study in the Evolution of Institutions. New York: Macmillan.

    Google Scholar 

  24. Vickers, J. S. & Renand, F. (2003). The Marketing of Luxury Goods: An Exploratory Study-Three Conceptual Dimensions. Marketing Review 3(4), pp. 459–478.

    Article  Google Scholar 

  25. Von der Gathen, A. & Gersch, B. (2008). Global Industry Study: Profit Excellence In The Luxury Goods Industry. Bonn: Simon-Kucher & Partners.

    Google Scholar 

  26. Wilson, E. (2008). Retailers Limit Purchases of Designer Handbags. New York Times: http://www.nytimes.com/2008/01/10/fashion/10CAPS.html?pagewanted(all. Access: January 31, 2012.

Download references

Author information

Authors and Affiliations

  1. LS f. BWL, insbes. Marketing und Handel, WHU, Burgplatz 2, 56179, Vallendar, Deutschland

    Univ.-Prof. Dr. Martin Fassnacht & Philipp Nikolaus Kluge

  2. Schirmerstr. 39, 40211, Düsseldorf, Deutschland

    Dr. Henning Mohr

Authors
  1. Univ.-Prof. Dr. Martin Fassnacht
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Philipp Nikolaus Kluge
    View author publications

    You can also search for this author in PubMed Google Scholar

  3. Dr. Henning Mohr
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Martin Fassnacht .

Editor information

Editors and Affiliations

  1. Lst. f. innov. Markenmanagement, WiWi Gebäude, Raum 226, Universität Bremen, Hochschulring 4, Bremen, 28359, Germany

    Christoph Burmann

  2. Duale Hochschule Baden-Württemberg (DHBW, Coblitzallee 1-9, Mannheim, 68167, Germany

    Verena König

  3. Kaistraße 13, Düsseldorf, 40221, Germany

    Jörg Meurer

Rights and permissions

Reprints and permissions

Copyright information

© 2012 Springer Fachmedien Wiesbaden

About this chapter

Cite this chapter

Fassnacht, M., Kluge, P., Mohr, H. (2012). Do Luxury Pricing Decisions Create Price Continuity?. In: Burmann, C., König, V., Meurer, J. (eds) Identitätsbasierte Luxusmarkenführung. Springer Gabler, Wiesbaden. https://doi.org/10.1007/978-3-8349-4060-5_8

Download citation

  • DOI: https://doi.org/10.1007/978-3-8349-4060-5_8

  • Published:

  • Publisher Name: Springer Gabler, Wiesbaden

  • Print ISBN: 978-3-8349-4059-9

  • Online ISBN: 978-3-8349-4060-5

  • eBook Packages: Business and Economics (German Language)

Publish with us

Policies and ethics

Search

Navigation