This ‘conspicuous consumption’ is best explained by relating the term to a significant association with the eight value types of Holbrook’s (1999) consumer value’s model. The relevant value types according to the researcher include values of status (i.e. impression, success) and esteem (i.e. reputation, materialism). This implies that luxury goods have high impact and correlation to consumer value. Moreover, ‘conspicuous consumption’ is also relevant to the research of Sheth, Newman, & Gross (1991) that underlined the significance of social value (i.e. social image by which consumers desire to be viewed) and emotional value (i.e. confidence that can be gained by the view of society).
Weidmann, Hennigs & Siebels (2007) add that luxury consumption is capable of triggering various types of high level of physical and psychological values. The dominant values include symbolic, expressive, and emotional values (Tynan, McKechnie & Chhuon, 2010). These enable the formation of desire and satisfaction which are considered valuable beyond the functionality of the product (Vickers & Renand, 2003). The researchers also advocate that these factors are the point of differentiation between luxury and non-luxury brands
.
conspicuous value