1.
Rahela Farooqi
– Centre For Management Studies, Jamia Millia Islamia, New Delhi, India
2.
Shadma
– Centre For Management Studies, Jamia Millia Islamia, New Delhi, India
Abstract
India is home to some of the richest men in the world, with the fastest growing high net worth individuals (HNIs) in the Asia-Pacific region, the Indian luxury market is the beacon of the future. Numbers of international brands are vying to design, develop and deliver the high-end goods and services according to the needs of the Indian consumers. To do so, they are being forced to build their distribution and to spur consumer interest in products that arent familiar to many Indian shoppers. This paper highlights the consumer motivation for purchase of luxury products like handbags, footwear, accessories. It reveals that
consumers buy the luxury goods due to their brand names and are not affected by price tag attached with luxury products. It confirms the relationship between consumers purchase of the luxury goods and
status symbol.
Keywords Marketing, Consumer Behavior, Consumer Decision Making, Luxury Goods
