ANALYSIS OF NEW LUXURY, SOCIETAL CHANGES AND IMPLICATIONS FOR THE MARKETING OF AUTOMOTIVE PREMIUM BRANDS AT THE BEGINNING OF THE 21st CENTURY

Project: Projects from Previous Employment

Project Details

Description

The world is subject to constant change. Besides the energy sector, however, there is probably no other industry which is changing as much as the automotive and the luxury industry at the moment. Mature markets, a new status landscape, and the change of values have led to a new form of luxury in industrialised societies like Western Europe, Japan, and the USA. While more and more people in these mature markets are searching for a more sophisticated, more private, less material and more value driven way of luxury, emerging countries are showing rather ostentatious luxury consumption behaviour. Apart from that, the sustainability trend, electric mobility, new mobility concepts and a new way of communication in the digital era are also challenging the traditional marketing of automotive premium brands. The number and extent of these changes are exceptional and their collective impact will durably reshape the automotive premium industry.
The aim of this PhD thesis is therefore to contribute to the clarification of the future of luxury correlated with the aforementioned trends, in order to derive implications and future success factors for automotive premium brands in this context.
Based on the principles of grounded theory, this exploratory work takes a holistic approach covering academic, expert, and consumer perspectives. It therefore presents an interdisciplinary literature review involving semantic, economic, psychological, historic-societal, and philosophical perspectives. Furthermore, a qualitative interview poll with 34 experts from nine different countries working in eight different industries and in the science sector, was conducted. In addition to this, three focus groups with consumers between the ages of 25 and 35 years were held.
The results of the study support a paradigm shift in luxury consumption and the understanding and usage of premium automobiles.
Based on the conjectures of the findings regarding the change in luxury consumption, the future of automotive luxury and implications for automotive premium brands are introduced in this context.
StatusFinished
Effective start/end date1/10/151/10/18