dr Wioleta DRYL – Wydział Zarządzania, Uniwersytet Gdański, ul. Armii Krajowej 101, 81-824 Sopot, Polska; e-mail: wioleta.dryl@ug.edu.pl
mgr Piotr JUCHNIEWICZ – doktorant, Uniwersytet Komeńskiego w Bratysławie, Wydział Nauk Społecznych i Ekonomicznych, Šafárikovo námestie 6, 814 99 Bratislava, Słowacja
Received 4.06.2024. Accepted 10.06.2024
Abstract
Purpose: The aim of the article is to identify and analyze the role of quality in assessing the value of luxury products. The perception of quality constitutes a highly complex concept in the case of luxury goods, the essence of which goes beyond the frameworks of functionality, utility, and the level of satisfying basic consumer needs. The article also attempts to indicate which factors shape the perceived quality of luxury products.
Design/methodology/approach: The study employed methods such as critical analysis of the literature and selected research findings conducted in the analyzed area, as well as methods of synthesis and logical inference.
Findings/conclusions: The quality of luxury goods is not only a function of price and actual quality but primarily perceived quality, which has a decisive influence on consumers’ purchasing decisions. Psychological perception of quality constitutes one of the foundations of a luxury brand’s image, as well as a factor rationalizing consumers’ purchasing decisions. There is also significant importance of quality in building relationships with consumers of luxury goods. Quality is also a tool to support brands in adapting to contemporary market requirements, such as sustainable development or functioning in the e-commerce market.
Research limitations: This study conducted an analysis of the literature and selected research findings regarding the quality of luxury goods, which serves only as an introduction to further in-depth research in this area.
Practical implications: The presented analyses provide information guiding further research processes in this area. Identified areas in which the quality of luxury products is considered indicate a strong need for further in-depth qualitative and quantitative research in this area.
Originality/value: Previous studies in this area focus on a broad approach to general issues related to the value of luxury products, treating quality as one of its determinants. The article focuses on the role of quality in shaping the value of luxury products. It identifies factors that go beyond rational quality determinants, subjecting to analysis variables shaping perceived quality, which in the case of luxury goods reflects the actual extent of this phenomenon.
Keywords
perceived quality, luxury product, value of luxury product