ROLE OF SOCIAL MEDIA MARKETING AND PRICE SENSITIVITY ON PURCHASE BEHAVIOUR: AN SEM-BASED STUDY ON LUXURY PRODUCTS
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Keywords

Consumer Behavior
Price Sensitivity
Value - Co-Creation
Intention to Purchase
Social media marketing

How to Cite

Haque, I., Anwar, A., & Zaman, S. I. (2022). ROLE OF SOCIAL MEDIA MARKETING AND PRICE SENSITIVITY ON PURCHASE BEHAVIOUR: AN SEM-BASED STUDY ON LUXURY PRODUCTS. Global Journal for Management and Administrative Sciences, 3(4), 1–28. Retrieved from https://gjmasuok.com/index.php/gjmas/article/view/145

Abstract

The primary purpose of the study was to investigate customer behaviour regarding luxury products in reference to Social media marketing and price sensitivity. The evaluation must be conducted to determine the effect of Social media and Price sensitivity on Consumer Behavior. The research focused the analysis on 100 responses about price sensitivity and social media. This study is ongoing research, and a continuation of this paper is being done with other variables using a representative sample, which will be compiled in another comparative study. Millennial customers have been connected with an environment preference, socially responsible items, and high-tech goods; they have been exposed to fast-spending, hedonistic consumers; nonetheless, there is little unanimity over the generation's behaviour. The debate is whether millennials are more price-sensitive, convincible through social media marketing or sensitive to the ethical consumption of valuable goods. The primary purpose of the empirical study was to investigate millennial utilitarian consumer behaviour in terms of their cause by price-sensitive and Value - Co-Creation and their propensity to buy from a company active in corporate citizenship (CSR). We constructed a model for focusing on a particular practical product to examine millennial consumers' inclination towards social media messages and price sensitivity about luxury products. The results indicate that millennial customers are less price-conscious regarding product attributes and prioritize value-co-creation over budget when social media marketing involvement is highlighted. In terms of management, the results highlight the need to establish a more uniform consumer perception to study their intention, motivation, and attitude toward organic foods (considered luxury in the region's society). Important aspects include the analysis of the relationship between price and consumer behaviour and the decision-making of customers.

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