Consumer Perception of the Value of Brand Heritage

Abstract: Brand heritage and consumer perceived value are two concepts which separately have received a growing interest among academics for quite some time. However both of them combined, hence consumers’ perception of the value of brand heritage is a relatively unexplored field of research. This study therefore intends to explore how consumers perceive the value of brand heritage of luxury fashion brands. To achieve this purpose, the study will investigate consumers’ perception of the value of brand heritage of four European luxury fashion brands – Burberry, Chanel, Gucci, and Louis Vuitton – which serve as illustrative/reference brands in this study. These four European luxury fashion brands are chosen as illustrative brands in this study based on the determination that heritage is a central part of their brands. Secondary data was collected through Internet based document analysis of the illustrative brands to determine whether these qualify as heritage brands. Furthermore, semi-structured interviews were conducted to collect primary data for the purpose to explore how consumers perceive the value of brand heritage of the illustrative brands. The findings of the study reveal that consumers perceive the value of the brand heritage of the illustrative brands because it serves as a source of credibility and trust between the consumers and the brands. There is a perception that the brands have managed to maintain a certain standard regarding quality and craftsmanship, and likewise delivered according to consumers’ expectations over time. Furthermore consumers perceive the value of the brand heritage of the illustrative brands since it contributes to a sense of belongingness and social acceptance. They value the identity and meaning of the illustrative brand, hence the perception that the brands have managed to persistently deliver according to their core values and promises over time. It provides the consumers with the opportunity to connect with the brands on a personal level and to create their own individual identities and lifestyles through the brands. All this, in combination with the perception of the brands as timeless and durable, that they inhabit a sense of credibility and trust, which in the long run may generate loyalty - they value that the brands are loyal to them - conclude how consumers perceive the value of the brand heritage of the illustrative brands.