What is the correlation between men’s perceptions of traditional luxury factors and price for Air Jordan UL sneakers?
DOI:
https://doi.org/10.47611/jsrhs.v10i1.1355Keywords:
Unorthodox luxury, Social Status, Value Creation, Air Jordan, Cultural Impact, Quantitative SurveyAbstract
In the field of luxury goods, the factors of brand value and flashiness are seen to increase the value of traditional luxury goods. No research has been conducted to understand this relationship in unorthodox luxury sneakers. These sneakers command high resale prices in comparison to base models. This research analyzes the correlational relationship between perceptions of these factors in unorthodox luxury sneakers and their price. A survey conducted on US adult males was used to obtain perceptions, and prices were taken from multiple resale sites. The averaged values were then put through a Pearson Correlation test. For both factors, there was little to no relationship found and a statistically insignificant P-value. However, the results completely contradicted previous research regarding luxury goods and what factors derive their value. With this, the knowledge can be tested on a larger scale with a broader population to see if the trend continues. If so, this new knowledge could greatly affect the information available to firms and thus have a direct impact on future business strategy formulation, specifically in the UL sneaker market.
Downloads
References or Bibliography
Aït-Sahalia, Y., Parker, J., & Yogo, M. (2004). Luxury goods and the equity premium. The Journal of Finance, 59(6), 2959-3004. Retrieved from www.jstor.org/stable/3694794
Badenhausen, K. (2019, August 29). The NBA's richest shoe deals: LeBron, Kobe and Durant are still no match for Michael Jordan. Retrieved January 8, 2020, from https://www.forbes.com/sites/kurtbadenhausen/2019/08/28/the-nbas-richest-shoe-deals-lebron-kobe-and-durant-are-still-no-match-for-michael-jordan/#187d6a513d02.
Bellezza, S., Gino, F., & Keinan, A. (2014). The red sneakers effect: Inferring status and competence from signals of nonconformity. Journal of Consumer Research, 41(1), 35-54. doi:10.1086/674870
Brand Value: definition in the Cambridge English Dictionary. (n.d.). Retrieved January 11, 2020, from https://dictionary.cambridge.org/us/dictionary/english/brand-value.
Chow, L. E. (2014). You see sneakers, these guys see hundreds of millions in resale profit. Retrieved December 16, 2019, from https://fivethirtyeight.com/features/you-see-sneakers-these-guys-see-hundreds-of-millions-in-resale-profit/.
Crane, D. (1999). Diffusion models and fashion: A reassessment. The annals of the American Academy of Political and Social Science, 566, 13-24. Retrieved from http://www.jstor.org/stable/1048839
Fassnacht, Martin, et al. “Pricing luxury brands: Specificities, conceptualization and performance impact.” Marketing: Zeitschrift Für Forschung Und Praxis, vol. 35, no. 2, 2013, pp. 104–117., www.jstor.org/stable/41922280.
Flashiness: definition in the Cambridge English Dictionary. (n.d.). Retrieved January 11, 2020, from https://dictionary.cambridge.org/us/dictionary/english/flashiness.
Garriga, H., Von Krogh, G., & Spaeth, S. (2013). How constraints and knowledge impact open innovation. Strategic Management Journal, 34(9), 1134-1144. Retrieved January 13, 2020, from www.jstor.org/stable/23471031
Han, Young Jee, et al. “Signaling status with luxury goods: The role of brand prominence.” Journal of Marketing, vol. 74, no. 4, 2010, pp. 15–30. JSTOR, www.jstor.org/stable/27800823.
Hartmann, Douglas. “The sanctity of sunday football: Why men love sports.” Contexts, vol. 2, no. 4, 2003, pp. 13–21. JSTOR, www.jstor.org/stable/41800810.
Hornig, Tobias, et al. “The role of culture for pricing luxury fashion brands.” Marketing: Zeitschrift Für Forschung Und Praxis, vol. 35, no. 2, 2013, pp. 118–130., www.jstor.org/stable/41922281.
Leiponen, A., & Helfat, C. (2010). Innovation objectives, knowledge sources, and the benefits of breadth. Strategic Management Journal, 31(2), 224–236. Retrieved from www.jstor.org/stable/40587435
Miner, Dylan A. T. “Provocations on sneakers: The multiple significations of athletic shoes, sport, race, and masculinity.” CR: The New Centennial Review, vol. 9, no. 2, 2009, pp. 73–107. JSTOR, www.jstor.org/stable/41949645.
Revilla, M. A., Saris, W. E., & Krosnick, J. A. (2014). Choosing the number of categories in agree-disagree scales . Sociological Methods & Research, 43, 73–79. Retrieved from https://drive.google.com/file/d/1B_hVbKdytqhHVgE4VXrj0SbAJMvvUmfl/view
Rindova, Violina, et al. “A cultural quest: A study of organizational use of new cultural resources in strategy formation.” Organization Science, vol. 22, no. 2, 2011, pp. 413–431. JSTOR, www.jstor.org/stable/20868868.
Social Science Statistics. (n.d.). Retrieved March 7, 2020, from https://www.socscistatistics.com/
Twigg, J. (2018). Dress, gender and the embodiment of age: men and masculinities. Ageing and society, 1–21. Retrieved from https://www.cambridge.org/core/journals/ageing-and-society/article/dress-gender-and-the-embodiment-of-age-men-and-masculinities/8B4C744C3B76AAD6AE34BDF2828F1C56/core-reader
Vigneron, F., & Johnson, L. W. (2004). Measuring perceptions of brand luxury. Retrieved from https://link.springer.com/chapter/10.1007/978-3-319-51127-6_10.
Walker, O. C., & Reukert, R. W. (1987). Marketing's role in the implementation of business Strategies: A critical review and conceptual framework. Journal of Marketing, 51(3), 15–33. Retrieved from www.jstor.org/stable/1251645
Published
How to Cite
Issue
Section
Copyright (c) 2021 Nikolaos Diamantopoulos; Daniel Olivo, Mathew Dalzell, Norina Sfeir
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Copyright holder(s) granted JSR a perpetual, non-exclusive license to distriute & display this article.
