The effect of brand equity on intrinsic and extrinsic motivations of consumers for luxury consumption tendency

Consumption is not only to meet basic needs today. Consumers' consumption preferences and understanding of consumption are also changing with the effect of globalization. In this sense, some consumers tend to conspicuous consumption, while others have adopted a plain and simple lifestyle. In today's world, women make their presence felt in both working and social life and at the same time, women achieved their economic independence and reached a noticeable majority. Social and financial changes in recent years show that women are an important part of producing and consuming society. Women's participation in luxury consumption varies according to age, marital status, education level, and income level. The intent of this study is to investigate the effects of brand equity and its dimensions - brand loyalty, brand awareness, brand associations, perceived quality - on the intrinsic and extrinsic motivations of working women consumers on luxury goods purchasing behavior and luxury consumption tendency. The universe of the research consisted of working woman consumers over the age of 18 and in Turkey's three-largest province of Ankara, Istanbul, and Izmir. In the research, the survey method has used to collect data, and 3 different scales have used to evaluate the data. The data obtained were analyzed with the statistical package program SPSS 25.0. The Multiple Regression Analysis methods, which is a parametric test, was used to define the relationship between variables. According to the results obtained in the study, it observed that working women, who constituted the sample of the research, preferred shoes from the product groups they found luxurious. It has been seen that the brand plays a crucial role in the purchasing behavior of consumers. It has been confirmed that brand equity and its dimensions have a positive and decisive effect on the luxury consumption tendency. Among these dimensions, it is seen that the effects of brand loyalty and brand awareness on purchasing behavior are greater than other dimensions. Luxury consumption tendency is a tool that enables the consumer to accept himself and socialize. Consumers motivated by extrinsic factors have a higher propensity to consume luxury than consumers motivated by intrinsic factors. Externally motivated female consumers purchase luxury products not only for their quality but likewise for social purposes such as image and influencing others.