Social Media Marketing and Willingness to Pay Premium Prices: A Multiple Mediation Model

摘要

Luxury brands have been adopting and applying social media marketing as a promising promotional strategy for brand and reputation building (Kim and Ko, 2012). A luxury brand provides pleasure as a central benefit and connects with consumers on an emotional level. Consumers' pleasurable consumption experiences such as fun, fantasy, refinement, and entertainment are an essential explanatory factor for the consumption or possession of luxury brands (De Barnier et al, 2006; Holbrook and Hirschman, 1982). With the ubiquity of social media marketing that has changed the way consumers interact with brands (Lamberton and Stephen, 2016), how is social media marketing influencing consumers' close relationship with a luxury brand and willingness to pay premium prices?