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Gonçalves, A.S., Martinez, L.M. & Ramos, F.R. (2023). The influence of color in the decision making process: Luxury brands. 7th Theory and Applications in the Knowledge Economy (TAKE).

A. Gonçalves et al.,  "The influence of color in the decision making process: Luxury brands", in 7th Theory and Applications in the Knowledge Economy (TAKE), Sopot, 2023

@misc{gonçalves2023_1732205825183,
	author = "Gonçalves, A.S. and Martinez, L.M. and Ramos, F.R.",
	title = "The influence of color in the decision making process: Luxury brands",
	year = "2023",
	howpublished = "Digital",
	url = "https://kmeducationhub.de/international-scientific-conference-theory-applications-knowledge-economy-take/"
}

TY  - CPAPER
TI  - The influence of color in the decision making process: Luxury brands
T2  - 7th Theory and Applications in the Knowledge Economy (TAKE)
AU  - Gonçalves, A.S.
AU  - Martinez, L.M.
AU  - Ramos, F.R.
PY  - 2023
CY  - Sopot
UR  - https://kmeducationhub.de/international-scientific-conference-theory-applications-knowledge-economy-take/
AB  - a)	purpose

Research has shown that color is an influencing variable in the consumer buying behavior. In particular, the impact of color on luxury products is no exception. Previous studies revealed some complexity in the study of color, and it is also possible to notice some inaccuracies. Therefore, our main objective is to analyze the influence of color in the consumer purchase decision process in luxury brands. Other research objectives are: (i) understand if consumer trust towards luxury brands varies when associated with warm, cool, or neutral colors; (ii) analyze if there are consumer profiles that are more influenced by color, in this specific context of luxury brands. Additionally, emotions (positive and negative) towards color, motivations, purchase intention, and trust are also considered in this research.

b)	design/methodology/approach

The main objective of this study is to understand if the purchase intention and trust towards luxury brands change when associated with cool, warm, or neutral colors.
Hence, the following hypotheses are formulated:
H1a: When associated with luxury brands, cool colors (vs. warm and neutral colors) induce higher levels of trust
H1b: When associated with luxury brands, warm colors (vs. cool and neutral colors) induce higher levels of purchase intention
The second research objective is to understand if there are consumer profiles that are more influenced by color in the context of luxury brands.
Therefore, the following hypotheses are presented:
H2a: There is an association between gender and luxury brands
H2b: There is an association between gender and cool, warm and neutral colors
H2c: There is an association between age and luxury brands
H2d: There is an association between age and cool, warm and neutral colors

A descriptive design study was performed using an online questionnaire from Google Forms as a research tool. The questionnaire was available between April 7th and 29th, 2022 through social networks (e.g., Linkedin, Facebook, Instagram). A quantitative methodology was applied, using a descriptive and inferential analysis (e.g., testing to average equality, variance analysis, qui-square independence test), through the implementation of multivariate exploratory analysis techniques, such as factorial analysis in main components. Validated scales were applied and visual stimuli were used through the digital manipulation of product images.

c)	theoretical base 

According to MarketLine Industry Profile (2019), in 2018 Europe represented 31.6% of the global market value of luxury goods, and for 2023, an increase of 20.5% is expected. Regarding the concept of luxury, or what are luxury brands, Heine (2012) defined luxury brands as images in the minds of consumers who include associations about a high price, quality, aesthetics, rarity and a high degree of associations not functional. Moreover, the likelihood of buying luxury goods increases when the product is exclusive (Stathopoulou & BalaBanis, 2019), authentic (Cheah et al., 2016), personalized (Yoo & Park, 2016), creative (Cheah et al ., 2015), has a great history (Kessous & Valette-Florence, 2019) and has innovative marketing strategies (Janssen et al., 2017). Specifically, focusing on marketing strategies, color is one of the most elementary techniques used in marketing and produces behavioral effects that reflect buying attitudes (Martinez et al, 2021). Color causes emotional reactions that affect consumer behavior (Bagchi & Cheema, 2012; Biers & Richard, 2005; Schnurr et al., 2017). Thus, literature indicates that color is preponderant in the process of purchase decision for the effect it may have in consumers (Spence et al., 2014; Pastoureau, 2008). This influence, in luxury products, is no exception so the analysis of the impact that color might have in the decision-making process in this specific context, deserve some reflection.

d)	results

Considering the two color groups (warm and cool), the trust scale and purchase intention scale were applied. For trust, when associated with luxury brands, there is statistically significant evidence regarding the purchase intention (when compared to cool colors, with warm colors and neutral colors). The results show that at different levels of confidence, warm colors induce higher levels of trust in consumers. However, it should be noted that when analyzed colors in isolation, it is the black color that arouses higher levels of trust. 
For purchase intention, there is statistically significant differences when comparing warm colors to cool colors. The presence of warm colors has greater influence on the consumer purchase decision process, especially for red and orange colors. Thus, and considering the research hypotheses, it is possible to validate H1b and H1a was not validated.

To understand whether there are consumer profiles that are more influenced by the colors associated to luxury brands, it was found that gender has no effect in the buying process. Considering the relation between gender and the color group (cool, neutral and warm), the results reveal that there is also no gender difference towards warm, cool and neutral color, for luxury brands. Thus, the hypotheses H2a and H2b are not validated.
Moreover, there is an association between age (cohorts) and luxury brands. Results show that young people (18-25 years) have the greatest interest to purchase luxury products. As for the association between age and the group of warm, cool and neutral colors, the results show that for the group of neutral and warm colors there are no significant differences for different age groups. However, for the cool color group there are differences in the age group from 18 to 25 years vs. the age group from 46 to 55 years. Thus, H2c was not validated and H2d was validated.

e)	originality/value

The innovation of this research work lies on the impact of color on the luxury industry, as there are few studies conducted in this area. This project aims to be a contribution to ascertain whether, when colors are grouped by their temperature (warm, cool and neutral), there may be significant influences on decision making towards the purchase intention and consumer preferences. Specifically, it is intended to assess the influence on consumer trust and purchase intention towards luxury products.

f)	practical implications

This research aims to contribute to the literature with the deepening of the study on the importance of color in the consumer buying decision process in luxury brands, a topic that is still little explored in literature. Thus, marketers could create strategies and consequently competitive advantage. As already presented in the literature review, color is one of the most used techniques in marketing and causes behavioral effects that reflect buying attitudes (Martinez et al, 2021). Therefore, this study can contribute to the repositioning of established brands and to formulate specific color schemes that helps to reinforce the personality or identity of a brand.
In short, a luxury brand can use color to create solid relationships with the target market and as a differentiation strategy.
ER  -