Necessary perceptions of family values and luxury characteristics for brand luxuriousness: evidence from luxury watch brands

Conceptual literature and empirical research suggest that consumers' perceptions of family values governing brand management influence their perceptions of luxury brand characteristics. Together, these values affect consumers' perceived luxuriousness of brands. Empirical evidence concerning the necessary minimum levels of consumer perceptions of family values and luxury brand characteristics for achieving brand luxuriousness perceptions is missing. To compare average net effects and effect sizes of consumer perceptions of family values and luxury brand characteristics on perceived brand luxuriousness of family-owned and publicly owned brands, this research applies multiple regression analysis (MRA) and multiple necessary condition analysis (NCA). The findings from an online sample of luxury watch consumers owning one or several Swiss luxury watches show that family value perceptions become necessary only for high to very high perception levels of luxury characteristics. Consumer awareness of family ownership decreases the necessary levels of family value perceptions and luxury characteristics to achieve high brand luxuriousness. The application of NCA, in addition to MRA, provides interesting additional insights for luxury brand management theory and practice.