Factors Shaping Attitudes towards Niche Luxury Cars Resulting from Brand Extensions

Abstract

Global business has witnessed multiple automotive companies being positioned as niche market players. Such organizations are more frequently prone to apply inhomogeneous marketing approaches to meet some contemporary customers' desires for change and innovation. Such actions can modify customers' overall evaluation of the brand. In this regard, behavioral, cognitive, and affective aspects of attitude shall be monitored and continuously calibrated. In particular, self-image, conformity, and desire for uniqueness are purported to be among the key influencers of attitude alterations in luxury market segments. This brings questions about empirical testing of different attitudinal variables for the purposes of market offering to forefront of managerial discussion of automotive companies.This article delves into the factors that shape consumer attitudes towards niche car brands of class "F" on the Bulgarian new cars market. It makes reference to some critical aspects that can steer change in the way these brands market themselves and attempts to identify the shifting nature of consumer attitudes related to niche luxury car purchase and ownership. The main objective of the paper is to present part of the findings of a broader study on the image effects from downward brand extensions by putting a special emphasis on the variables, shaping the attitudes towards niche car brands. It also presents some conceptual and methodological aspects that can be used for studies in other industries (e.g. consumer electronics, luxury apparel, etc.). The article holds practical value for market players as it tries to classify multipliers of success for companies practicing nichemanship.