The Antecedents and Consequences of Brand Prestige in Luxury Restaurants

Abstract

The purpose of this study was to investigate the antecedents and consequences of brand prestige in luxury restaurants. Based on the existing theoretical background, it was proposed that four types of brand-related stimulus form brand experience in consumer memory and thus influence the formation of brand prestige. Through a review of the literature, it was also hypothesized that brand prestige can result in five managerial outcomes: patrons' well-being perception, information costs saved, perceived price fairness, satisfaction and behavioral intentions. Based on the theoretical relationships between the conceptual constructs, a model was proposed and then tested utilizing data collected from 527 luxury restaurant patrons. The results of data analysis indicate that two types of brand-related stimulus (sensory and intellectual) aid in the creation of brand prestige, and can thus help to: enhance patrons' well-being perception; reduce patrons' information searching efforts; and enhance perceived price fairness. As a result, patron satisfaction and positive behavioral intentions can be induced. The critical managerial implications of these findings are then discussed in the latter part of the article