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Copyright of Journal of Financial Politic & Economic Reviews / Finans Politik & Ekonomik Yorumlar is the property of Journal of Financial Politic & Economic Reviews / Finans Politik & Ekomomik Yorumlar and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In recent years, the luxury market has grown rapidly in both developed and developing countries. In the historical process, the concept of traditional luxury and market structure has changed especially with the effect of globalization and internet. Today, the importance of the Y generation is increasing within the luxury market that concerns much more consumers. The luxury perceptions and definitions by the members of this generation representing the young population have an effective role in determining the marketing strategies for businesses. Nevertheless, studies examining the luxury perceptions and definitions of the Y generation are quite limited. As there is no such study in the Turkish context, an exploratory research was conducted. In order to reveal the luxury definitions of Generation Y, a survey was conducted and data collected from 155 participants were analysed using content analysis. This study highlights that the definitions of luxury by Generation Y are content, personal and socially oriented. Moreover this study investigated to what extent the adjectives in literature are associated with luxury. It is concluded that all adjectives are related with luxury to a great extent, and the personal influences especially within the framework of the new luxury are deemed important in terms of luxury perceptions. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Social Sciences & Humanities Researches is the property of Mugla Sitki Kocman University, Institute of Social Sciences and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Luxury consumption, as a dynamic process, has wide range of meanings in different dimensions in ever-growing luxury markets. This phenomenon is usually explained by traditional and new luxury concepts. In the past luxury was described as high priced, rare, unique goods and services that only wealthy people can buy in the society, today luxury also includes relatively affordable and easily accessible products that middle class can purchase. The role of personal (internal) variables, which determine consumers' purchasing behavior of luxury goods and services, becomes increasingly important in terms of marketing strategies, market segmentation and marketing mix. In this study the personal determinants of luxury consumption which are shaped by value perceptions and that guide business policies were investigated. In this framework, evaluations were made regarding quality, hedonic, materialistic and self-identity values. According to the results of the study, luxury consumption is affected not only by interpersonal (social) interaction but also by personal values depending on the temporal transformation. [ABSTRACT FROM AUTHOR]