The Impact of Limited Edition Products in Shaping Consumer Perception and Purchase Intention

Lai, Ee Shen (2024) The Impact of Limited Edition Products in Shaping Consumer Perception and Purchase Intention. Final Year Project (Bachelor), Tunku Abdul Rahman University of Management and Technology.

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Abstract

This research investigates the impact of limited edition products in shaping consumer perception and purchase intention, with a particular focus on Generation Z (Gen Z) urban consumers in Malaysia. Gen Z are individuals born between 1995 and 2010, are digital natives who value individuality, authenticity, and trends, often influenced by social media, influencers, and online platforms. Known for their strong brand awareness and preference for unique experiences, this cohort plays a significant role in shaping modern consumer trends. Moreover, limited edition products, defined as items produced in restricted quantities or for a specific time frame, are a popular marketing tool designed to create a sense of scarcity, exclusivity, and urgency. These products often feature distinctive attributes such as unique designs, special collaborations, or exclusive packaging, making them more appealing to Gen Z, who view these items as status symbols and expressions of personal identity. Besides, this study employs the Theory of Planned Behavior (TPB) and AISDALSLove model to explore the psychological and emotional factors that drive consumer behavior toward limited edition products. Key findings reveal that Gen Z's perception of limited edition products is strongly tied to emotional responses such as excitement, nostalgia, and fear of missing out (FOMO), amplified by digital marketing strategies, celebrity endorsements, and social media trends. Additionally, the exclusivity and scarcity of limited edition products enhance their perceived value and create a sense of urgency, further motivating purchase intention. This research provides valuable insights into the evolving dynamics of consumer behavior among Gen Z, emphasizing the importance of aligning marketing strategies with their values and digital habits. It also underscores the critical role of limited edition products in enhancing brand image, fostering emotional connections, and boosting sales. The findings are particularly relevant for marketers seeking to engage this influential demographic effectively. The study concludes by calling for further research into the long-term impact of limited edition marketing strategies on consumer trust, loyalty, and brand equity.