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54. understanding luxury consumer behavior to build luxury brand marketing

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54. understanding luxury consumer behavior to build luxury brand marketing

  1. 1. Understanding luxury consumer behavior to build luxury brand marketing Table of Content 1 Introduction.......................................................................................................................... 3 2 Luxury consumer behavior .................................................................................................. 3 3 Marketing towards luxury consumer behaviour .................................................................. 7 3.1 Challenges in luxury marketing.................................................................................... 7 3.2 Anti-law of luxury marketing....................................................................................... 8 4 Conclusion ......................................................................................................................... 10 Reference.................................................................................................................................. 11
  2. 2. Abstract Marketing of luxury brands is considered as relatively new in the field of brand marketing with the lack of fundamental knowledge in regards of consumer behavior in luxury industry. This study first provides literature review on the luxury consumer behavior and then, presents relative issues related to marketing towards luxury consumer behavior including its challenges as well as rules to get over them. Introduction Recently, luxury marketing is introduced as a new concept in the field of marketing. It is considered as the next generation growth engines of what national support play a significant role such as France, Italy and Japan (Atwal and Williams, 2009) with brands those image immediately crossed consumer’s minds just by hearing their names like Louis Vuitton, Gucci or Chanel. These luxury brands provide prestige to those customers using them, highest qualities towards their long histories and traditions of which their products are selling by interactional network of distributing. Regardless the recent financial crisis and economic depression, there is still growing trend of luxury brands worldwide through strong powers and asset of brands (Kapferer, 2012). Resulting from this trend, enterprises show their interests in promoting business targeted to those customers who purchase expensive products of luxury brands. Thus, this study provides the fundamental knowledge in terms of luxury brands including parameters and consumption as well as the measuring perceptions of luxury values. Furthermore, the theory of luxury anti-law of marketing is presented as the law to overcome the circumstances of consumption reduction caused by recent financial crises and depression. …………………………………………………………………………………………….. Conclusion This study has review the customer behaviour in luxury industry through both theoretical and empirical approach. Moreover, on the basic of anti law of marketing, this study has proposed some managerial principles for luxury branding strategies, which aim to safely drive firms
  3. 3. through economic crisis and consumption depression without the needs of reducing price rather keep on gaining through growing the price. This document is provided by: VU Thuy Dung (Ms.) Manager Center for Online Writing Resources Facebook : https://www.facebook.com/vu.thuydung.5076 Email : assignmentsource@gmail.com Blogger : http://assignmentsource.blogspot.com/ Website : http://assignmentsource.com/

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