luxury goods
Factors that motivate customers towards buying decision of luxury product
A survey of Chinese customer in China
Prepared by:
Zhang Yuwen (Grace)
014201100227
Lecture by: Orlando R.Santos Subject for: Research Methodology
President University
Bekasi-West Jawa Indonesia
Ⅰ Introduction
1.1 Background of Study
For luxury product and brand in the past three decades, Chinese market is unprecedented booming. From Pierre Cardin dominate early, later Louis Vuitton Illustrious, to each proliferation of luxury brands, the Chinese luxury high-end consumer tasted bud grow vitality and enjoyed the excitement noisy fanatical pursuit of luxury brands. While luxury product appears to be the public think that is only a small number of people can have the products, but according to the China 's current level of economic development and consumer purchasing level has been able to provide basic guarantee for the development of the luxury industry.
Actually in the Chinese dictionary, the meaning of "luxury" is synonymous with "waste". And luxury goods in English is originated from Latin roots luxus, meaning is "strong reproductive capacity", this kind of description also expresses the luxury of the characteristics of "too much and waste". But in the modern society, the meaning itself has completed the transformation from negative to neutral. At the book "luxury brand management," zhouyun, P.2010 gives a board definition to luxury goods, which is luxury goods as a hope, a dream. Because it is the hopes and dreams, so it is demanding for the people, once people have can get intense pleasure and enjoyment, but also shows it is not the necessities of human life. At present, a very noteworthy trend is the concept of "luxury" of being extended outward. The concept of "new luxury" arises at the historic moment; the new luxury refers to are those goods and services that better than other similar products in the quality of goods, higher grade, better
A survey of Chinese customer in China
Prepared by:
Zhang Yuwen (Grace)
014201100227
Lecture by: Orlando R.Santos Subject for: Research Methodology
President University
Bekasi-West Jawa Indonesia
Ⅰ Introduction
1.1 Background of Study
For luxury product and brand in the past three decades, Chinese market is unprecedented booming. From Pierre Cardin dominate early, later Louis Vuitton Illustrious, to each proliferation of luxury brands, the Chinese luxury high-end consumer tasted bud grow vitality and enjoyed the excitement noisy fanatical pursuit of luxury brands. While luxury product appears to be the public think that is only a small number of people can have the products, but according to the China 's current level of economic development and consumer purchasing level has been able to provide basic guarantee for the development of the luxury industry.
Actually in the Chinese dictionary, the meaning of "luxury" is synonymous with "waste". And luxury goods in English is originated from Latin roots luxus, meaning is "strong reproductive capacity", this kind of description also expresses the luxury of the characteristics of "too much and waste". But in the modern society, the meaning itself has completed the transformation from negative to neutral. At the book "luxury brand management," zhouyun, P.2010 gives a board definition to luxury goods, which is luxury goods as a hope, a dream. Because it is the hopes and dreams, so it is demanding for the people, once people have can get intense pleasure and enjoyment, but also shows it is not the necessities of human life. At present, a very noteworthy trend is the concept of "luxury" of being extended outward. The concept of "new luxury" arises at the historic moment; the new luxury refers to are those goods and services that better than other similar products in the quality of goods, higher grade, better
References: 1. Zhouyun P.(2010). "Luxury brand management," 45-87 2. Michael Silverstein, P. (2005). Trading Up: The New American Luxury 3. Chadha, R., & Husband, P. (2010). The cult of the luxury brand: Inside Asia 's love affair with luxury. London: Nicholas Brealey International. 4. Charles Edouard Bouee.(2012) A brand awareness upgrade “Welcoming a new era in the Chinese luxury market” 5. "China revises 2007 GDP growth rate to 13%".Xinhuanet. 2009-01-15. Retrieved 2009-01-15. 6. Wood, Zoe. "LVMH 's 'remarkable ' Half-year Results Reveal Luxury Is Back in Fashion." The Guardian. Guardian News and Media, 26 July 2011. Web. 20 Feb. 2012.