Luxury Product research
Research Goal:
The main goal of this study is to examine the influence of culture on people's luxury consumption from both psychological and behavioral aspects, specifically in China and the United States. By examining the differences in cultures, I will be able to sumarize consumer characteristics in these two countries and make marketing recommendations for brands that want to target these two markets. I will then provide successful examples of brands that have successfully employed the marketing strategies that fit the characteristics of the consumers.
Research Procedure:
1) Investigate how culture in general influence luxury goods or general goods consumption
2) Examine the motivation behind purchasing luxury goods in both the Chinese and the U.S contexts
3) Determine how cultures or the prevailing value system in the societies have caused consumers in each country to behave/think in certain ways
4) Project how these phenomenons are going to develop or shift in the short/long term
5) Make recommendations to marketers who are targeting these two groups of consumers
6) Illustrate successful examples of companies that have gained favorable positions in these countries
Literature Review (general direction)
The concept of luxury
Culture dimensions
Value systems of each country
Historical and economic characterics of each country that might have impacted consumer behaviors
Differences in the definition of "luxury" between these two countries and possible explanaiton of the differences
Hypothesis: Due to the sigfinicant impact of cultures and social value systems on individuals in China and the United States, there is significant disparities between personal value and perceiption of phenomenoes within these two countires. This in turn causes the differences in the motivation behind and behaviors toward luxury consumptions in these two countries. More specifically, Chinese consumers are more society-conscious and pursue superficial
The main goal of this study is to examine the influence of culture on people's luxury consumption from both psychological and behavioral aspects, specifically in China and the United States. By examining the differences in cultures, I will be able to sumarize consumer characteristics in these two countries and make marketing recommendations for brands that want to target these two markets. I will then provide successful examples of brands that have successfully employed the marketing strategies that fit the characteristics of the consumers.
Research Procedure:
1) Investigate how culture in general influence luxury goods or general goods consumption
2) Examine the motivation behind purchasing luxury goods in both the Chinese and the U.S contexts
3) Determine how cultures or the prevailing value system in the societies have caused consumers in each country to behave/think in certain ways
4) Project how these phenomenons are going to develop or shift in the short/long term
5) Make recommendations to marketers who are targeting these two groups of consumers
6) Illustrate successful examples of companies that have gained favorable positions in these countries
Literature Review (general direction)
The concept of luxury
Culture dimensions
Value systems of each country
Historical and economic characterics of each country that might have impacted consumer behaviors
Differences in the definition of "luxury" between these two countries and possible explanaiton of the differences
Hypothesis: Due to the sigfinicant impact of cultures and social value systems on individuals in China and the United States, there is significant disparities between personal value and perceiption of phenomenoes within these two countires. This in turn causes the differences in the motivation behind and behaviors toward luxury consumptions in these two countries. More specifically, Chinese consumers are more society-conscious and pursue superficial