Paper Example on Luxurious Life

2021-06-17 12:51:33
5 pages
1261 words
Categories: 
University/College: 
University of Richmond
Type of paper: 
Dissertation
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 Abstract

CHAPTER 1: INTRODUCTION

Background information

Luxurious life is no longer confined today to just the wealthy, and the chose few yet is being utilized for mass advertisement in the 21st century (Bhanot et al. 2014, p. 173). The idea of extravagance has been changing drastically crosswise over time and culture. Prior, extravagance was associated with things like wines, champagne, architect garments and games autos. Currently, people have turned out to be well-off, and extravagance is a concealed grouping that is no longer the save of the affluent neighbourhood. An ever-increasing number of shoppers have expanded their budgetary status as the old estimations of convention and honourability have turned out to be less imperative. Individuals are having more extra cash in contrast with prior eras substantially, bringing about a predisposition towards substantiating individual needs and goals through experience. In this way, one might say that extravagance is more about the experience (Yeoman 2011, p.48), as opposed to money related esteem.

It is not necessarily the case that extravagance is about status, yet extravagance is more than money related respect. In reality, they run as one. The necessity for personal delight and goals has provoked more noticeable emphasis on having things which increase life simplicity. It implies that buyers need to enhance their life. This is what Danziger (2005) mean when they say that extravagance is limited to flashy lifestyle for elders besides spreading things giving stylish experience and liberality. This is likewise because of expansion of acquisition expensive goods by ladies in the public arena, which is a decent sign for luxurious goods in the markets, for instance, products related to prosperity, garments, and tourism. We see that the prior idea of luxurious lifestyle incorporate the utilization and elitism stills wins particularly in rising economies of China. In the current circumstances, the Global Financial Crisis has driven purchasers to re-evaluate their needs, and as a result, states of mind and practices towards luxury have changed.

The distinction between luxury products and normal item is visible from their fundamental attributes (Heinemann 2008). The need for luxurious life is stimulated by factors such as monetary esteem, quality, style and status of living. These attributes are relative terms. Luxurious items are described by a moderately high appraising on each of these measurements contrasted with different results of its class. Extravagance brands are those whose proportion of utilitarian utility to cost is low while the proportion of immaterial and situational utility to cost is high.

In the textile industry, there has been a growing concern over the market share (Zeb et al. 2011, p. 225). However, there has been diversity in the industry as brands have always been associated with prices. Therefore, a brand which is sold at a high cost will always receive more sales than the ones sold at low cost. Hence for brands with higher prices, the clients often have a preference for them whatsoever the quality.

Motives behind Luxury brands

To comprehend a women's mind with regards to looking for items is a highly troublesome call to take (Tsai 2005, p. 431). The brain is always changing with different things coming into the picture and in the meantime numerous things getting off the screen. Adding to this is the shopping society that ladies over the globe take after. With regards to shopping, women tend to think that its hard to comprehend the fundamental reason for the same. Luxury has been characterized by scientists as the condition of incredible solace and free-living or an inessential yet beautiful thing. A gathering of individuals surmises that expensive products are constantly great and believable. Although the nature of luxury product is inferior, people still buy because of optimistic. Unique qualities and human qualities impact acquiring goals toward global luxury brands (Wiedmann, Hennigs, and Siebels 2007, p.1). Purchasing to inspire others is an inner individual esteem that drives a rationale in indulgence from brands utilizations. Purchasers get influenced actually by this inner drive to make a real picture in the public eye. There are various variables like ethnocentrism, realism, similarity and vanity which impact buy of extravagance brands.

Materialism It is the conviction about the significance of belonging to life by stressing on the capacity to claim material protests regarding the sort and amount of the bought items (Richin and Dawson 1992, p. 311).

Vanity In this purpose of purchase, behaviour is connected to the physical appearance and the worry of appearance. It is characterized as the unnecessary sympathy toward the perspective of physical appearance. Besides, it is additionally related with the unreasonable sympathy toward the individual accomplishment (Zhan and He 2012, p. 1457). Extravagance utilization is possibly noteworthy to people in scanning for economic wellbeing and portrayal in general public. The higher the status an individual needs to be, the higher visible utilization they uncover.

Conformity It is a kind of social effect related to an adjustment in conduct all together to fit in or to be right at a gathering in the public eye.

Consumer ethnocentrism It is the review on how individuals want to spend resources on local items instead of devouring remote things. It is the object decision with no private option. It is very vital for showcasing directors to get it. It has been clarified that the individual who has elevated amounts of buyer ethnocentrism would have more good states of mind toward items from comparative culture nations in contrast with items from various culture countries (Watsons and Wright 2000, p. 1152).

Objectives Main Objective The paper seeks to study Chinese female consumption behaviour on foreign luxury branded clothing, a case study of Prada.

Specific objectivesTo identity what kind of social media dose Chinese female used normal.To figure out what may affect female consumers to buy luxury products.

To understand whats kind of advertising dose Prada Company transformed in social media.

To find out relationship between IMC (integrate marketing communication) strategy and Chinese female consumption.

CHAPTER 2: LITERATURE REVIEW

Overview

The group of Chinese luxury consumers has reached 13% of the total population, and it is rapidly growing. But because of the difference of eastern and western culture, the Chinese consumers present a different consumption custom compared with the western consumers. Therefore, exploring the deep reason behind this phenomenon and analysing the Chinese consumers' diversified luxury consumption characteristics can yield better analysis of the luxury goods market, especially the Chinese consumers' attitude to the luxury products, so as to formulate recommendations for companies to make strategies in respects of publicity and customer relationship management.

Therefore, this chapter will critically discuss theories of purchase of luxury goods including the definition and development of luxury and luxury goods, motivation of luxury goods purchase, a difference of materialism and status consumption. Moreover, buying behaviour of generation will also be discussed as the reference. An investigation of the customer behaviour of Chinese female towards luxury goods purchase, which focuses on Prada clothing, will also be done. A secondary research, which has been used in the examination of the way the Chinese female perceive and obtain information of Prada clothing, will be presented too. Lastly, there will be a critical analysis of the attitudes and motives of Chinese female towards luxury goods today and shortly.

Theories on motivations to Purchase and Consume Luxury Consumer motivation to consume luxury products are explained by four social psychology theories. These theories are further categorized into two, self-discrepancy and terror management theories, which are self-based while social comparison and symbolic interactionism theories are other-based. The theories are useful in identification of variables for the study.

Self-Discrepancy Theory Self-Discrepancy theory suggests that disagreement within an individual, which are relative to various emotion vulnerability and psychological discomfort drives one to purchase and consume luxury produc...

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