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
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Gucci‘s overall strategy was to vertically integrate to strengthen its overall brand image. After vertically integrating they acquired other luxury retailers to continue to grow horizontally and to increase economies of scope. The economics of the luxury goods industry changed forcing Gucci to modify its strategy. Consumers demand shifted from classic style buyers to style conscious buyers. Gucci not only had to change due to the economics of the industry but they also had several problems with
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Luxury & Design Based Strategies Lecture 1: Introduction‚ Luxury and Design-based industries‚ products and services‚ approaches and specificities Luxury attributes Comes from inspiration Has a strong human component Creates emotions Has a tradition‚ history‚ heritage Quality more than quantity Rare‚ unique‚ exclusive Sophisticated Based on rarity of the offer/ scarcity Multisensory Strong esthetic/ beauty component Finesse of craftsmanship‚ precious materials and ingredients Luxury
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Chinese Culture - The Culture of Shanghai Shanghai University 30.11.2012 Shanghai – Brief Overview Shanghai is an important commercial harbor and the most important industrial town of the People ’s Republic of China. The administrative area has more than 23 million inhabitants. The status of the town corresponds to that of a province; the town is subordinated directly of the central government. Shanghai is an important traffic interchange and an important cultural center and educational
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MEMORIES OF A CHILDHOOD IN SHANGHAI INTRODUCTION I remember it well. It was the morning of July 4th 1946 when a non descript van picked up my grandmother‚ me‚ and our worldly possessions‚ which consisted of two suitcases and a Chinese trunk‚ and took us to board the troop ship USS General Meigs. The ship was to transport us from Shanghai to San Francisco where we were to begin a new life in the “promised land’‚ more commonly known as the US of A. There were lots of tears‚ hugs
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THE 8 P’S OF LUXURY BRANDING – PILLARS OF A LUXURY BRAND Performance: Refers to the delivery of superior experience of a luxury brand at two levels – product level & experiential level. At a product level‚ it must satisfy the functional and utilitarian characteristic as well as deliver on its practical physical attributes – a recipe of quality or design excellence ingredients like creativity‚ exclusivity‚ craftsmanship‚ precision‚ materials‚ high quality & innovation. The luxury brand must perform
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Staten Island‚ NY-based Wu Tang Clan proved to be the most revolutionary rap group of the mid-’90s -- and only partially because of their music. Turning the standard concept of a hip-hop crew inside out‚ the Wu-Tang Clan were assembled as a loose congregation of nine MCs‚ almost as a support group. Instead of releasing one album after another‚ the Clan was designed to overtake the record industry in as profitable a fashion as possible -- the idea was to establish the Wu-Tang as a force with their debut
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COMPREHENSIVE CASES Case 1 Running the Numbers: Does It Pay? (Download the data sets for this case from www.cengage. com/marketing/zikmund or request them from your instructor.) Dr. William Ray‚ a research consultant‚ has received a government grant of $75‚000 to fund research examining how aspects of a student’s college experiences relate to his or her job performance. Senator B. I. G. Shot is being lobbied by his constituents that employers are discriminating against people who do not like
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|Capitalism’’? |domestic businesses from the | | |Vertical relationship |government | Environmental analysis of Shanghai (China) Political and Legal Factors: Government analysis: Taxation Foreign companies that wish to invest in China are responsible for following tax payments: ❖ Income Tax (3%
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High housing prices in Shanghai The topic of my presentation is making analysis into three parts—current situation‚ cause and solution. The first part—current situation. Now‚ many experts still believe that housing prices continue to rise; just because of limited land. The range of rise in housing price exceeds the range of rise in resident income. It makes lots of low and middle-income people worried about their own houses. Housing revenue rate is increasing‚ so real estate plays an important
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