DUE DATE: 5/27/2017 AT 8PM

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Segmenting the Chinese Luxury Goods Market

Please read the case study in full this is just an overview of the case.

Overview: Global marketers are flocking to China, attracted by a population of more than 1.3 billion people. In addition to a rapidly growing middle class, China is home to increasing numbers of millionaires and billionaires. Thanks to the rising aspirations and purchasing power of these groups, Chinese consumers as a whole buy more luxury goods than any other nationality. Global marketers are fueling corporate growth by targeting China’s economic elite, when they do they discover that a “one-size-fits-all” strategy will not work. Several distinct segments can be discerned among China’s richest “1 percent.” These include the super-elite, the newly rich, and high-level government officials.

Questions:

1.    Why are Chinese consumers so interested in luxury products?

2.    Which are the various segments of Chinese luxury consumers and customers profiled in the case? Which of them is more profitable for luxury businesses?

3.    How are luxury companies dealing with corruption in China?

4.    Using different sources of information and your textbook, identify other foreign markets where the demand for luxury goods is also high. What motivations do these consumers compared to their Chinese counterparts? What are the cultural similarities or differences?

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Status NEW Posted 16 Jul 2017 01:07 PM My Price 10.00

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