edf40wrjww2CF_PaperMaster:Desc
Date: 15/10/08
Title: Luxury marketing in India:” because I worth it”
Page:3
Brief Summary:
This study analyzed the luxury market in India into different perspective. First it defined which factors drive the growth of luxury market from economics and social changing aspects. Secondly this study finding shows us the consumption patterns and consumers’ behavior and lifestyle in India. Furthermore, this article also identifies the key motivational factors of luxury consumption and discussed the concept of “Indian luxury”. At the end of this study, seven guidelines set out to guide high-end brands to lead India’s growth market have been concluded.
Most important point in article:
¦ The number of high-net-worth individuals increased by 20.5% in 2006.
¦ Main stream media are taking a greater interest in luxury brands, fashion trends and consumer lifestyles.
¦ “Because I worth it” and personal performance are important factors that trade up to meet their current aspirations.
¦ The perception of luxury is not just quality and performance, but with comfort, beauty, pleasure and style.
¦ Consumers are increasingly seeking a holistic experience that is personal and unique: such like to define identities and express values.
Implications for International Consumer Behaviour:
Based on the significant growth in economy, number of affluence group and consumption changing patterns in India, those factors represent a great opportunity to global players in the luxury market. This study indicates some important meanings as following:
¦ For many international luxury goods companies, develop market in India is good opportunities and this trend w ...