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For example, such high-end customers "may not want to shop regular hours." They may want the purveyer of the good to bring the items to them. For such customers, it's all about the retailing "experience." The research conducted by Unity Marketing indicated that the positive nature of the 'experience' of buying was far more an indicator of return trade than the actual satisfaction of the product itself. (Tarateta, 2004)
Describe the method(s) used to conduct the research project
Both statistical and descriptive research was used over the course of this examination of luxury buying behavior. (Ryerson, 2005) Statistical research was used to determine the overall profile of the luxury market, such as the composition of the most loyal return customers. Research was also used to determine the advantage of soliciting certain luxury market segments for business owners in a quantitative fashion. However, descriptive and subjective data was also deployed to gather a more holistic profile of the customer in question. Also, individuals involved in the luxury industry were interviewed,...
For example, one dealer noted, that the "main thing is to establish chemistry between these clients and yourself. It must seem like a friendship, rather than a trandaction. Sending a personal note if they do not return the phone call can create a rapport. "The perception is that these types of customers are unapproachable. But the reverse holds true. They are amenable and approachable." (Tareteta, 2004) by collecting such subjective data, the focus of the reseaerch becomes potentially translatable into forumlating marketing agenda rather than merely a record of high-end consumer behavior.
Works Cited
Tarateta, Maria. (Mar 2004) "Art buyers respond to the luxury experience." Art Business News. Retrieved on Find Articles on 25 Aug 2005 at http://www.findarticles.com/p/articles/mi_m0HMU/is_3_31/ai_114473982
Ryerson, C. (2005) "Descriptive Research." Research Processes. Retrieved 23 Aug at 2005 at http://www.ryerson.ca/~mjoppe/ResearchProcess/DescriptiveResearch.htm
Works Cited
Tarateta, Maria. (Mar 2004) "Art buyers respond to the luxury experience." Art Business News. Retrieved on Find Articles on 25 Aug 2005 at http://www.findarticles.com/p/articles/mi_m0HMU/is_3_31/ai_114473982
Ryerson, C. (2005) "Descriptive Research." Research Processes. Retrieved 23 Aug at 2005 at http://www.ryerson.ca/~mjoppe/ResearchProcess/DescriptiveResearch.htm
Today's consumers act more en masse rather than as individuals, and so, marketing must show them why the "must" have the newest trendy items, or why they have to continue to need those items. Consumers still have personal choices, but they tend to shop for what is "hot" right now and making an item or service hot is what marketing is becoming. Today, people value things not for what
If just about anyone but the poorest people in America can afford what once were considered luxuries, what is there left to aspire to or hope for? The author's concept of wealth states that people acquire desirable objects to illustrate their superiority over those who cannot afford them, and their meshing with the wealthy and powerful who can. So, many luxuries are acquired as status symbols that say, "look
He also asserts that government participation in the arts beyond its role as a consumer can pose significant hindrances to the artistic processes. He claims that politics tends to "seek stability, compromise, and consensus," and as a result avoids supporting art that may "offend majority opinion or go over its head" (38). The market, on the other hand, has "liberated artists…from the potential tyranny of mainstream market taste" (23). Is
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Figure 1 Brand Identity Levers Source: Saviolio, 2006 Brand identity levers include those as follows: (1) stylistic identity; and (2) Visual Identity. (Saviolio, 2006) III. Methodology The methodology employed in this study is qualitative in nature and in the form of a literature review conducted through a thorough research in this area of study via the World Wide Web and specifically the literature found in books or journals. IV. Value of Research The research reported herein this document