Research On The Marketing Development Strategy Of China's Luxury Industry

With rapid economy development, a large number of affluent classes have been emerging in China; they pursue high quality life and their demand of luxuries keep on increasing gradually. At the nadir of occident luxuries market, a variety of luxury brands pumped into china. Confronting the strong shock of international giant, only to enrich themselves and to learn from the occident luxury enterprises, could the Chinese native luxury enterprises which are on their early stage win in international luxury market.The occident countries have a long history of study on luxury brand management other than China, and they own a lot of classic books in this filed. However, the current luxury research in China is limited to the consuming motivation and marketing strategies. Both domestic and abroad, there are only a few articles to analyze the development strategy of China's luxury industry at the viewpoint of the whole luxury industry, though most take brand management and marketing strategies as a breakthrough point, the analysis of which are not comprehensive. The viewpoint of this paper is not strictly profound; however, through hard working to collect all kinds of data, hoping to study deeply into the development strategy of China's luxury industry from the whole luxury industry development point of view.This paper analyzes the present situation of China's luxury industry via a variety of data and cases, and find the features of China's luxury industry are as follows:rapid scale expansion; prosperous industry trade; fierce competition; low domestic brand recognition; widespread adoption of OEM model; imbalance distribution of industry; the whole industry appear a pattern of 'loose, mess, small' A series of analysis has been made to the industrial development conditions through 'diamond model', from production and demand factors, related industry, horizontal competition, the government and opportunity etc., and then summarize the positive factors and restrictions on the development of our domestic luxury industry. The strategic objective system of our domestic luxury industry development has been made after detailed analysis, including three aspects:strategic guideline, strategic target, and strategic thinking. Finally, this paper takes systemic demonstration as how to achieve the goal on strategic actions, mainly from three aspects of the government, enterprises, and public, hoping to find out a suitable developing way for our domestic luxury industry.At the end of this paper, a brief explanation has been given for the conclusion and the further research orientation. First of all, in order to build a large number of international influential luxury brands, our domestic luxury industry should lay stress on talents cultivation, technology innovation and brands promotion, so as to improve the quality and attraction of the products. On the other hand, our domestic luxury industry should develop on the orientation of collectivize, as scale expansion will take advantage of scale economy, and play a strong core of leading role, promoting the sales and market share to increase of the whole group. In this process, the government support is an indispensible key factor, because government can not only guide the development of our domestic luxury industry from the aspect of market and industrial structure by adjusting luxury taxes, but also lead the establishment of luxury industry association, which would propel the development of our domestic luxury industry more effectively and systematically.