Research On The Luxury Marketing Strategy In China Based On Segmenting Of The Consumers

This article selects the luxury marketing as the research direction, and the paper has a discussion on marketing strategy in terms of different luxury consumption groups in China. Along with China's rapid economic development and continuous improvement of living standards of citizens, luxury has entered China's market for ten years. Now, China has become the world's fastest-growing luxury country. According to statistics of Gaosheng Company, luxury consumption in China is expected to exceed $11.5 billion by 2015 to become the world's largest luxury consumer, surpassing Japan. However, the luxury market in China is still developing, compared to more mature Western Europe and the U.S. luxury market. Luxury consumers in China have characteristics of Chinese psychology and behavior, so foreign luxury cannot fully applicable to the Chinese market. So the paper focuses on the research how to marketing to adapt to China's luxury consumers and luxury market. At present, Chinese and foreign scholars and research institutions for the study of China's luxury consumption mentality focus on luxury goods, consumer motivation, consumption structure, content, and not for the different characteristics of the consumers targeted research. The paper makes a depth study of China's luxury consumer market, luxury consumer psychology and consumer motivation by literature review method, website data contrast method and comprehensive analysis method on the summary of existing research. The target market will be divided into three groups, the rich, the middle-class and those born in 1980s in line with the characteristics of China's consumers. In addition, it also puts forward different marketing strategies in accordance with consumer psychology and consumption motivation. This paper has five chapters. The first chapter describes research background, definition, methods and content of China's luxury marketing, summarizes the status of China's luxury consumption market, home and foreign research results and limitations, proposes the idea that China's luxury consumption market should be divided into three segmentations and makes relevant marketing strategies in line with their respective characteristics. The second chapter introduces the concept and features of luxury, as well as the status and future trends of China's luxury consumption. The core of the paper, the third chapter analyzes China's luxury consumption groups and consumer behaviors, and segments China's luxury consumers based on current research results, and gives an in-depth analysis of all segmentations. The fourth chapter is the key, which respectively makes the marketing strategies for the three consumption markets. The fifth chapter further demonstrates the opinion in the paper by analysis of marketing case of a luxury company, Aqounsenton; and lastly, it makes a summary and presents further research directions.