The Problems Existing In The Luxury Goods Market In China And Its Marketing Strategy

Luxury, internationally defined as "a kind of beyond the scope of people to the need of the survival and development, and has unique, scarce and exotic characteristics of consumer goods". The range generally include high-end clothing, jewelry, luxury yachts and private jets, etc. Due to the effect of financial crisis, global consumer demand for luxury goods in a certain degree of decline, however, some appeared luxury consumption growth in emerging markets, such as China, Russia, India, Brazil and so on, especially in China’s luxury consumption growth showed a strong market development space of market in China, people on luxury consumption concept is gradually changing, as regarding as wasteful to buying luxury goods to currently rushing to buy. As of January2013, China accounted for a quarter of the world’s total luxury consumption, thus it can be seen that China is expected to become the world’s largest luxury consumer. Under this development trend, more and more the world luxury goods companies choose to expand rapidly in China,, and trying to grab market share in China. However, China’s luxury market is flooded with foreign luxury, and luxury brand development in China is not perfect enough. This is due to the development of the luxury industry is still in the initial stage, and the market development is not perfect. It is not only needing the joint efforts of the industry and enterprise, but also more needing to jointly promote the government and the whole society.This article is in such a market environment for research. This article mainly regard China’s luxury market as the research object, based on the previous studies, and take a combination of theoretical analysis and case studies to fully realizing the lack of the results of previous studies and research findings. Then take related data as an index to find its own entry point of research research. We read a lot of literature when we doing the research, and learn the points of view from the scholars who is world-renowned in the field of luxury goods research. France Michel Chevalier, the heat Gerald Mazar Lavrov, China’s HuCzech Republic, and so on. Based on the knowledge we heve learnt from Master courses, take the development of the luxury research literature for reference, and combine with consumer behavior to do the analysis. Thus propose comments and advice to improve China’s luxury brand in the domestic market. Through the study of the development of the market and the market potential development space, we give some conclusion. We summed up that China’s luxury market has a good development space, mainly reflected at the rise in consumer demand, more and more consumers would like to choose to buy luxury goods to meet their own consumption, and consumption concept also in mature gradually, not only just as the pure luxury status symbol, but also the pursuit of more intrinsic value. Although the development of China’s luxury market prospect is good, but there are still many problems to need to be solved at present, such as China’s luxury brand awareness is low, Industry are unevenly distributed and the markets are decentralized and so on. In view of the current domestic market, put forward the suitable for China’s luxury brand marketing strategy, in order to develop China’s luxury brand.