| The main contribution of this paper is the implication of luxury marketing strategies in a complex context as China. Many successful foreign companies failed in China, this paper aims to give insights in the most relevant aspects that need to be considered. An economical analysis of the Chinese luxury market, as well as a cultural approach and suggestions about adaptations are given. The union of both components renders a successful investment in China possible and is indispensable when dealing in such a multifaceted country.The purpose of this dissertation is to propose marketing strategies for the Italian Luxury retailer Moncler for its business expansion in China. In order to do so, I firstly, conducted an analysis of the Chinese Luxury market and its costumers, including components of the Chinese culture, as well as economical factors. The first part of analysis took its point of departure in a market research on the Chinese luxury market and its consumers. In view of the continuous growth of19%from2005to2009the Chinese luxury market is estimated to become the world’s largest. With an increasing number of potential consumers, China became an interesting investment opportunity for many foreign companies. Furthermore, it was important for my marketing concept to understand the Chinese Luxury consumers values and their buying behavior. As people in the Asia Pacific region have a different cultural background and other priorities, it is essential for companies to understand these differences and to adapt to the countries’habits. The thesis shows that notable variations in individuals’interests and usages, such as gift-giving, the concept of face and still deeply rooted social norms and traditional expectations overweigh in Chinese society.1. The empirical research of this paper, aims for a correct vision and verification of previous studies that have been conducted in this purpose. I conducted a qualitative research on various topics, including Luxury attitudes, spending behavior, gift giving, packaging, counterfeit and Moncler’s position in China. After having gotten the results, an evaluation with subsequent interpretation has been made. By analyzing and comparing my results to other scholars’2.3. findings, new and interesting insights about Chinese consumer behavior and cultural assumptions could be drawn. For instance, it was disproved the validity of the thesis, that self gift giving is not very distinctive in Chinese society, in fact63,41%buys luxury mostly for themselves and40%of respondents state their willingness to reward themselves when they achieved something special. The important role of packaging and discounts, as well as on gift giving could be supported, while insights of Moncler’s brand awareness could be given, that is to say that only12,2%know Moncler, while the resting87,8%doesn’t recognize the brand even after showing them the logo. These findings allowed me to develop valid marketing strategies and give useful recommendations for companies that wish to enter or to expand successfully in the Chinese market.4. |
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