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Über dieses Buch

This book provides an analysis of the luxury industry in two of the world’s biggest and evolving markets, and identifies and discusses the key issues and dynamics in transforming their luxury landscapes. By discussing the elements that are most likely to dominate boardroom agendas, the pragmatic implications for both strategic and marketing planning are made clear. Special emphasis is placed upon well-contemplated responses to luxury brand marketing challenges that executives are likely to face as they push their brands to adapt and thrive in these shifting markets.

Inhaltsverzeichnis

Frontmatter

1. A New Reality

The chapter provides a background context of the luxury markets in China and India. China and India are at crossroads and are both entering a new era of development with significant implications for both strategic and tactical marketing planning. This chapter examines the opportunities and challenges that describe the predicament facing international luxury brands in both China and India.
Glyn Atwal, Douglas Bryson

2. Luxury Dilemmas

This chapter sets out to identify the key dynamics that are transforming the luxury landscapes of China and India. It is these dynamics that present new dilemmas in these ‘new normal’ market environments. For example, international luxury brands in India and China face the dilemmas of accessing new consumers, capitalizing on new distribution and communication channels, while at the same time maintaining the overall exclusivity of the brand itself. The chapter provides a rich body of discussion and debate that recognizes that the fine line between success and failure will be very much dependent on an accurate assessment of opportunities and risks.
Glyn Atwal, Douglas Bryson

3. The Aspirational Rich

The objective of this chapter is to decode the ‘Aspirational Rich’ in China and India in order to understand which aspirations consumers might trade-off for more salient ones. The chapter provides a detailed profile of two broad consumer groups that are driven by either the aspiration to create or to recreate social boundaries. This, in turn, will also determine which tactics and strategies international luxury brands should consider in order to take advantage of a new and growing mass luxury market segment.
Glyn Atwal, Douglas Bryson

4. The Super-Rich

This chapter examines the very affluent in China and India in order to profile this demographic segment and identify the often unconscious relationships these consumers have with luxury goods and services. It is from the insights developed in this chapter that international luxury marketers will be enabled to deliver competitive brand propositions at the very top of the wealth pyramid.
Glyn Atwal, Douglas Bryson

5. Faking Luxury

This chapter sets out to identify and understand stereotypical profiles of Chinese and Indian counterfeit shoppers and inspect their motivations to purchase counterfeit luxury brands. We develop the profiles of four key counterfeit consumer segment types that knowingly purchase luxury fakes, and assess a body of rich insights in order to uncover a paradigm of counterfeit consumer behaviour. The chapter proceeds to identify strategies and tactics that luxury brand managers need to consider in combating and pre-empting the adoption of counterfeit luxury brands.
Glyn Atwal, Douglas Bryson

6. Giving Luxury

The traditions and rituals of gift-giving is a strong, if underestimated, feature of purchasing behaviour in Asia. This chapter provides an overview of the evolving gift-giving culture with a focus of weddings in India and the ritual of gift-giving consistent with ‘guanxi’ in China. Recommendations are outlined on how international luxury brands can leverage the wedding market in India and adapt to gift-giving in China’s changing social environment.
Glyn Atwal, Douglas Bryson

7. Digitally Rich

International luxury brands have recognized, although belatedly, the significance of developing a luxury digital strategy. Country-specific factors, however, remain a critical determinant regarding how luxury brands can leverage the digital marketing opportunity. This chapter raises the question: ‘how can international luxury brands develop digital capabilities in order to gain a digital competitive advantage in China and India?’ Evidence suggests that many international luxury brands are underperforming and there is significant scope for improvement. This chapter discusses the opportunities.
Glyn Atwal, Douglas Bryson

8. Responsible Luxury

Do consumers really care if luxury brands are deemed as acting irresponsibly? This chapter sets out to assess to what extent brand reputation is a value proposition in China and India, and what international luxury brands need to consider in order to ensure that they do not become a victim of reputational failure. The chapter outlines four cases specific to China and India (Montblanc, Christian Dior, Shiseido and Lancôme) that provide an overview of how negative reactions can lead to a shift in consumer attitudes and buying behaviour.
Glyn Atwal, Douglas Bryson

9. Learning from Mistakes

The objective of this chapter is to take a different perspective by examining selected brand failures in China and India. We outline the market failures of Paul Smith, Neiman Marcus and Asos in China. For India, we investigate the market failures of La Perla, Bulgari, Dunhill and Maserati. As a result, the chapter identifies valuable lessons from these market failures which will serve to supplement overall brand intelligence for marketers who are striving to unlock the potential of these two markets.
Glyn Atwal, Douglas Bryson

10. A Luxury Footprint

The rapid expansion of the burgeoning middle classes has transformed the dynamics of Chinese and Indian consumer society. It has also been declared that despite an increasingly challenging environment, China and India remain strategically important retail investment destinations for international luxury brands. The objective of this chapter is to identify factors within a broad strategic framework that will guide international luxury brands to develop a brand footprint in China and India. If luxury brands operating in China and India are to realize their true potential, luxury brand executives will need to ensure that a coherent and robust strategy has the flexibility to create long-term market success.
Glyn Atwal, Douglas Bryson

Backmatter

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