StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

The behaviour of the young towards luxury products - Essay Example

Cite this document
Summary
The behaviour of youth towards luxury can be studied and analyzed by gathering the data about the topic from varied places demarcated by boundaries of states or countries as well as the difference of strata of the youth in terms of their financial position.
With the speedy…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER91.6% of users find it useful
The behaviour of the young towards luxury products
Read Text Preview

Extract of sample "The behaviour of the young towards luxury products"

Download file to see previous pages

Since youth coming from rich families can easily afford costly items of luxury, gradually, a competitive attitude grows among people to acquire most famous and acclaimed items like perfumes, watches, goggles etc. Rather than collecting items for showing their economic worth, youth coming from middle class families are more inclined towards obtaining the items which, apart from being serviceable as symbol of status, should be able to pay them back the price paid for them by their proper utilization.

The article (Neelakantan,1999) describing American youth writes “Changing luxury spending patterns like this arent unusual among todays new affluent shoppers who didnt inherit their wealth and didnt necessarily grow up privileged. Many have made their money in technology, through entrepreneurship or because of sheer talent in the sports and entertainment fields. And while this new crowd is probably spending more, it is taking the conspicuous out of consumption--showing less, with more style.

” Edwin Colyer (2005,That’s rich, redefining luxury brands) writes “However you want to define luxury, though, one thing is certain: it is now commonplace and affordable. Disposable income has risen dramatically over the past 30 years and there is more money to spend on "extras." Luxury purchases are for celebrating an occasion, self reward or to show off status.” “According to the Census Bureau, there are currently 25.2 million teens, ages 13-18, in the U.S. Their purchasing power is substantial: If you add part-time job earnings, allowance and the average amount of their parent’s money they spend every year, teens comprise a $195 billion market.

Over a third of teens hold part-time jobs, working 18 hours a week, on average, and earning $483 per month.” The role of spontaneous liking or disliking towards luxury, though not

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The behaviour of the young towards luxury products Essay”, n.d.)
The behaviour of the young towards luxury products Essay. Retrieved from https://studentshare.org/miscellaneous/1540095-the-behaviour-of-the-young-towards-luxury-products
(The Behaviour of the Young towards Luxury Products Essay)
The Behaviour of the Young towards Luxury Products Essay. https://studentshare.org/miscellaneous/1540095-the-behaviour-of-the-young-towards-luxury-products.
“The Behaviour of the Young towards Luxury Products Essay”, n.d. https://studentshare.org/miscellaneous/1540095-the-behaviour-of-the-young-towards-luxury-products.
  • Cited: 1 times

CHECK THESE SAMPLES OF The behaviour of the young towards luxury products

Motivation in Consumers of Thailand to Purchase of Luxury Goods despite Increase in Price

hellip; luxury products are characterised by six major characteristics like symbolism, extraordinariness, rarity, aesthetics, quality and price.... A dramatic shift has been observed in the market of luxury products.... Now the consumption of luxury products is more due to the increased practicality and higher perceived value.... It is also seen that the price of the luxury products are increasing over the time but this is not creating any adverse impact on the demand of the luxury product by decreasing the demand for it....
27 Pages (6750 words) Dissertation

Consumption Patterns among the Young-Old and Old-Old

The report “Consumption Patterns among the young-Old and Old-Old” examines two consumer behavior constructs and two segments.... Ideally, the correlation between the two motivates the consumer market to purchase the brand in question and exhibit loyalty towards it....
11 Pages (2750 words) Assignment

The Behaviour of Young towards Luxury Products

According to Wong and Ahuvia, the performance of luxury exploitation can be described as which brands are to be purchased, and stimuli behind the purchase, along with how the merchandise is brought in to use, and interpretation of the same to the people who use them (Wong and Ahuvia, 1998).... The analyses hold various ramifications for the possible efficaciousness of non-conventional promotion mediums such as, product, placement, etc distinguished with even more conventional systems to persuade consumption behaviour, thereby, establishing brand equity amongst the difficult-to-attain urban market-place as a result of the dissimilarities in attitudes, stimuli, and persuasion (Morris and White, 2002)....
12 Pages (3000 words) Essay

Market Segmentation and Target Marketing

Benefit segmentation is a method that aids in the development of products and services that are of actual benefit to customers, therefore firstly, it is necessary to identify the kind of customers who may be benefited by the Porsche 911 Turbo car.... In effectively marketing a sports car such as the Porsche, which is priced in the luxury car range, it may be necessary to direct marketing efforts towards a cosmopolitan, city area where there would be an adequate number of customers in the high income ranges....
6 Pages (1500 words) Essay

What drives Chinese into Buying Luxury Goods in the 21 century

This paper is a literature review targeted at analyzing the following statement: the economic growth in China has influenced the buying behavior of Chinese consumers, driving them to buy more luxury goods, brought about by an increase in their purchasing power....  … This research is governed by the following objectives: To explain the phenomenal growth and rising power of Chinese economy To describe recent trends in buying behavior of Chinese consumers leading to an all-time high consumption of luxury goods....
8 Pages (2000 words) Essay

Influence of Age and Income on Consumer Behavior in Holiday Market

The processes and activities that people undertake while choosing, purchasing, using and or disposing off products aimed at generating satisfaction explains consumer behavior according to Belch (1997, p.... The study therefore focuses on how particular subcultures (age and income in this case) influence the way consumer(s) reason, think, choose and make decisions on different brands, products or even services in focus to the holiday markets.... Different markets equally exist and they all have particular characteristics, which are directly or indirectly influential towards consumer behavior especially as relating to the subcultures outlined above (Mullins and Walker, 2014, para 1-6)....
6 Pages (1500 words) Essay

Buyer Behaviour & Market Research

The marketers have to find a way of changing the attitudes of the potential customer and convince them that their products are the best.... This paper focuses upon for an organization to succeed in meeting its marketing goals, a lot of resources and energy have to be invested on research about the consumers so as to predict the likelihood of their behavior towards a particular product or brand.... Consumers can express displeasure or detest a product is they have a negative attitude towards it....
8 Pages (2000 words) Essay

Luxury Marketing. Chanel case

One of the first contrasts between the luxury products section and different portions is the way that the previous does not utilize the conventional marketing strategies to speak to its consumers.... As far as this current, Chanel's luxury brand picture in consumer minds exceedingly takes up with its center products, premium evaluating procedure, quality and feel (Chanel, 2013).... Because of the reality, it is still one of only a valuable few luxury brands that don't offer its products on the media, which, despite, does not change its performance, as it remains the best promoter in this portion....
11 Pages (2750 words) Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us