Fred Bronner and Robert de Hoog, International Journal of Market Research, Vol. 61, No. 4, 2019, pp. 430-446
Consumer behavior recently underwent three main developments: a shift from material purchases to immaterial experiences, a shift from signaling status and wealth by means of consumer behavior to signaling identity, and increased social visibility due to the growing importance of social media.
Gamification is a well-accepted essential of marketing to Chinese millennials, but this is no longer restricted to the online environment, as a visit to the gaming arcades in the nation’s malls will attest.
It is estimated that millennials account for two-thirds of all luxury spending in China and, in a development that will concern global brands, there are signs that these younger consumers are increasingly open to homegrown alternatives.
Online luxury sales are forecast to grow significantly in Australia, a market where brands have up to now been focused on building a physical presence, thanks in part to the emergence of a younger buyer demographic.
Brian Carruthers, Event Reports, MRS Luxury Research Conference, September 2018
British Land, the property developers, wanted to shift focus from office space to mixed-use residential buildings targeting Ultra High Net Worth Individuals – and understand what they wanted in a super prime property.
This article offers an overview of how marketing drives business performance by explaining the theories of buyer behaviour, the ways that marketing can influence that behaviour and how advertising works.
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