Proposed research direction

Write a 2 page essay on Proposed research direction.The consumer demand in the luxury market exhibits inelastic behavior and classical marketing approaches are inefficient towards these consumers.The article also makes great references to other effects observed only in the luxury markets that can be exploited in parallel with the snob effect. Depending on the product and its target audience one can select the strongest marketing effect out of five presented components: Veblen effect, bandwagon effect, hedonic effect, perfectionist effect and snob effect. A combination of all the effects might be an overkill for our research, but presents a good overview of how deep one can go in order to properly design a marketing strategy in the luxury segment. Even if sale volumes are miniscule compared to large retail discounters the profit margins are much larger, which presents a unique business opportunity. However, large profit margins require a carefully selected and thought-out marketing strategy, which should take into account the psychological profile of the future consumer.2. Task?n Dirsehana, Meltem Celikb, (2011), Profiling online consumers according to their experiences with a special focus on social dimension. Procedia Social and Behavioral Sciences 24 (2011) 401–412Authors present a new marketing tool that helps to identify your target customer audience with the help of modern technologies. It studies the behavior of online consumers and classifies them in seven categories: “individual hedonists, highly socials, holistic consumers, action-oriented consumers, knowledge seekers, sense-directed consumers and social utilitarian consumers”. Once a marketing department has an exact profile of consumers to target it becomes easier and more cost effective to come up, for example, with an advertising campaign. In the present days online shopping and online presence is a must for any

We help you get better grades, improve your productivity and get more fun out of college!!

Get 25% Discount on Your First Order

Day(s)

:

Hour(s)

:

Minute(s)

:

Second(s)

How it works – it’s easy

Y

Place your Order

Submit your requirements through our small easy order form. Be sure to include and attach any relevant materials.

Make a payment

The total price of your order is based on number of pages, academic level and deadline.

i

Writing process

We assign the assignment to the most qualified tutor. When the tutor completes the assignment, it is transferred to one of our professional editors to make sure that the assignment meets all of your requirements.

Once complete, we’ll send your assignment via the email provided on the order form.

 

 

Achieve academic success with the best online tutors.