Impulsive buying in luxury consumption among Chinese consumers ( table of contents ) - Dissertation Example

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Consumer Buying Behaviour – impulsive buying in luxury consumption among Chinese consumers ABSTRACT Consumer buying behaviour has been of interest to marketers because of the fast-paced changes observed in consumer needs, preferences and lifestyle. Various internal and external factors influence consumer purchase decisions…
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Impulsive buying in luxury consumption among Chinese consumers ( table of contents )
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Download file to see previous pages The number of affluent households (whose annual income exceed RMB 250,000) in China is expected to reach 4.4 million by 2015. With the growing affluence in China and the demand for luxury brands on the rise, marketers need to evaluate the needs and wants of the luxury consumers. Thus, with the aim to evaluate impulsive consumer buying behaviour in the luxury segment in China, three objectives were stated and all the three objectives have been met. The study finds that consumer buying behaviour is influenced by the internal and external factors. The thought process and emotions behind consumer decisions, the environmental variables, the motivations, the individual differences and personal factors influence the purchasing decisions. The Chinese consumers associate luxury goods and consumption with culture and history, although some did associate luxury with price. Most Chinese consumers demonstrate Veblen, Snob and the Bandwagon effect, while some do lay emphasis on their own thoughts and feelings (hedonists). The Chinese consumers do attach importance to price but not too much significance to the CoO (Country-of-Origin) possibly because they follow what the others do. Culture influences the psychological factors in the luxury segment. The psychological factors include perception, attitudes, and motives towards luxury consumption. Chinese society is a collectivist society where conforming to the societal norms comes naturally to people. The growing affluence has enhanced the trend towards luxury consumption. The Chinese consumers find luxury brands deliver psychological values as it enhances their self-esteem and self-confidence. Since the Chinese consumers are affluent, status-seeking behaviour was found to influence luxury consumption. Such consumption satisfies their inner drives and gives them self-fulfillment. The Chinese consumers demonstrate impulsive buying behaviour in luxury consumption. Self-esteem and enhancing social status appear to be the strongest motivators in impulse purchase of luxury goods. Because of the impulsive tendencies they may become compulsive buyers as well. The study concludes that the consumerism has changed the way people consume. The definition of luxury too needs to be redefined as it is no more the prerogative of a few. As affluence has grown consumerism and materialism has grown which in turn has changed buying behaviour. The motives, attitudes and perceptions have undergone change and this change is ongoing. Consumers are becoming impulsive in their buying behaviour and this is predominant even in luxury consumption. The task for marketers is complex in trying to segment, target and position luxury brands. However, since impulsive buying does exist in luxury consumption, promotions can be designed to stimulate impulsive buying. The study concluded by suggesting area for further research on the subject. Table of Contents Chapter One: Introduction 1.1 Background 1 1.2 Rationale for research 2 1.3 Research Aims and Objectives 3 1.4 Structure of the Study 4 Chapter Two: Literature review 2.1 Chapter Overview 5 2.2 Consumer buying behaviour 5 2.3 Stages of consumer buying behaviour 9 2.4 Types of consumer buying behaviour 11 2.5 Factors affecting consumer buying behaviour 15 2.6 Luxury buying behaviour 18 Chapter Three: Methodology 3.1 Research Philosophy 22 3.2 Purpose of the research and phenomena 22 3.3 Epistemology 22 3.4 Research strategy 24 3.5 Data ...Download file to see next pagesRead More
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