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Business Research Methods - Essay Example

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Business Research Methods Abstract Luxury sells online have increasingly become a more important selling point for high-end fashion brands. Brands have to balance their sells and how to maintain their brand identity of exclusivity. Many luxury brands have recently begun selling online towards the emerging markets, as the brand has identified an opportunity…
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Download file to see previous pages The research will have an interpretivist approach as the data collected do not address the subject fully and lack some information regarding luxury sells in emerging markets. The aim of the research will be to recognise these and investigate how the brands conduct their business to attract the target market to be brand loyal. Furthermore, this investigation will have an academic value adding to the limitation in material that is currently available around the subject. Key words Luxury Brands Internet E-commerce Emerging Market China Online Selling The Objective and Purpose of the Project The research will be created around the topic of fashion luxury brands and sale of products online. Currently the literature does not sufficiently address the strategy problem, brands deals with when expanding into other regions (such as emerging markets) online. The objective is therefore to gain an understanding of adaptations that the luxury fashion segment does online when enlarging to these countries. Therefore, there is a need to obtain first hand information in the form of interviews from luxury brands that are expanding towards emerging markets. That will be the feasibility in the dissertation. ...
At first, luxury brands and the Internet do not seem to be a perfect match due to the fact that the internet is a mass communication medium whereas luxury tries to stay within a niche market and does not want to lose its appeal of exclusivity. Recently the internet has deeply changed the anatomy of branding and the overall marketing communications strategy of the fashion industry, from fast moving ones such as M&S and Zara to luxury brands such as Burberry and Hermes (Riley and Lacroix, 2003). Perterson et al argue that the internet is extremely efficient at building a sustainable brand identity and providing a forum giving consumers knowledge about the brand and its products. Additionally it is also necessary to point out that the internet provides a platform to build long lasting relationships with consumers. Traditionally brand management relied upon several media outlets such as TV advertising, print media and product placement on TV and movies. Marketing strategies focused on market research, segmentation and positioning in order to create the perfect marketing mix. (Chaffey, 2000). Riley and Lacroix (2003) focus on the changes that online marketing brought to the marketing strategies of luxury industry. Access to information has become much quicker and consumers have become extremely demanding over the last 2 decades. Luxury brands used to have very stringent control over their brand, with an allure of exclusivity that would not allow “non-members” to enter. With the advent of internet and consequently, social networks, brand management has essentially changed in order to adapt to the new requirements of online marketing and its operational system. It is essential to any luxury company to ...Download file to see next pagesRead More
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