China has about 1.3million HNW individuals making it one of the most attractive wealth management markets and thus the high street fashion brands expand to China to make profits (BBC News, 2012). Sale of goods in china is exploding despite of tax importing the Chinese market. Online consumption of western product by the Chinese consumers by 11% in the next five years or so and sales of the brands will grow by twice by about 25% a year. China is the largest consumer of Louis Vuitton and accounts for about 15% of global sales (The Economist, 2011). The Chinese market have proved to be an important market for most of the western brands as the top five most recognised brands in China are imported overseas. In the Chinese market the top brands which have successfully made are Nestle S.A, Chanel, Samsung Group, Apple Inc, Sony Corp, Nike Inc, Starbucks Corp, Canon Inc and other brands. With other western and luxury brand such as Armani, Louis Vuitton and Gucci were also reported to show high in rating among the western brands. Thus it was analysed and stated that China prefers foreign brands (China.org, 2012). The continued rise of consumers in China and rising demand for western brands has proved to be helpful for the luxury sector. The Chinese market is expected to become the leader in consumption of luxury brands by the end of 2014 and contributing about 40% of growth in the next 10 years overtaking Americans and the Japanese. China is predicted to have consumers who will be able to afford luxury brands and products (Smither, 2012). Americans fast food companies such as KFC, Mc Donald’s, Dunkin Donuts have succeeded in China and it is mainly because of the brand image possessed by them of being trustworthy and healthy. According to China market research group, the consumers view these brands as healthy as the Chinese fears tainted ingredients as compared to fats. Thus it quite clear that the way the consumers based in China tends to view the brands is different from how the brands are perceived in other countries. Thus the success depends on localising the brand. One such example is of Renault, which localised it product in order to appeal to the young professionals in China. The new initiative is to become part of larger trends of retailers who are offering localised services, special products to the Chinese consumers and access the lucrative market (Train, 2011). However there have been incidents when brands have not succeeded in creating brand image for the Chinese consumers. The main reason why brands tend to fail in China is they do not adapt to the concept of localisation of the product. Groupon which happened to close 13 of its stores in China is the latest example of western internet company to fail in Chinese market. The company failed mainly because of local understanding of the consumers, arrogance, management structure were the factors lead to failure of Groupon in China. These are the four main reasons for failure of Groopons. Arrogance Groupon used to pay highest salary based on market standard and atract5ed the top employees of its competitors. The company also assumed that this
Analysing the impact of Confucianism on customer behaviour and perception of western brands Contents 1. Literature review 4 1.1. Introduction 4 2.1 Confucianism 7 2.1.1 Confucianism Meaning 7 2.1.2 Chinese culture and Confucianism 8 2.1.3 Neo- Confucianism 10 3.1 Consumer behaviour 10 3.1.1 Consumer behaviour and Chinese culture 10 4.1 Branding 11 4.2 Customer based Brand Equity Pyramid 12 4.2.1 Brand Salience 13 4.2.2 Brand Performance and Brand Imagery 13 4.2.3 Consumer Judgements and Consumer Feelings 14 4.2.4 Consumer Brand Resonance 15 5…
The objective of the study is determination of the relationship existing between the behavior and attitudes of the customers and post M&A brands performance within this automotive industry. This part shall also examine how the international M&A influences opinion of the customers as well as look into the importance of customers’ opinion on manufacturers of cars and their strategy of M&A.
Research findings conclude that high quality conscious buyers will always opt for best quality commodities. Consumers are said to purchase products which are heavily advertised, of popular brands and only shop at the selected shops or stalls. These individuals are said to have the perception that the price of a product is directly proportional to its quality, thus the higher the price the better quality.
The objective of this paper is to analyse the impact of service recovery on customer satisfaction, loyalty and word-of-mouth. One of the most important criteria for the success of a hotel is the service quality it offers. Although, the reasons for the first visit by a customer are out of control of the hotel management, the hotel management has the ability to make that stay a comfortable and satisfactory one.
Convenience and the appeal of brand names are combined forces that attract customers to these huge retail stores offering a wide assortment of goods and products. Brand building exercise is one of the most important marketing innovations which have changed the way conventional marketing was done.
This following research is meant to largely focus on some major outlets of organizational behavior like leadership, learning and change, creativity, models which organizations operate out of, and ways by which management can perceive and respect cultural diversity in an order to promote motivation in the employees.
These changes have made consumers in China become increasingly wealthy. The disposable income of urban households has grown steadily from 2004 to 2007 (PRC 2011). This domestic has a lot of potential, which in turn has attracted the interest of local and foreign corporations.
Service provided to the customer gets assessed with the aim of improving service and ensuring customer satisfaction. There is a strong relationship between service quality and the behavior of customers in the retail banking sector. Service quality can get measured by identifying the between customers expectations and perceptions of the performance of service.
The Chinese are the fourth largest minority group residing in Britain following Indians, Pakistanis and Black Caribbean (Bailey et al., 1994). Furthermore, China also has the fourth largest consumer base of affluent households in the world (He, Zou & Jin, 2010), these need to be considered as well because of their ability to travel to and invest in education in UK.
Consumer behavior influences the stages of evaluation, acquiring, using and disposing of goods and services. Consumers can be individuals and families or business, industrial and organizational consumers. Consumer behavior explains the reasons and logic
This research study will seek to contribute towards improved comprehension of various aspects of perceptions and behavior of female cosmetic consumers. The study is important in the delineation of new and emergent trends in the UK cosmetics industry. As
3 pages (750 words)Literature review
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