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An investigation into Chinese consumers' reasons for purchasing luxury brands in the UK
Pages 12 (3012 words)
An investigation into Chinese consumers’ reasons for purchasing luxury brands in the UK Chapter Two: Literature Review Overview This literature review discuses the purchasing habits of luxury brands by Chinese consumers residing in United Kingdom. Chinese represent a significant portion of the British population.
In spite of having such a strong presence and considerable purchasing power, this ethnic minority has not been studied as much as it deserves. Through this research we should be able to establish: Impact of Western Values on Chinese Traditions. The reasons and perception behind making such purchasing decisions. Chinese perception of brands and role a brand name plays Brand Image Journey towards brand management starts with the development of brand identity and concept and determining the way the public should perceive the brand by communicating a distinct brand image and personality (Okonkwo, 2007). According to Scholz (2012), luxury brands focus on the top two tiers of the Maslow’s hierarchy of needs pyramid: Self-esteem and self-actualization. A luxury brand as opposed to a mass brand has fewer versions and products so that the brand can retain its superiority and uniqueness (Fich, 2011). Furthermore, in most cases the luxury brands are manufactured by hand or have a certain element of customization, making it one-of-a-kind product. However, on key feature of luxury brand is the fact that they are always very high-priced and are not affordable by the masses (Schloz, 2012). ...
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