CHANEL case study about the factors influencing consumer behavior to luxury products.docx
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CHANELcasestudyaboutthefactorsinfluencingconsumerbehaviortoluxuryproducts
Topic:
aResearchbasedonCHANELcasestudyaboutthefactorsinfluencingconsumerbehaviortowardsluxuryproducts
1.Introduction:
Therearefactorsaffectingconsumerstochooseluxurygoods(productchoice);therearealsofactorsaffectingconsumerbehaviortowardsluxuryproducts.Thisprojecttargetsthesefactors..
Attitudes,beliefs,intentionsandbehaviorsofconsumersareallthemotivesbehindfactorsthatinfluencethepurchasingbehaviorofconsumers.
Apartfromthat,whatshouldbefoundoutaboutareconsumers’purchasebehaviors.Consumersthemselvesalongwiththefactthatwhytheybuyarecloselyassociatedwiththeconceptsandstrategiesofconsumerbehaviors.Theterm“consumerbehavior”boilsdowntopeople’spurchaseanduseofproductsandservices.Atonetime,oneauthorconcludedconsumers’behaviorsassimply“anexchangeprocessconductedbypeople”.Consumers’behaviorsarerecentlydefinedas“akindofactthatpeoplesearchfor,purchase,useandevaluateproducts,servicesandideas.Andtheseproducts,servicesandideastheyhopewillmeettheirneeds”.Also,theseconddefinitionisreachedas‘peoplemakedecision,takepartinactivitiesandemploymeasuresofallkindswhenevaluating,acquiring,andusingeconomicgoodsandservices.”Inessence,thesedefinitionspointoutthatconsumerbehaviorareassociatedselecting,acquiring,andusingvariousproductsandservices(WilliamsT.G.1983).
Inthispaper,Channel,theluxurybrandispickedasanexampletostudywith.
Itiscommonsensethatmostpeople,inotherwords,ordinaryworkingclasswillnotplacemuchattentionontofancyproductssuchasChannel.Butnormally,luxuryproductsreaphugeprofitmargin.Themoreluxurioustheproductsare,themoremoneytheycouldmake.That’swhymanybusinessmenstillfocusontheseproducts,whichmaybeardifferencecomparedwithmarketforcommonproducts.Itisclearlyunderstandable.Themindsetofpoorpeopleaswellasthatofthegenerapublicaredefinitelydifferentfromthoseoftherichpeople.Manyfactorshaveinfluenceontheirchoices.ViaillustratingthecaseofChannel,thispaperintendstodigintothefactorsdeterminingconsumers’behaviors.
ResearchObjectivesandQuestions
Accordingtothepurposeofthisresearchpaper,twomajorresearchobjectivesandquestionscontributetoinvestigationintoresearchtopic:
ResearchQuestions
ResearchObjectives:
1)Whatcouldpossiblyinfluencetheproductchoice?
Tospecifydetaledfactorsthathaveaninfluenceonconsumer’schoiceofproduct.
2)Whyareluxuryproductssoattractivetoconsumersthattheytemptthemtopurchase?
Assumeandlistthereasonsluxuryproductscanattractconsumerstobuy.
Withthehelpofthisresearch,theabovequestionsinthetableweresettled.
ResearchDesign:
Thegeneralmethodologiestheauthoremploystoconducttheresearchspanfromsurvey,caseanalysisaswellasinterviews.Thesemeasuresaretakentoanalyzethepossiblefactorsdeterminingtheconsumers’behaviorstowardsthepurchaseofluxuryproducts.Allthesecanbefoundontheabove-mentionedliteraturereview.Inregardtomeasures,methods,data,statisticsaswellastechniquesadoptedoverthecourseofourresearchwillbedisplayedinthefollowingparagraphs.
ResearchMethods:
“Asacost-savingway,questionnairesareeasytocollectdataandinformationfromawiderangeofrespondents.Ontopofthat,itisveryoftentheonlywaytogettoquiteanumberofreviewerslargeenoughtoallowstatisticallyanalysisoftheresults.”(Mason,pp.72,1996)Notonlycanthisresearchmethodbeusedtogarnerall-roundedinformation,butalsocanbeusedtosiftthroughinfoonthespecialtopicalongwithcertaintargets.
3.2subjects:
LuxuryproductsincludingthelikesofChanelhavebecomethesubjectwhichwasstudiedduringthesurvey.What’smore,overthecourseofthesurveyaquestionnairetogarnercustomers’viewshasbeenintroduced.Thequestionnaireintotal,surveyed43femaleand17malepersons(seeAppendix2Fig.1).Intheirmidst,20camefromenterprisesandtheyareso-calledwhite-collarworkers.10ofthesubjectswereself-employed.Therewere10ofthepolledworkingforthegovernment.Thelast20respondentsturnedouttobeverycommonpersonswiththecommonjobs.Overthecourse,thequestionnairewasdividedintotwomajorsegments:
personalinformationandattitudestowardsluxuryproducts.Itcoveredbothopenandclosedquestionsinabidtogarnermorecomprehensiveandusefuldataforfurtheranalysis.
3.2Datacollectiontechniques:
DatawascollectedaspartofaresearchprojectandthisactionisconductedbyaShanghaibasedprofessionalagency“TheconsumerbehavioraimingattheproductsofChannel”.Theconsumers’circleforluxurygoodsmostlyconsistsofyoungpeople.Thesurveyemploycertainstepsandmeasurestolimittherespondents’rangeagewhichspannedfrom18to55.Thismeasurehasoncebeensuggestedbyprevioussimilarfocusgroupstudies.60subjectsreceivedquestionnairesinearlyMarch2009withthehelpofmyacquaintances.Selectionwasinaccordancewithrandomsampling.Bythetimeof11April,morethan50questionnairesweresuccessfullycollected.Theresponseratestoodatontheorderof82%.
3.1.6.DataAnalysis
Oncethefieldsurveyisfinished,ensuingistheprocessofdataanalysis.Inthemeantime,relevantanalysisskillsalongwithvariousstepswereintroducedbyMcGivern(2003)todecodethequantitativedata.
1)Understandingdata;
2)Checkingandcleaningdata;
3)Univariatedataanalysis;
4)Sortingoutanduseofbases;
5)Weighting;
6)Inferentialstatisticaltestsetc.(McGivern,2003)
Duringthecourseofanalysis,inuseareplentyofdataanalysismethodswhicharebroughtinbysocialscienceresearch.Ofallanalysismethodsfeatured,themostcommonlyemployedonesturnouttobecorrelationanalysisandregressionanalysis.
Correlationanalysisisaprocesswhichexaminesthelogicalrelationbetweentwovariables.Nevertheless,itdoesnotnecessarilyrequireacausationrelationship.Overthecourseofcorrelationanalysis,thetwovariablesappearsymmetric.Ontheotherhand,regressionanalysisverifiesthecausationrelationshipbetweenanexplainedvariableandseveralexplanatoryvariables.Asastrikingsign,theexplainedvariableandexplanatoryvariablesareasymmetric.Thesetwomethodswerebroadlyandcommonlyusedfordataanalysisthroughoutthisresearch.SPSS,akindofPCsoftware,isspecificallypickedtocarryoutcorrelationandregressionanalysisforthisresearch.
4.1.Sample
Belowarethedemographicsoftherespondentsshownontable1.AsTableshows,theproportionofmalerespondentsfarexceedsthatoffemalerespondentswitharatioof75.2%aswellas24.8%.Mostrespondentsweremarriedatthetimeofthesurvey.Intermsoftheacademiclevels,over57%ofthosepolledheldbachelor’sdegree,while20%ofthosepolledheldahighschooldegreeandthatanestimated7%receivedonlyprimaryschooleducation.Duringthesurvey,executivesalongwithmanagers(thisgroupaccountsfor36.2%)wereboastingthehighestfrequencies.Thisgroupisensuedbythegroupofself-employedinadditiontowhitecollarwitharatioof25.0%and18.1%respectively.Thepolledgroupthatbearsthebiggestproportionturnedouttobetheoneconsistingofthoseagedbetween25and34yearsold.Thegroupmadeupofyoungerpeople(25-year-old)cameinatsecondplacewithapercentagepointof30.8%
Table1
Profileofrespondents(n=82)
CharacteristicPercentageoftotal(%)
Gender
Male75.2
Female24.8
Marital
Married70.8
Single29.2
Age
Youngerthan2530.8
25–3435.7
35-5428.6
Other4.9
Occupation
Executive/manager25.0
Self-employed36.2
Whitecollar18.1
Bluecollar4.1
Retired7.6
Housewife7.0
Student2.1
Educationlevel
Primaryschool3.3
Middleschool4.3
Highschool20.0
Bachelor’sdegree57.7
Master’sdegree13.7
ExpectedFindings
Todrawaconclusion,thefactorsswayingconsumer'sdecisiononthechoiceofluxuryproductsoriginatefrommanyspheres.peoplecanfindthetheorypartgiveabundantguidancefortheresearch,thankstotheresultofthequestionnaireinadditiontothedocumentationreview.Ontopofthat,externalenvironmentfactors,internalenvironmentfactorsaswellasmarketingfactorsareinfluencingconsumer'sbehavior.
Manyfactorscompriseexternalenvironmentfactors.Therearesomeexamplesinthefollowing,culturalfactors(cultureandsub-culture),familyfactors,referencegroups(qualificationandOsculationstyleAttraction)alljointlyhaveeffectsonconsumers’behaviors.Externalenvironmentfactorsincludeeconomiccondition,lifestyle,thesurroundingenvironment,andsoon.Withthehelpofthequestionnairealongwithinvestigationshownonthispaper,thefactisrevealedthatmostofrespondentsassumethosefactorsplayanimportantroleandmakeabigdifferencewhentheyaremakingdecisions.Seemingly,themostsignificantcontributorsappeartobetherevenuestatusoreconomytogetherwithlifestyle.
Moreover,equallysignificantturnsouttobetheinternalenvironmentfactorsthathaveangreateffectonconsumerbehaviors.Internalenvironmentfactorsrefertothosestandingonconsumerself.Forexample,theyincludeculture,education,personality,psychology,etc.Theyalwayshaveapossibleeffectonconsumers’behaviors.Furthermore,theyoftenchangeandthisisdependentontheexternalenvironment.Generallyspeaking,theexternalenvironmentfactorstogetherwithinternalenvironmen