Marketing of luxury brand-VERSACE Dissertation Example | Topics and Well Written Essays - 7000 words

Marketing of luxury brand-VERSACE - Dissertation ExampleLuxury products have currently frame reasonably priced to more than customers, especially for youth and hence, luxury brands have the probability to grow and establish their write up globally (Semenik, 2001, p. 39). During the early part of 1990s, a number of luxury brands began to initiate their brands in China. The major sustain for it is China being the worlds leading market. The Chinese market signifies a extensive people and sturdy financial development. More significantly, Chinese customers - including students - have become more affluent than ever before, they argon more accommodating towards western style traditions and they have a strong aspiration toward luxury products. In 2010, a study revealed that more than 15 million of existing and potential luxury brand customers atomic number 18 Chinese (Zarrella, 2009, p. 77). The combination of synchronizing the marketing communications across all medias together with the social media, the huge impact that social has for both individuals as well as businesses, the pace at which things progress in spite of appearance this field, and the comparative insufficiency of existing research regarding this field all are the bases for this study (Vivian & Anspaugh, 2000, p. 12). With reference to the banter above, this study will also explain how companies can benefit from in social media in ontogenesis marketing messages to attract young customers including students. Figure 1 Growth of Internet Users from 1995 to 2010 (Malacrida, 2011, p. 122) During the past fifteen years, a huge amount of individuals have been able to access the Internet as a way to correspond, range and collect data regarding pertinent issues and Versace gets the maximum benefit from this situation by modifying its marketing communication strategy. As soon as Versace started to recognize the transformation and saw the potentials of the Internet, it created new approaches to portray i tself and speak to consumers via the online segment. Most of the companies started to take static websites during the early phase, which became more high-voltage after the implementation of Web 2.0 in the early twenty-first century. With the implementation of Web 2.0 companies were not only able to present themselves, but also the establishment of bipartizan communication channels on the websites was technically possible (Duncan & Moriarty, 2005, p. 11). This helped almost all luxury brands, including Versace, to respond more capably to the requirements and needs of customers. With the development of Web 2.0 the so-far-inactive student was now capable of becoming a dynamic and processing user. The factor of consumers now being competent to develop, amend and remark on web existent became commonly known as user generated content. The currently visible results of this content are blogs, YouTube, Facebook and other different platforms where users can correspond or share content wi th one another. Once businesses offering luxury brands established how excited users were