Research on Multichannel Marketing of Ostentatious Products Based on Consumption Iteration Theory -- Take Hermes as an Example

Research Article
Open access

Research on Multichannel Marketing of Ostentatious Products Based on Consumption Iteration Theory -- Take Hermes as an Example

Jiawei Fang 1*
  • 1 Hebei University of Economics and Business    
  • *corresponding author 1811000504@mail.sit.edu.cn
Published on 13 September 2023 | https://doi.org/10.54254/2754-1169/24/20230465
AEMPS Vol.24
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-915371-91-1
ISBN (Online): 978-1-915371-92-8

Abstract

The iteration of China's consumer society has stimulated huge potential consumption momentum, and Chinese consumers' consumption focus has shifted from functional product consumption to ostentatious product consumption. With the deepening of economic globalization, international first-tier brands, which have the attribute of showing off, are increasingly entering the daily lives of Chinese consumers. Chinese consumers are regarded as the world's largest luxury consumer group with their strong purchasing power. If international luxury brands want to occupy a larger market share in China, they must conform to the characteristics of the Chinese market and meet the shopping habits of Chinese consumers. Therefore, based on the 4P marketing theory, this article analyzes the marketing background and current situation of the H brand, and conducts a PEST analysis of the H brand. It puts forward feasible suggestions on how to exploit the potential customers' consumption ability and obtain greater market share by taking advantage of the opportunities of sinking market and alternating generations of consumers after entering the Chinese market.

Keywords:

ostentatious products, marketing strategies, PEST analysis, consumption iteration

Fang,J. (2023). Research on Multichannel Marketing of Ostentatious Products Based on Consumption Iteration Theory -- Take Hermes as an Example. Advances in Economics, Management and Political Sciences,24,381-387.
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References

[1]. Sujie Wang, Shanhong Qi.: Consumerism and High Consumption Behavior of Chinese Citizens in Outbound Tourism. Travel Journal 6, 39-44 (2005).

[2]. Zhihu, https://zhuanlan.zhihu.com/p/551064371,2022/8/8.

[3]. Hongmin Zhou.: Analysis of contemporary consumption characteristics and formation reasons. Chinese market journal 25, 44-47 (2013).

[4]. Thorstein Bunde.: The Theory of the Leisure Class-An Economic Study of Institutions. 2nd edn. Wuhan University Press, Wuhan (2014).

[5]. Woodside, A.G., E. Ko.: Luxury Fashion Theory, Culture, and Brand Marketing Strategy. Emerald Group Publishing Limited, London (2013).

[6]. Ger, G. , R. W. Belk.: Cross-cultural differences in materialism. Journal of Economic Psychology 17(1), 55-77(1996).

[7]. Baike.Baidu,https://baike.baidu.com/item/Hermes/4903817?fr=aladdin, last accessed 2022/12/09.

[8]. Zhihu, Looking at History from the Perspective of Consumption Iteration https://zhuanlan.zhihu.com/p/550316404, 2022/8/9.

[9]. Sohu, http://www.sohu.com/a/136748602_ 369526, 2017/11/24.

[10]. Yuan Yue.: Research on Chamel's marketing strategy in China,Shanghai International Studies University (2018).

Cite this article

Fang,J. (2023). Research on Multichannel Marketing of Ostentatious Products Based on Consumption Iteration Theory -- Take Hermes as an Example. Advances in Economics, Management and Political Sciences,24,381-387.

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The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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About volume

Volume title: Proceedings of the 2023 International Conference on Management Research and Economic Development

ISBN：978-1-915371-91-1(Print) / 978-1-915371-92-8(Online)
Editor：Canh Thien Dang, Javier Cifuentes-Faura
Conference website: https://2023.icmred.org/
Conference date: 28 April 2023
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.24
ISSN：2754-1169(Print) / 2754-1177(Online)

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References

[1]. Sujie Wang, Shanhong Qi.: Consumerism and High Consumption Behavior of Chinese Citizens in Outbound Tourism. Travel Journal 6, 39-44 (2005).

[2]. Zhihu, https://zhuanlan.zhihu.com/p/551064371,2022/8/8.

[3]. Hongmin Zhou.: Analysis of contemporary consumption characteristics and formation reasons. Chinese market journal 25, 44-47 (2013).

[4]. Thorstein Bunde.: The Theory of the Leisure Class-An Economic Study of Institutions. 2nd edn. Wuhan University Press, Wuhan (2014).

[5]. Woodside, A.G., E. Ko.: Luxury Fashion Theory, Culture, and Brand Marketing Strategy. Emerald Group Publishing Limited, London (2013).

[6]. Ger, G. , R. W. Belk.: Cross-cultural differences in materialism. Journal of Economic Psychology 17(1), 55-77(1996).

[7]. Baike.Baidu,https://baike.baidu.com/item/Hermes/4903817?fr=aladdin, last accessed 2022/12/09.

[8]. Zhihu, Looking at History from the Perspective of Consumption Iteration https://zhuanlan.zhihu.com/p/550316404, 2022/8/9.

[9]. Sohu, http://www.sohu.com/a/136748602_ 369526, 2017/11/24.

[10]. Yuan Yue.: Research on Chamel's marketing strategy in China,Shanghai International Studies University (2018).

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