Description
The rise of the East - In today`s challenging economy and ultra-competitive marketplace luxury brands is a whole new ball-game altogether whereby luxury goods industry is both intriguing and highly influential. The overall environment is changing at a fast-pace and each area has developed its own uniqueness. Luxury brand that are expanding aggressively are not just penetrating the first-tier cities but have also set up networks/shops in the second and third-tier cities and these numbers are increasing at an alarm rate. However, the luxury goods industry continues to face multiple challenges particularly in the implementation of advanced modern business practices. Many luxury brands, especially those who want to enter the Chinese market, are confused with which are the appropriate marketing and operation strategies that will meet this large and scattered country.
As far as China is concerned, given the rapidly accelerating affluence of the masses, the scenario is set to witness a boom. As a trade sector, its skilfully crafted products and services continuously shape the consumer society in the quest for an enhanced lifestyle. As an economic force, the sector s impact and contribution to global trade remains positively noteworthy.
The time has come where the differentiating factors are your brand and your marketing strategies. The trend of an ever increasing technological, mobile and online target market means new and creative ways of improving your marketing activities must be explored. A lot can be done to build brand equity. But how do you sustain it? How do you leverage it to garner new marketing opportunities over time and ensure the highest possible return on your investments?
