Global Marketing Strategies
This process involves evaluating customer segments and focusing efforts on the most profitable ones.
Targeting
his ancient practice, deeply embedded in Chinese culture, often involves giving luxury gifts to build relationships or gain favor.
Gift Giving
A popular destination for Chinese tourists on luxury shopping trips.
Paris
This French fashion house is known for its iconic leather handbags, particularly the Birkin and Kelly bags.
Hermes
This ancient trade route connected China with Europe and the Middle East, facilitating the exchange of goods like silk, spices, and tea.
Silk Road
This strategy helps differentiate a product or brand in the minds of target customers.
Positioning
This Chinese term, meaning "coal boss," refers to wealthy individuals who made their fortune by exploiting local natural resources, particularly coal.
Mei Laoban
These brands are preferred by government officials due to their affordability and accessibility.
Accessible Luxury Brands
The world's largest luxury goods conglomerate, this company owns brands like Louis Vuitton, Dior, and Moët & Chandon
LVMH
This is the capital city of China
Beijing
This car company redesigned its luxury model, the Continental, to appeal to wealthy Chinese who could afford chauffeurs.
Lincoln
What are the three different segments among China's 1 percent?
1. Newly Rich
2. Super Elite
3. Government Officials
his segment of Chinese luxury shoppers prefers brands like Louis Vuitton, Gucci, and Chanel due to their practicality.
Newly Rich
This Italian luxury car brand, known for its prancing horse logo, is famous for producing high-performance sports cars.
Ferrari
This iconic Chinese landmark was built to protect against invasions from the north.
The Great Wall of China
The term used to describe the increasing demand for luxury goods among Chinese consumers from multiple socioeconomic tiers.
Waterfall or Cascade Model
A crackdown on this has dampened demand for luxury goods among Chinese government officials.
Corruption
This segment of Chinese luxury consumers tends to purchase exclusive brands with discreet branding, like Bottega Veneta, to signal superior taste.
Super Elite
This segment includes individuals who seized entrepreneurial opportunities in the 1980s when China began economic reforms.
Super Elite
This is China's most populous city.
Shanghai
This strategy in global marketing involves modifying a product or service to meet the local needs, tastes, or legal requirements of different countries.
Adaptation
This cultural practice involves gift-giving, which has influenced luxury goods sales in China.
Guanxi
This term refers to the young woman who accompanies a wealthy Chinese man, often seen during luxury shopping sprees.
Xiao San
This group is sometimes referred to as "rich rednecks" due to their wealth and rural origins.
Newly rich
This large river, the longest in China, flows through major cities like Shanghai.
Yangtze River?