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Business Research Methodology | Report

   

Added on  2020-03-16

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Running head: BUSINESS RESEARCH METHODOLOGYBusiness research methodology

BUSINESS RESEARCH METHODOLOGY2Reflection reportThis research proposal was beneficial for me to improve my research skills and understanding about the relationship between luxury brands and gender. From this research, it is analyzed that luxury goods exist in approximately all kinds of consumer products and for men and women, income status, age, preference and taste, and social status of people, and product availability determines the consumption of luxury goods(Vigneron and Johnson, 2017). This research has gained my depth understanding about the luxury brand. In this way, it is evaluated that women have afavorable attitude with respect to branded and luxury brands than men. Additionally, I have learned that female can pay relatively high price as compared to males for the luxury brands. However, there is direct association amid theage of women and their awareness of luxuryproducts. From the literature review, it is observed that branded and luxury products are boughttoonly those individuals who have capabilities to afford it(Nwankwo, et. al., 2014). Consequently, I am able to become a good marketing manager and it enhanced my career in thelong and short-term. This research has also enhanced my knowledge that there is favorable association amid luxury product and age which influence the customers with respect to diverse products and services. It enables me to make anappropriate decision regarding therelationship between luxury product andage. I have also learned that youngsters are the targeted customers for selling the luxury productsand services. This research defines that youngsters are highly aware regarding their appearance and status hence they give preference to use luxury products(Kapferer, et. al., 2017). As a result, I am able to target the right customers for luxury products and services within an organization. During this research, I have gained my experience regarding different factors which may affect the perception of customers. In this way, I have learned that quality is the key factor which may

BUSINESS RESEARCH METHODOLOGY3alter the perception of people and also provides word of mouth publicity among people. This is beneficial for me to address the factors which may alter the customer’s need as I can grow my professional career effectively and efficiently. This research has also developed my understanding about the peer pressure. It can be evaluated that peer pressure is aprime factor to make alternation in preferences of customers and also increase the demand for luxury products and services(Yang, et. al., 2016). This depth understanding is also effective for me to make attractive marketing strategy within an organization. As a result, it will gain my marketing skills and have positive impact on my professional growth. From this research, I have also learned that physical attractiveness increases the demand for the luxury brand as people discriminated their thoughts according to the luxury products and services. This is beneficial for me to consider these points to make effective marketing strategy as I can enhance my career in the field of marketing.During this research, it is analyzed that innovation is acommon perspective luxury product whichsupports the retailers to pull the attention of more customers. Hence, it is significant for me to consider innovative ideas while developing the marketing strategy at the workplace. It can be also evaluated that people have more disposable income as compared to earlier age-group, therefore, they give thefirst choice to their desires and needs through experience(Chu, et. al., 2013). As a result, I am competent to assess the relationship between income and luxury brands. Moreover, I have learned that there are different government policies that should be introduced to enhance the relationship betweenluxury brand and gender. I have also enhanced my experienced regarding the impact of technology on the relationship between luxury brands and gender.

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