Effects of Digital Marketing And Luxury Customs
Added on 2022-09-17
89 Pages21160 Words17 Views
Running head: DIGITAL MARKETING AND LUXURY CUSTOMER TRENDS
A STUDY TO EVALUATE THE EFFECTS OF DIGITAL MARKETING (SOCIAL
MEDIA) IN THE LUXURY CONSUMER TRENDS IN MUMBAI, INDIA
Name of the Student:
Name of the University:
Author’s Note:
A STUDY TO EVALUATE THE EFFECTS OF DIGITAL MARKETING (SOCIAL
MEDIA) IN THE LUXURY CONSUMER TRENDS IN MUMBAI, INDIA
Name of the Student:
Name of the University:
Author’s Note:
DIGITAL MARKETING AND LUXURY CUSTOMER TRENDS1
ABSTRACT
This study focuses on the topic “Effects of Digital Marketing (Social Media) in the Luxury
Consumer Trends in Mumbai, India”. The different luxury products had gained a substantial
amount of popularity among the customers of Mumbai and it had been seen that the different
luxury brands operational in the city of Mumbai had been taking the help of social media
marketing for influencing the buying or the purchase behavior of the customers. Thus, the
researcher undertook the study to understand the impact of social media marketing of the buying
decisions made by the customers related to the purchase of the luxury products.
The researcher found that the use of social media marketing by the luxury brands operational in
the city of Mumbai offers them various benefits which in turn had helped them to attain the
desired level of success. For instance, it had helped the luxury brands to cascade adequate
information to the customers regarding the luxury products offered by the luxury brands and also
regarding themselves as well. This in turn had helped the luxury brands to substantially enhance
the visibility of the luxury products offered by them and thereby effectively influence the
customer behavior or for that matter the decision making process undertaken by the customers
for the purchase of luxury products.
The researcher found that the general assumptions of the people that the women or the female
individuals generally buy luxury products or for that matter get influenced by the social media
advertisements related to the luxury products and purchase the same is not completely accurate.
For instance, the results of the study clearly indicate that the individuals from all three genders
get equally influenced by the digital promotional advertisements placed by the luxury brands
over the different social media platforms. Thus, it becomes important for the luxury brands to
ABSTRACT
This study focuses on the topic “Effects of Digital Marketing (Social Media) in the Luxury
Consumer Trends in Mumbai, India”. The different luxury products had gained a substantial
amount of popularity among the customers of Mumbai and it had been seen that the different
luxury brands operational in the city of Mumbai had been taking the help of social media
marketing for influencing the buying or the purchase behavior of the customers. Thus, the
researcher undertook the study to understand the impact of social media marketing of the buying
decisions made by the customers related to the purchase of the luxury products.
The researcher found that the use of social media marketing by the luxury brands operational in
the city of Mumbai offers them various benefits which in turn had helped them to attain the
desired level of success. For instance, it had helped the luxury brands to cascade adequate
information to the customers regarding the luxury products offered by the luxury brands and also
regarding themselves as well. This in turn had helped the luxury brands to substantially enhance
the visibility of the luxury products offered by them and thereby effectively influence the
customer behavior or for that matter the decision making process undertaken by the customers
for the purchase of luxury products.
The researcher found that the general assumptions of the people that the women or the female
individuals generally buy luxury products or for that matter get influenced by the social media
advertisements related to the luxury products and purchase the same is not completely accurate.
For instance, the results of the study clearly indicate that the individuals from all three genders
get equally influenced by the digital promotional advertisements placed by the luxury brands
over the different social media platforms. Thus, it becomes important for the luxury brands to
DIGITAL MARKETING AND LUXURY CUSTOMER TRENDS2
take into particular aspect into consideration while determining their digital marketing strategies
or the formulation of the digital advertisements that they would place over the different platforms
of social media.
take into particular aspect into consideration while determining their digital marketing strategies
or the formulation of the digital advertisements that they would place over the different platforms
of social media.
DIGITAL MARKETING AND LUXURY CUSTOMER TRENDS3
ACKNOWLEDGEMENT
I would like to thank my Professor, Mr. ..............., for offering me the opportunity to
complete my dissertation on the topic “A Study to Evaluate the Effects of Digital Marketing
(Social Media) in the Luxury Consumer Trends in Mumbai, India”. Furthermore, I would also
like to acknowledge the academic support which had been provided to me by my Supervisor
during the completion of this study.
Lastly, I would take this opportunity to thank my friends and family members for the constant
support that they have given me and without which I would never have been able to complete
this dissertation.
Thank You.
--------------------------------------------------
(Name of the Researcher)
ACKNOWLEDGEMENT
I would like to thank my Professor, Mr. ..............., for offering me the opportunity to
complete my dissertation on the topic “A Study to Evaluate the Effects of Digital Marketing
(Social Media) in the Luxury Consumer Trends in Mumbai, India”. Furthermore, I would also
like to acknowledge the academic support which had been provided to me by my Supervisor
during the completion of this study.
Lastly, I would take this opportunity to thank my friends and family members for the constant
support that they have given me and without which I would never have been able to complete
this dissertation.
Thank You.
--------------------------------------------------
(Name of the Researcher)
DIGITAL MARKETING AND LUXURY CUSTOMER TRENDS4
Table of Contents
Chapter 1: INTRODUCTION.......................................................................................................10
1.1 Introduction..........................................................................................................................10
1.2 Background of the Study.....................................................................................................11
1.3 Scope of the Study...............................................................................................................11
1.4 Rationale of the Study.........................................................................................................12
1.5 Research Aim.......................................................................................................................13
1.6 Research Objectives.............................................................................................................13
1.7 Research Questions..............................................................................................................13
1.8 Research Hypotheses...........................................................................................................14
1.9 Structure of the Study..........................................................................................................14
1.10 Summary............................................................................................................................16
Chapter 2: LITERATURE REVIEW............................................................................................17
2.1 Introduction..........................................................................................................................17
2.2 Luxury Goods in the Economics Theories..........................................................................17
2.3 Theory of Luxury Brands....................................................................................................19
2.4 Luxury Goods and Consumption Trends.............................................................................21
2.4.1 The Value of the Details Making the Difference..........................................................21
2.4.2 Buyers Prefer the Low Profile and Not Show Off........................................................21
2.4.3 The Values that Matter are More Socially Oriented than Exclusively Individual.......21
Table of Contents
Chapter 1: INTRODUCTION.......................................................................................................10
1.1 Introduction..........................................................................................................................10
1.2 Background of the Study.....................................................................................................11
1.3 Scope of the Study...............................................................................................................11
1.4 Rationale of the Study.........................................................................................................12
1.5 Research Aim.......................................................................................................................13
1.6 Research Objectives.............................................................................................................13
1.7 Research Questions..............................................................................................................13
1.8 Research Hypotheses...........................................................................................................14
1.9 Structure of the Study..........................................................................................................14
1.10 Summary............................................................................................................................16
Chapter 2: LITERATURE REVIEW............................................................................................17
2.1 Introduction..........................................................................................................................17
2.2 Luxury Goods in the Economics Theories..........................................................................17
2.3 Theory of Luxury Brands....................................................................................................19
2.4 Luxury Goods and Consumption Trends.............................................................................21
2.4.1 The Value of the Details Making the Difference..........................................................21
2.4.2 Buyers Prefer the Low Profile and Not Show Off........................................................21
2.4.3 The Values that Matter are More Socially Oriented than Exclusively Individual.......21
DIGITAL MARKETING AND LUXURY CUSTOMER TRENDS5
2.4.4 Luxury is Much More Abstract and is Associated with Experiences...........................22
2.5 Social Media, Marketing and Luxury Products...................................................................22
2.6 Method of collecting literature review................................................................................23
2.7 Summary..............................................................................................................................23
3.1 Introduction..........................................................................................................................26
3.2 Research Outline..................................................................................................................26
3.3 Research Onion....................................................................................................................27
3.4 Research Paradigm..............................................................................................................28
3.4.1 Research Philosophy.....................................................................................................28
3.4.1.1 Justification for the Selected Research Philosophy...................................................29
3.4.2 Research Approach.......................................................................................................29
3.4.2.1 Justification for the Selected Research Approach.....................................................30
3.4.3 Research Design...........................................................................................................30
3.4.3.1 Justification for the Selected Research Design..........................................................31
3.5 Sampling Method.................................................................................................................31
3.5.1 Justification for the Selection of the Sampling Method...............................................32
3.6 Research Strategy................................................................................................................32
3.6.1 Justification for the Selected Research Strategy...........................................................32
3.6.2 Justification for the Selected Survey Questions...........................................................33
3.7 Data Collection Methods.....................................................................................................34
2.4.4 Luxury is Much More Abstract and is Associated with Experiences...........................22
2.5 Social Media, Marketing and Luxury Products...................................................................22
2.6 Method of collecting literature review................................................................................23
2.7 Summary..............................................................................................................................23
3.1 Introduction..........................................................................................................................26
3.2 Research Outline..................................................................................................................26
3.3 Research Onion....................................................................................................................27
3.4 Research Paradigm..............................................................................................................28
3.4.1 Research Philosophy.....................................................................................................28
3.4.1.1 Justification for the Selected Research Philosophy...................................................29
3.4.2 Research Approach.......................................................................................................29
3.4.2.1 Justification for the Selected Research Approach.....................................................30
3.4.3 Research Design...........................................................................................................30
3.4.3.1 Justification for the Selected Research Design..........................................................31
3.5 Sampling Method.................................................................................................................31
3.5.1 Justification for the Selection of the Sampling Method...............................................32
3.6 Research Strategy................................................................................................................32
3.6.1 Justification for the Selected Research Strategy...........................................................32
3.6.2 Justification for the Selected Survey Questions...........................................................33
3.7 Data Collection Methods.....................................................................................................34
DIGITAL MARKETING AND LUXURY CUSTOMER TRENDS6
3.7.1 Justification for the Selected Data Collection Method.................................................35
3.8 Data Analysis Methods........................................................................................................35
3.8.1 Justification for the Selected Data Analysis Method....................................................35
3.9 Research instruments...........................................................................................................36
3.10 Validity and Reliability......................................................................................................36
3.11 Ethical Considerations.......................................................................................................36
3.12 Limitations of the Study....................................................................................................37
3.13 Time Horizon.....................................................................................................................37
3.14 Summary............................................................................................................................38
Chapter 4: FINDINGS...................................................................................................................39
4.1 Introduction..........................................................................................................................39
4.2 Analysis of the Primary Analysis........................................................................................39
4.2.1 Descriptive Analysis.....................................................................................................39
4.2.2 Inferential Analysis.......................................................................................................40
4.2.2.1 Correlation.................................................................................................................40
4.2.2.2 Chi Square Test..........................................................................................................43
4.2.2.2.1 Gender.....................................................................................................................44
4.2.2.2.2 Age..........................................................................................................................49
4.2.2.3 Regression..................................................................................................................52
4.3 Summary..............................................................................................................................55
3.7.1 Justification for the Selected Data Collection Method.................................................35
3.8 Data Analysis Methods........................................................................................................35
3.8.1 Justification for the Selected Data Analysis Method....................................................35
3.9 Research instruments...........................................................................................................36
3.10 Validity and Reliability......................................................................................................36
3.11 Ethical Considerations.......................................................................................................36
3.12 Limitations of the Study....................................................................................................37
3.13 Time Horizon.....................................................................................................................37
3.14 Summary............................................................................................................................38
Chapter 4: FINDINGS...................................................................................................................39
4.1 Introduction..........................................................................................................................39
4.2 Analysis of the Primary Analysis........................................................................................39
4.2.1 Descriptive Analysis.....................................................................................................39
4.2.2 Inferential Analysis.......................................................................................................40
4.2.2.1 Correlation.................................................................................................................40
4.2.2.2 Chi Square Test..........................................................................................................43
4.2.2.2.1 Gender.....................................................................................................................44
4.2.2.2.2 Age..........................................................................................................................49
4.2.2.3 Regression..................................................................................................................52
4.3 Summary..............................................................................................................................55
DIGITAL MARKETING AND LUXURY CUSTOMER TRENDS7
Chapter 5: DISCUSSION..............................................................................................................56
5.1 Introduction..........................................................................................................................56
5.2 Discussion of the Findings...................................................................................................56
5.3 Summary..............................................................................................................................58
Chapter 6: CONCLUSION AND RECOMMENDATIONS........................................................59
6.1 Conclusion...........................................................................................................................59
6.2 Linking with Objectives......................................................................................................59
6.3 Recommendations................................................................................................................60
6.4 Future Scope........................................................................................................................61
References......................................................................................................................................63
Appendix 1.....................................................................................................................................83
Appendix 2.....................................................................................................................................85
Chapter 5: DISCUSSION..............................................................................................................56
5.1 Introduction..........................................................................................................................56
5.2 Discussion of the Findings...................................................................................................56
5.3 Summary..............................................................................................................................58
Chapter 6: CONCLUSION AND RECOMMENDATIONS........................................................59
6.1 Conclusion...........................................................................................................................59
6.2 Linking with Objectives......................................................................................................59
6.3 Recommendations................................................................................................................60
6.4 Future Scope........................................................................................................................61
References......................................................................................................................................63
Appendix 1.....................................................................................................................................83
Appendix 2.....................................................................................................................................85
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