MATS65550 International Fashion Retailing
Added on 2019-11-08
26 Pages7623 Words238 Views
Running head: INTERNATIONAL FASHION RETAILINGInternational Fashion RetailingName of studentName of UniversityAuthor note
1INTERNATIONAL FASHION RETAILINGAbstractThe dissertation is composed to evaluate the various findings related to the impact ofbrand image, value and perception of consumers on the loyalty of customers within the Chineseluxury fashion sector. This dissertation includes the most important components of brand imageand value along with the perception of customers that can create a positive mindset amongcustomers and cerate loyalty among them as well. The research focused on how a string brandimage and value could make the customers make repeated purchases from the luxury fashionbrands and ensure that the existing customers are also retained efficiently. The main purpose ofconducting the research was to evaluate the effects created by a strong brand image along withhow it could be developed for creating trust and loyalty among customers, thereby influencetheir buying behaviors too. From the literature, it could be understood that brand awareness andcustomer loyalty had been created due to the strong brand image and value offered in terms ofthe good quality products and services delivered by the company. The data analysis thoughshowed that these major aspects of brand could have very little impact on the loyalty ofcustomers, still it had been believed that by maintain a string brand presence, it would be quiteeasy to attract the new customers as well as retain the existing ones within the luxury fashionindustry of China. The objectives of the research were to evaluate the impact of brand image andvalue, ways of creating a string brand image, perception of customers regarding the brandproducts and finally the recommendations to improve the brand image and identity to reach morecustomers and create a sense of trust and loyalty among them too. Thus, the objectives had beenmet and the research outcomes tend to be positive, which had allowed for driving a goodconclusion in the end of the dissertation.
2INTERNATIONAL FASHION RETAILINGTable of ContentsAbstract............................................................................................................................................1Chapter 1: Introduction....................................................................................................................31.0 Introduction............................................................................................................................31.1 Research background.............................................................................................................41.2 Purpose of research................................................................................................................51.3 Problem of the research..........................................................................................................51.4 Research rationale..................................................................................................................61.5 Aim of research......................................................................................................................71.6 Research objectives................................................................................................................71.7 Research questions.................................................................................................................81.8 Research hypothesis...............................................................................................................81.9 Research structure..................................................................................................................9Chapter 5: Conclusion and recommendations...............................................................................105.0 Conclusion...........................................................................................................................105.1 Linking with the objectives..................................................................................................115.2 Recommendations................................................................................................................18Self Reflection...............................................................................................................................20References......................................................................................................................................23
3INTERNATIONAL FASHION RETAILINGChapter 1: Introduction1.0 IntroductionThe Chinese luxury fashion sector is flourishing consistently and it has contributed to thegrowth in economy of the country as well. The Chinese luxury fashion companies havemaintained a positive brand image, which is the actual view of the customers about thatparticular fashion brand. The organizations within the Chinese luxury fashion industry havecreated various unique associations among the consumers’ minds to influence their buyingbehaviors. It increases a positive perception of customers about the products and services offeredby the organizations and the brand image can also help to create a positive emotional value.Maintaining a positive brand image can create good perception about the products and servicesamong the customers’ minds as well as allow them to understand the vision and mission of theorganization with ease and effectiveness (Fernie & Sparks , 2014). A positive image of theluxury fashion brand is created by developing an image, slogan that can state the organization’svision and support the key values of the organization effectively. The brand equity or value isthe benefits offered by the company in the form of products and services. The companies canmaintain good brand value if the products and services meet the needs and preferences ofcustomers and ensure keeping them satisfied as a whole (Caniato et al., 2014). By offeringluxury fashion products and services that can fulfill the demands and preferences of thecustomers it will be easy for the organization within the Chinese luxury fashion industry tocreate a positive mindset among the customers and ensure that they remain loyal customers allthroughout. The Chinese luxury fashion sector has managed to maintain positive brand imageand provided products that created brand equity by making those memorable, differentiable
4INTERNATIONAL FASHION RETAILINGfrom other company’s products and superior in terms of quality and reliability. This hasautomatically resulted in attracting large numbers of customers and retained the existingcustomers too, thereby increasing the sales revenue and profit level in business with ease andefficiency (Diamond, Diamond & Litt, 2015). 1.1 Research backgroundIn the present century, one of the biggest challenges faced by the organizations within theChinese luxury fashion sector is to develop a strong brand image and relationship with thecustomers for gaining competitive advantage in business effectively. Maintaining a positivebrand image has always helped in creating a positive effect on the consumer perceptionregarding the brand and loyalty of customers too. Loyalty among the customers towards aparticular product or service of a brand can be seen as the major aspect of marketing by theluxury fashion companies in China (Caniato et al., 2012). The loyalty factors also comprise ofvarious elements that can act as success indicators for the company. Creating awareness amongthe customers about the products and services can create strong customer hold as well as enhancetheir loyalty about the brand products through generation of better income, increased marketshare and accomplishment of business goals and objectives in an effective and reliable way. It isquite evident that the loyalty of customers can be generated when they are satisfied with thequality of products and services delivered to them by the luxury fashion company (Malik et al.,2012). Fulfilling the needs and requirements of the customers is thus essential for building apositive brand image, value and enhance the positive perception among the minds of consumers.The background of the research has focused on how the brand image, value and perceptionamong customers regarding the brand products and services can create loyalty among thecustomers with ease and effectiveness (Zhang, 2015).
5INTERNATIONAL FASHION RETAILING1.2 Purpose of researchThe purpose of the research is to evaluate the various findings of the research andunderstand how brand image, value and perception can create impact on the consumer loyaltywithin the Chinese luxury fashion industry. It is true that the satisfaction of consumers can begenerated when their needs and requirements are fulfilled after buying the luxury fashionproducts offered by the Chinese companies. The consumer satisfaction enables to find thecomparison between the expected results and perceptions of experiences. If the demands andexpectations of the customers are fulfilled, then they will be satisfied (Kapferer, 2012). Theobtaining of consumer loyalty is one of the major objectives of the customer relationshipmanagement and can help in determining the loyalty between the customers and organizationsalong with the products and services offered. To develop customer loyalty, it is important totarget the individual segments of market and provide products and services according to thedemands and preferences of theirs in each of the market segments (Severi & Ling, 2013). Thiswould not only build customer loyalty but would also make the customers ask for more and visitthe company on a consistent basis as their buying behaviors would be influenced with thecompany’s strong brand image, value offered and good quality products that were offered. Thus,the main purpose of conducting the research is to determine the impact created by brand image,value and perception of customers on creating positive attitude and behaviors among them andmake them loyal customers who can purchase the products of the company on a consistent basis(Tu, Wang & Chang, 2012). 1.3 Problem of the research The research tends to bring positive outcomes, but there are certain areas that lackedcertain aspects and can even create problems. Due to this, the research has been conducted to
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