“A Research on the service attributes of luxury mall (Quest, Kolkata) and impact of demographic and motivational factors on consumer behaviour towards services provided by luxury malls.”
By
Mohammed Danial
Student ID: 21408849,
Marketing Management des Services
(PGDM IMI Kolkata and Universite Francois-Rabelais Tours)
June 1ST 2015
A REPORT ON
“A Research on the service attributes of luxury malls (Quest, Kolkata) and to determine that these attributes act as motivational factors that affect consumer behaviour towards such malls”
PREPARED FOR:
DR. MOHUA BANERJEE
FACULTY – MARKETING
IMI KOLKATA
By
Mohammed Danial
Student ID: 21408849
Marketing Management des Services
(PGDM IMI Kolkata
…show more content…
Comparisons were made with findings in prior studies completed in Europe and the United States. Additional measurements were included to understand the impact of the Asian economic crisis on the luxury market. Findings showed, in Hong Kong, desire to own luxury goods was mainly generated by brand awareness. Unlike in the United States, the number of luxury goods consumers already own did not affect this desire. Moreover, people in Hong Kong hold a pessimistic view toward the future economy, and therefore they are expected to reduce their spending on luxury goods in the future. In particular, people, who had spent larger amount of money on luxury goods, planned to shrink their budgets on these goods in the …show more content…
RAJESH KESARI; ABHISHEK KUMAR SRIVASTATAVA
Source: International Journal of Marketing, Financial Services & Management Research
Vol.1 Issue 7, July 2012, ISSN 2277 3622
India has encountered a persistent surge in shopper purchasing force following the 1990s. The Indian buyer has ended up wealthier and all the more tolerating of western retail organizes with universal general stores chains, retail establishments and mass retailer preparing for extravagance retailers. Extravagance is a continually advancing and subjective idea, and not simple to characterize. capable instrument to draw in more buyers to purchase specific items. Some may even viewed it as value as it can add qualities to the items. Extravagance Fashion is a billion-dollar industry utilizing a large number of individuals far and wide. Since the time that the economy got to be more worldwide, customers have to an extensive degree been influenced by this quick advancing
Customer satisfaction is what makes a customer come back again for another experience. The customers know the kind of treatment they are going to receive before they enter the store.
It is interesting to consider Veblen’s theory of conspicuous consumption as it pertains to the modern day fashion industry, specifically the luxury fashion sector. In The Theory of the Leisure Class, Veblen said “we all find a costly hand-wrought articles of apparel much preferable to a less expensive imitation of it;” however, at the beginning of the 20th century, couture clothing was exclusively available to those who were very wealthy, simply because of how much the garments cost. By the mid-1930’s, businesses were beginning to change their ways of thinking after seeing the enormous profit that the Walt Disney Company received once they licensed the making of Mickey Mouse novelty items. Christian Dior was the first of many fashion designers to foll...
Their research argue that the traditional consumer habits have changed and that the stereotypes are deemed dated. The rise of the new trending is formed after the increase of the upper-middle class in 1st tier cities. The values of the new sophisticated class of Chinese consumers resemble that of the western consumers. The this study the research looks into the medium that influence the perception of Chinese consumers, an example of a medium is the social media. Social media like the fashion magazines that push the view of brands. In addition the international brands make their way more and more into the Chinese market place, I.e. high profile fashion promotional events in 1st tier cities like Shanghai and
First, when shopping, a big factor that will impact a customer 's experience is the customer service. Whether it’s from a simple “hello”, or an employee going out
According to the NY Times (2016:online) ‘Chinese market account for almost the half of the global luxury market, providing a high demand of goods in different segments’. (http://www.nytimes.com/2016/04/05/fashion/china-luxury-goods-retail.html). Younger and more sophisticated generation of shoppers are emerging in Asia looking for new aspirations and creating a new target market for luxury goods. The consumption has gone beyond the logo items (which can affect many brands), these new consumers look for a lifestyle and quality – it is not only purchasing anymore but about the
Zeithaml, Valarie A, Berry, Leonard L, & Parasuraman, A. (1996). The behavioral consequences of service quality. Journal of Marketing, 60(2), 31. Retrieved April 1, 2011, from ABI/INFORM Global. (Document ID: 9401886).
We recommend Vikram to use service quality framework (SERVQUAL) as a scale to measure and manage hotel guest’s perception of service quality in terms of five dimensions (session2 slide#45), which are (i) Reliability – OV employee’s ability to dependably and accurately perform the promised service to consistently delight its guests (ii) Assurance – Knowledge and courtesy of OV employees, and their ability to convey trust and confidence. (iii) Empathy – OV’s individualized attention and customized care it offers to its guests and understanding the customer to anticipate guest needs, wants and desires to enlighten the service. (iv)Tangibles – Refers to OV’s lavish tents and other physical facilities, equipment, pleasant appearance of OV personal, etc. (v) Responsiveness – OV’s willingness to help customers and provide prompt
Goss argues that developers and designers of the built environment, specifically shopping centers and malls, use the power of place and understanding the structural layout of the space to boost consumption of the retail profits. Shopping centers are separated from the downtown area of shopping either by distance and/or design. These establishments emerge for many to be the new heart and location for public and social life. In his article The "Magic of the Mall": An Analysis of Form, Function, and Meaning in the Contemporary Retail Built Environment, Goss also argues that the regulation of the spaces within the mall creates an atmosphere of "community" rather than one that is "public".
(Sorensen 2015). As the luxury market for goods becomes more increasingly competitive. The original luxury brand owners struggle to find ways for their products to stand out amongst all the ‘knock-off’ versions. The companies introduced the concept that shopping is an experience and that the if their products are luxury so should their
Shopping malls didn't just happen. They are not the result of wise planners deciding that suburban people, having no social life and stimulation, needed a place to go (Bombeck, 1985). The mall was originally conceived of as a community center where people would converge for shopping, cultural activity, and social interaction (Gruen & Smith, 2005). It is safe to say that the mall has achieved and surpassed those early expectations. Unfortunately, in today's consumer culture, the mall is the center of the universe and and this has shaped consumers in a negative way.
For the past several decades, globalization has been a hot topic and it also anticipates every aspect of the world to connect each other. Likewise, globalization also allows consumers to have more access to catch up with updated fashion. The advantages of globalization bring a new philosophy called fast fashion, which holds quick response time and enhanced design in fashion apparel industry. In this paper, I will deliver By exploring all the aspects of each system, I will conclude the reason why fast fashion becomes the mainstream of the fashion apparel industry, and use one particular brand, Zara, as an example to discover the impact on consumer behavior in detail. Finally I will make some comments on the future of fast fashion and what luxury brands will react to this circumstance……..
However, when looking to create a luxury brand, one must go beyond what is required of an ordinary brand, to create something of high value and therefore high prices. So instead of just having brand values, it should have brand beliefs, as this will create a stronger emotional connection with its customers. It should aim to go beyond having a logo, but rather a set of distinguishable icons and the brand’s points of sale needs to be somewhere that connects with its customers and becomes something of a pantheon among other retail outlets. Similarly the customer segmentation should have role reversal, so the customers want to buy their products. Luxury brands should instead of actively promoting their advantages over their competitors, never push the customers into buying their products, thereby offering mystique and letting the customers make the value creation. Lastly, a true luxury brand not only offers products but rather a way of life, allowing them to branch out over several product categories, into every aspect of their customer’s
(2011) examined the factors determining the choice of modern retail outlets and also showed the purchase of brands varies across different product categories and for some, consumers show distinct preference for non-branded products, which are purchased from traditional outlets. Thus, both traditional and modern retail can coexist in India. Knowledge and use of foreign brands, especially luxury brands, is low. A majority of the respondents is in favour of allowing FDI in retail. The paper points out that consumer welfare should be a key determinant of the retail FDI policy. The government should allow FDI in multi-brand retail, which will enhance brand knowledge, choices available to consumers and help to promote branding in certain segments like fruits and vegetables where there are only a few brands
One of the main causes of consumerism is directly related to one’s social status and the portrayal of one’s self image. Today’s society has defined what one must have in order to keep up with a particular trend or to represent a higher class. In a New York Times article, Juliet Schor wrote, “Driving a certain type of car, wearing particular designer labels, living in a certain kind of home, and ordering the right bottle of wine all create and support a particular image” for those heavily concerned about social status. Now, it no longer becomes a matter of “making ends meet” but instead a competition to see who has the newest “this” or the biggest “that”. As a result, consumers are facing issues with extreme materialism, leading to overspending.
Places such as coffee shops and lounges have been included in the structures of these malls to give consumers a more comfortable feeling of relaxation. Instead of shopping and leaving people are more enticed to sit back and relax. Enjoying a meal and a cup of coffee while shopping has become a time consuming yet enjoyable process for most shoppers. It's suggested that the longer a person stays the more money they are bound to spend. Mall managers and scientist are not attempting to manipulate the consumer but more so enhance their shopping experience. There's also a sense of creativity and connectivity found in calming environments such as coffee shops that establishments like shopping malls are trying to bring to the shopping