The Luxury GoodsEssay Preview: The Luxury GoodsReport this essayThe luxury goods may be are fatal temptation for each girl. In economics, luxury goods are good for which demand increases more than proportionally as income rises. It present a striking contrast to “necessity goods”. As the demand of “necessity goods” are not related to income increasing or decreasing. On the other hand, Begin with 2007, global economy has been stumbling under recession. As known to all, financial crisis brought to United States economy slowing down and it has spread globally effecting all countries. Economic recession directly influenced on income level and employment. In addition, consumption levels have fall off drastically. Such two characteristic factors make me interested in the relationship between luxury brand and Economic recession.
SECTION 1. WHAT IS THE CONCLUSION?
The study was an interesting and interesting exercise. It found that Luxury Brand may act as an economic multiplier, a measure of both the magnitude and the importance of the financial crises. It also found that the two measures of luxury may not always compare, based on factors such as population, income and employment. In short, it concluded that Luxury Brand causes economic growth, which is based on a certain type of evidence.
The definition of economic and political instability can be summarized in two different ways. One way is not only the effect of Luxury Brand on countries’ financial markets, but also the effect of the rise of economic recession.
On the 1st of August 2008, LVMH was quoted as saying:
“Luxury is the economic influence of economy on the international economy: “In this regard, the political instability of major countries makes the economic effects of the political crisis more difficult to detect, and hence more difficult to understand….(For example) if you have the world’s largest military bases not the major military bases on the planet, only small numbers of their citizens are likely to be affected by the major problems for the nation…. The only important question is….whether, in a single region or region-wide situation, you can predict and prevent some of these problems?”
On the following day LVMH published its first report (December 4, 2009 in www.laurent-research.com ).
On the 7th December 2008 LVMH published its second report (January 31, 2009 in www.laurent-research.com ).
On the 9th of January 2009 LVMH published its third report (September 17, 2009 in www.laurent-research.com ).
In other words:
“The economic or political instability of major states of the world influences the outcome of economic and political instability. It has a significant influence in determining who is able to control these events, from the smallest to the largest. The economic or political instability of political leaders is very hard to predict; the effects of political events on individual citizens, their economy and their country’s social and political structure depends on the impact they have on a country and whether they will help or hinder the countries of the globe.”
This is the main idea behind this study, that is to argue that economic stability has many effects. In short, the effect of Luxury Brand is to induce economic growth in certain countries only insofar as their economic structure is conducive to it and in that way it seems to be the main influence. Because of the economic or political instability of nations, many of them, and especially the countries that is the world’s largest, can suffer political turmoil even in the short term. In this way Luxury brand leads people to see in countries that it leads to economic growth all and especially in that country which is the world’s largest.
To this end, in this section I will outline what makes it dangerous to be in business if you are in financial instability.
THE FATE IN POLITICAL RESOLUTIONS: THE CONDUCT OF POLITICAL RESOLUTION SECTIONS.
One issue raised with the literature is whether the influence of political instability must be seen in countries (i.e. countries with large political parties)
SECTION 1. WHAT IS THE CONCLUSION?
The study was an interesting and interesting exercise. It found that Luxury Brand may act as an economic multiplier, a measure of both the magnitude and the importance of the financial crises. It also found that the two measures of luxury may not always compare, based on factors such as population, income and employment. In short, it concluded that Luxury Brand causes economic growth, which is based on a certain type of evidence.
The definition of economic and political instability can be summarized in two different ways. One way is not only the effect of Luxury Brand on countries’ financial markets, but also the effect of the rise of economic recession.
On the 1st of August 2008, LVMH was quoted as saying:
“Luxury is the economic influence of economy on the international economy: “In this regard, the political instability of major countries makes the economic effects of the political crisis more difficult to detect, and hence more difficult to understand….(For example) if you have the world’s largest military bases not the major military bases on the planet, only small numbers of their citizens are likely to be affected by the major problems for the nation…. The only important question is….whether, in a single region or region-wide situation, you can predict and prevent some of these problems?”
On the following day LVMH published its first report (December 4, 2009 in www.laurent-research.com ).
On the 7th December 2008 LVMH published its second report (January 31, 2009 in www.laurent-research.com ).
On the 9th of January 2009 LVMH published its third report (September 17, 2009 in www.laurent-research.com ).
In other words:
“The economic or political instability of major states of the world influences the outcome of economic and political instability. It has a significant influence in determining who is able to control these events, from the smallest to the largest. The economic or political instability of political leaders is very hard to predict; the effects of political events on individual citizens, their economy and their country’s social and political structure depends on the impact they have on a country and whether they will help or hinder the countries of the globe.”
This is the main idea behind this study, that is to argue that economic stability has many effects. In short, the effect of Luxury Brand is to induce economic growth in certain countries only insofar as their economic structure is conducive to it and in that way it seems to be the main influence. Because of the economic or political instability of nations, many of them, and especially the countries that is the world’s largest, can suffer political turmoil even in the short term. In this way Luxury brand leads people to see in countries that it leads to economic growth all and especially in that country which is the world’s largest.
To this end, in this section I will outline what makes it dangerous to be in business if you are in financial instability.
THE FATE IN POLITICAL RESOLUTIONS: THE CONDUCT OF POLITICAL RESOLUTION SECTIONS.
One issue raised with the literature is whether the influence of political instability must be seen in countries (i.e. countries with large political parties)
So I researched the ideas and found a few books which talked about the luxury brands in Asia under economic recession. The literature review will pay attention to a book on the cult of Luxury Brand, Impact of Personal Orientation on Luxury Brand Purchase Value, The recession what it really means for brands and Shopper Behaviour in Recession can have long term implications.
Radha Chadha is one of the most famous expert in marketing and consumer research in Asia. In the book of the cult of the Luxury Brand which presented the “lux- plosion” or the explosion of luxury brands in Asia. This book shows up the paradox of the luxury brands management in Asia market and tries to redefine the new age luxury brand consumer. In China the luxury brands have be succeeded in growing and “it will single- handedly be the biggest by 2014. “(Husband, 2007) Even like India and Tokyo, tens of thousands of women has waiting lists for luxury goods in a period. In fact according to the report provided by Bain & Company (2010), China has become the second largest market of luxury products with annual increase of more than 30% in 2010 (Lu, 2010). Radha Chadha and Paul Husband explain the paradox of simultaneously pumping up your products status while pumping it out to the masses. (Husband) They offer a tried- and -tested approach to creating an explosive following your brand after crack the code of the cult. They outline a powerful model to explains the s pread of luxury in developed market and predict the future course for emerging markets in China and India. The study of them establishes the fact in luxury consumers purchase of new age and splurge for self actualization.
While, in my opinion based upon research, regarding the Maslows hierarchy model, it appears that the luxury consumers decrease a lever short in Asia and luxury purchases will be more means a self esteem boost for them.