Advances in Economics, Management and Political Sciences

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Proceedings of the 2nd International Conference on Financial Technology and Business Analysis

Series Vol. 49 , 01 December 2023


Open Access | Article

Research on the Marketing Strategy of LVMH in the Chinese Market under the Background of New Media

Sixuan Li * 1
1 University At Buffalo, 12 Capen Hall, Buffalo, United States

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 49, 9-14
Published 01 December 2023. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Sixuan Li. Research on the Marketing Strategy of LVMH in the Chinese Market under the Background of New Media. AEMPS (2023) Vol. 49: 9-14. DOI: 10.54254/2754-1169/49/20230470.

Abstract

China’s new media has developed rapidly in recent years, and society has entered the era of new media. At the same time, China’s economic level is developing rapidly, and people’s living standards are also greatly improved. The demand for luxury goods is greatly increased. The huge population makes China become the largest consumer of luxury goods. In this context, various luxury brands have different marketing strategies for the China market. As one of the world’s largest luxury goods companies, LVMH is bound to change its marketing strategy for China market. In addition to an overview of the topics and trends covered in the relevant literature, this paper mainly discusses the impact of new media on the luxury industry and how the luxury industry should change in the new media environment. For some academics and marketing managers of luxury brands, this paper can provide some theoretical basis and is of great reference for changing marketing strategies.

Keywords

luxury, luxury brands, Chinese market, new media, marketing strategy

References

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3. Reid, J. (2023, April 24). Luxury goods giant LVMH becomes the first European company to surpass $500 billion in market value. CNBC. https://www.cnbc.com/2023/04/24/lvmh-becomes-the-first-european-company-surpass-500-billion-in-value.html

4. Laurent, Gilles and Dubois, B., (1998), Luxuries for the Happy Many, Post-Print, HAL, https://EconPapers.repec.org/RePEc:hal:journl:hal-00821729.

5. Low, J. (2022, July 1). LVMH’s Strategy in Asia is a Multi-Pronged Approach. LUXUO. https://www.luxuo.com/editors-picks/lvmhs-strategy-in-asia-is-a-multi-pronged-approach.html

6. Essamri, A., McKechnie, S., & Winklhofer, H. (2019). Co-creating corporate brand identity with online brand communities: A managerial perspective. Journal of Business Research, 96, 366–375. https://doi.org/10.1016/j.jbusres.2018.07.015

7. People’s Daily Online, Six “similarities” and “differences” of Chinese and American new media, 2016.11.22, 2023.7.13, http://media.people.com.cn/n1/2016/1122/c40606-28887445.html

8. Zhou, L., & Wang, T. (2014). Social media: A new vehicle for city marketing in China. Cities, 37, 27-32.

9. Danziger, P. N. (2023, January 25). ‘Guochao’ Trend May Disrupt Western Luxury Brands’ Dominance In China. Forbes.https://www.forbes.com/sites/pamdanziger/2023/01/25/guochao-trend-may-disruupt--western-luxury-brands-dominance-in-china/?sh=4738a22522f5

10. Falahat M, Knight G, Alon I. Orientations and capabilities of born global firms from emerging markets[J]. International Marketing Review, 2018, 35(6):936-957.

11. Chandon, J. L., Laurent, G., & Valette-Florence, P. (2016). Pursuing the concept of luxury: Introduction to the JBR Special Issue on “Luxury Marketing from Tradition to Innovation”. Journal of Business Research, 69(1), 299-303.

Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
ISBN (Print)
978-1-83558-145-2
ISBN (Online)
978-1-83558-146-9
Published Date
01 December 2023
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/49/20230470
Copyright
© 2023 The Author(s)
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated