Contemporary & international marketing Case Study

Contemporary & world(prenominal) marketing - Case Study ExampleFurther, aspects like target segments, differentiation were also adequately addressed.The confederation Tatbury Crystal Glass Ltd is a family-owned manufacturer of quality cut glass made from full jot crystal. Known as Tutbury Crystal (TC) since 1984, manufacturing on the site in the Staffordshire village went back as further as the 15th century. In the 1920-60s, the crystal had the name Thomas, Webb & Corbett, a prestigious name renowned for high-quality product. The make crystals were to be seen as traditional, English, aspirational, handcrafted, single(a) and full of heritage.Luxury brands have characteristically been correlated with the essential proficiencies of originality and ingenuity, individuality, craftsmanship, truth and meticulousness, high quality, innovation and premium pricing. These product features provide consumers the satisfaction of not only having possession of expensive items but the added ps ychological benefits like esteem, prestige and a sense of high status that reminds them that they belong to an exclusive group of a select few who can afford these costly items.Generally, the luxury sector aims its products and function at consumers on the top-end of societys economic spectrum. These self-selected elite are more or less price-insensitive and choose to overstep their time and money on objects that are plainly considered as opulence rather than necessities. For these reasons, luxury and prestige brands have, for hundreds of course of instructions, commanded a stanch and often illogical customer loyalty. At present, the luxury market is taking on a new direction with exceptional demand coming from Asian countries, and hence research has centered on the cross-cultural comparison of attitudes toward the luxury concept (Dubois & Laurent, 1996 Dubois & Paternault, 1997) and the comparison of motivations between Asian and Western societies (Wong & Ahuvia, 1998). Nonethel ess, these investigations have focus on only some facets of prestige-seeking consumer behavior. Although researchers concur that the inquiry of prestige goods is interesting and significant, there is currently itty-bitty agreement about how best to define, and tehrefore understand, the psychology of prestige-related consumer behavior. Status brand strategies are intuitively recognised by marketing professionals and practitioners. However, there is little literature on the topic reported in scientific journals (Andrus, fluent & Johnson 1986).As a consequence of the remarkable growth of luxury markets over the years, the marketing arena has belatedly seen ample and significant interest in the study of prestige brands. Research in the UK projected significant social changes by the year 2000 (Powderly & MacNulty, 1990). Their study recognised that peoples needs for appearances and materialism were increasing. That is, they reported a rebellion demand for conspicuous and status pro ducts. In Australia, contemporary market reports seem to support this analysis. Australians have embarked on a shopping spree for imported luxury goods, with sales of diamonds, furs, caviar and champagne jumping this year (Rees 1997, p. 8). The United States economic recovery and the fast growing demand in Asia, before the slowdown that started in 1997, have also boosted the growth of the