Luxury Products and Consumer Behavior Marketing Essay
Consumer behavior is the study of the processes involved when individuals or groups select, purchase, use or discard products, services, ideas or experiences to satisfy needs and desires, Solomon et al, 2009. Understanding consumer behavior is a crucial element of the successful management of any modern. Similarly, a student says, “I currently don't buy luxury products because of my student status, but this will change once I have a steady income.” 03FDFi is an example of an aspirational peer group, where a consumer has the urge and desire for luxury products, but wants to buy, own and use luxury products in the future thanks to, Thanks Jitesh A Sanghvi MMS - 137 2008-2010 KJ Somaiya Institute of Management Studies amp Research Jitesh Sanghvi - MMS - 137, Marketing Understanding consumer behavior towards luxury products Sr. No. 2. CONTENTS Company Overview Secondary Research Luxury Products: How,