Index of Paper Presentations for the Parallel Sessions - Academy of ...

It may be stated that the different perceptions of luxury are shaped by the economic, historical and culturaldevelopment factors in India and China. These perceptions result from two kinds of luxury consumption:one that is induced by extraneous factors such as public representation of wealth and success, and theother that is induced by internal factors such as sense of self satisfaction (Truong, 2010). These kinds ofconsumption have shown different outcomes in terms of the transfer of meaning in both the countries. InIndia, the consumers perceive that indulging in luxury will enable them to achieve appreciation fromothers and build emotional bonds with the luxury products. In contrast, the consumers in China perceivethat through luxury consumption, they would be able to portray their augmented selves through therepresentation of affluence. This leads to widespread penetration of the brands in these markets (Chadha,2008).7. Implications and Scope for Future ResearchA comprehensive understanding of the perceptions of the luxury consumers in India and China will enablethe marketers to develop different branding campaigns and strategies for these countries. It will berecognized that the consumers‘ perceptions have a deep impact on the meaning derived from the luxuryproducts. For instance, in India, the consumers perceive that luxury portrays self-indulgence andconfidence. Therefore, they associate emotional meaning with the products. Conversely, in China, theconsumers perceive that luxury represents enhanced portrayal of the self. They interpret that the luxuryproducts hold meanings to portray social success. Therefore, if marketing strategies are formulatedaccording to these differences, they will appeal better to the consumers in these nations. The hypothesesthat have been set out within this conceptual paper indicate great scope for further research to ascertainwhether the propositions are indeed sensible or whether we are moving towards a more homogeneousglobal consumption pattern in Luxury goods.Qualitative research could yield useful cross cultural information about consumption patterns in Luxurygoods.ReferencesAmarnath, N. (2011), ―Cartier: here luxury‘s a lifestyle‖, available at:http://articles.economictimes.indiatimes.com/2011-02-27/news/28638547_1_cartier-designs-famouspatiala-necklace-important-market/(accessed 25 March 2011).Atsmon, Y., Pinsent, D. and Sun, L. (2010), ―Five trends that will shape the global luxury market‖, available at:http://csi.mckinsey.com/en/Knowledge_by_topic/Consumer_and_shopper_insights/globalluxury.aspx/(accessed 27 March 2011).Atsmon, Y., Dixit, V., and Wu, C. (2011, April), Tapping China‘s luxury-goods market, available athttp://www.mckinseyquarterly.com/Tapping_Chinas_luxury-goods_market_2779 (accessed 10February 2012).Atwal, G. and Khan, S. (2008), ―Luxury marketing in India: ‗because I‘m worth it‘‖. Admap, Magazine, Issue 491,pp. 46-48.Bajpai, S. N. (2011), ―The leap of luxury‖, The week, 23 January, pp. 50.Banerjee, P. (2010), ―Indian luxury market to grow, upper middle class income surges‖, available at:http://in.ibtimes.com/articles/67909/20101002/luxury-brands-cii-cwg.htm/ (accessed 20 March 2011).