Luxury consumers’ behavior: a cross-cultural aspect
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Author(s)Olena NaumovaLink to ORCID Index: https://orcid.org/0000-0002-1237-833X
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Svitlana BilanLink to ORCID Index: https://orcid.org/0000-0001-9814-5459
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Mariia NaumovaLink to ORCID Index: https://orcid.org/0000-0002-3670-0231
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DOIhttp://dx.doi.org/10.21511/im.15(4).2019.01
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Article InfoVolume 15 2019, Issue #4, pp. 1-13
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A comprehensive study of the consumers’ needs and demands, the patterns of their social and cultural behavior are essential to the success of the modern luxury companies in their market activity. The purpose of research is to study the possible differences and similarities in the perception of luxury and motivation to purchase these goods by consumers in different parts of the world and selection of acceptable marketing tools. The study is built on the results of analysis of cultural values in some countries using the country comparison tool developed by Hofstede and the results of analysis of scientific articles on the behavior of luxury goods consumers in different countries. The methodology approach – Hofstede’s model of national culture and scientific studies belonging to cultural impacts on luxury consumers’ behavior – is applied to explore cross-cultural differences in luxury consumption behavior. The findings of the study are as follows: consumers from countries with high power distance, collectivism, and masculinity, long-term orientation, and low indulgence primarily perceive social values in consuming luxury goods and are sensitive to conspicuous luxury-status. In cultures with high individualism, masculinity, indulgence, and low power distance, consumers display to perceive individual and functional values and are sensitive to “emotional hedonistic luxury.” The consumption of luxury goods in the Asian region is characterized by significant focusing on social values and status consumption, more than in the rest of the world. The motives of achievements in the form of self-realization and self-actualization are among the main reasons for the luxury consumption of European Union consumers.
- Keywords
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JEL Classification (Paper profile tab)M31, D12
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References42
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Tables1
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Figures2
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- Figure 1. The values of the Hofstede’s cultural dimensions
- Figure 2. The portrait of worldwide luxury market from 2013 to 2016
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- Table 1. The main data of the top 100 luxury companies from 2013 to 2016
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Marketing environment and marketing management of universities in Ukraine: national and regional dominants
Yurii Petrunia ,
Victor Chentsov ,
Norbert Życzyński ,
Vira Petrunia
doi: http://dx.doi.org/10.21511/im.15(1).2019.01
The marketing environment of universities’ activities in Ukraine is changing dramatically. As a result, the system of chances and risks for universities is constantly changing. Therefore, timely detection of changes in the marketing environment and effective management ensure the competitiveness of the universities. The aim of the article is to identify the marketing environment dominants of the Ukrainian universities, as well as to assess the efficiency of marketing tools application in the system of universities’ management. On the basis of statistical and primary data analyses, the higher education market in Ukraine both at the state and regional levels has been assessed and the university’s dependence on market sources of funding has been substantiated. As the modern domains of the marketing environment of universities, changes in the distribution of state-funded places, the impact of external independent testing, and the intensification of competition between universities are determined. The influence of external independent testing on structural intersegmental changes concerning the choice of specialties of universities’ entrants is proved. The comparative characteristics of the marketing management tools in Ukrainian and Polish universities are considered. The obtained results outline the importance of strengthening the marketing orientation of management in universities.
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The role of e-banking as a marketing tool
Maurice Ayuketang Nso
doi: http://dx.doi.org/10.21511/im.14(4).2018.05
Banks and financial services providers can make use of electronic tools in marketing their products and services. The role of e-banking as a marketing tool has not generated a lot of interests by scholars and researchers in this area. This paper examines and discusses the usage of e-banking in marketing the products and services of banks. It illustrates that e-banking could be used for marketing by banks, financial institutions and services providers, and other businesses. Putting together techniques on ebanking, marketing and technology, there is a favorable tri-existence of cross and up selling, cross-marketing and cross cost cutting advantages for financial services providers using e-banking tools in marketing activities. Using Chi-square technique to testthe hypothesis, the paper affirms that e-banking can be used as a marketing tool in marketing the products and services of banks and financial services providers. Three questions were ditched out to students who have at least studied a course in e-banking, marketing of financial services and/or researched on digital banking, thus underlining the respondents’ acquaintances with and knowledge in e-banking concepts as key in the research. Students – of course young, whatsapps and Google classroom media used to collect data are attributes that entertain favorably the application of e-banking as marketing tool.
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Main tools of integrated marketing communications of banks
The question of the essence of the main tools of integrated marketing communications in the activity of banks of Ukraine is investigated. Their introduction in the management of Ukrainian banks is becoming relevant nowadays. Influence of such factors as intensification of competition; penetration of foreign banks into the Ukrainian market; expansion of the scope of banks’ activities determine the search for effective tools of integrated marketing communications. The purpose of the study is to substantiate and systematize theoretical and methodological approaches to the application of the main tools of integrated marketing communications of banks. The object of research is main tools of integrated marketing communications in the activities of banks. The theoretical basis of the study is the theories and marketing concepts of scientists. The results of the study allowed to determine the essence of such concepts as «marketing tools», «tools», «tools of marketing communications». The main tools of integrated marketing communications of banks as the most effective tools in modern market conditions are highlighted. Their use plays an important role in forming a positive image of the bank. Features of application of the main tools of integrated marketing communications for promotion of banking products and provision of banking services are considered.
