This report is similar to literature synopsis, wherein three journal research articles will be selected and reviewed. Moreover, based on the learner understanding, a structured synopsis will be provided. The first article is based on the impact of income and culture on sales of the luxurious product. The second article elaborates the emerging marketing issues. The last article will elucidate the implications of social media on marketing.
Dubois, B., & Duquesne, P. (1993). The Market for Luxury Goods: Income versus Culture. European Journal of Marketing, 27(1), 35–44. doi:10.1108/03090569310024530
“To compare the power of socio-economic class versus culture in the context of the market for luxury goods”
H1: More the income of a person, the higher the chances for purchasing the luxury goods
H2:More the positive behaviour towards cultural change, higher the chances to purchase luxury goods.
The following research made use of quantitative research method as a part of the ACE (American Change in Europe) programme. For the research purpose, the quota sampling technique was used and 7600 Europeans were surveyed in five of the worlds' luxurious market, namely the UK, France, Italy, Germany, and Spain. In order to ensure the representativeness, the quotas were made based on sex, profession, age, geographical location, and income. The socio-cultural items that are crucial are measured by ACE methodology. A survey was taken, wherein a set of questions were asked to the respondent.
The result of the scenarios revealed that there is no dependency between the two. In simple words, both "off-trend" and "on-trend" are taken into consideration from the elite class to the poor. It was not possible to predict anything from the link between income and cultural profile and vice versa.
In addition to this, it was revealed that out of 7600 respondent, 22 per cent of the elite class people and “on trend” purchase luxury goods. On the other hand, only 2 per cent among the low-income group i.e., "off trend". Such results clearly reflect the impact of income and culture on the purchase of luxury products.
It was also determined that income instigate people to purchase luxury goods. This was determined thatthe penetration of luxurious product is only3 per cent for the poor people and for the elite class it is 13 per cent. However, culture plays an identical role, as it was noticed that the demand for luxury goods tripled when the level of income was not regarded. Hence, the research proved both H1 and H2
This was my first research paper of this assessment report, and to be very true I got carried away by the catchy title of the paper. The paper was easy to understand in the very beginning but as soon as I arrived on the methodology part, the things become more technical. Before attempting this assignment, I had no idea about the ACE programme and therefore, I faced too much difficulty in understanding the methodology. In the later part, the use of some terminologies about which I barely have any idea was encountered. The level of the paper is above average. It helped me in learning and reviewing the research paper. The research hypothesis was clearly mentioned. However, understanding them by reading the whole document was not an easy task and it consumes a lot amount of time. Somehow, I managed to complete the paper and now, I am well aware of the fact that cultural aspects do have a great impact on sales of the luxurious product.
Taylor, C. R. (2000). Emerging issues in marketing. Psychology and Marketing, 17(6), 441–447. doi:10.1002/(sici)1520-6793(200006)17:63.0.co;2-z
To study and understand the emerging and trending issues in the field of marketing
What are the issues associated with the marketing strategy that may affect the sales?
How to resolve these marketing issues quickly and efficiently and what opportunities can an organisation avail thereafter?
Since this is a straightforward research involving a lot of document analysis, the researchers have analysed various research studies based on marketing issues. In addition to this, focus group discussions and some kind of observational methods were brought into use by the researcher. The focus group discussions were semi-structured as the respondents were more comfortable with it. The complete set of findings were developed after combining the inferences of the two methods. This has enhanced the credibility of the research methods.
This paper was very interesting and it appealed to me due to its simplicity and unique areas of research. The researcher has made use of different qualitative research methods in order to collect data. However, in an attempt to bring more understanding to other learners, the author has tried to cover a large amount of information in a constraint space. I learned about major marketing issues. Some of which I knew but the last two issues were new to me and I am glad that I chose this research paper. Overall, I increased my understanding of marketing.
Alves, H., Fernandes, C., & Raposo, M. (2016). Social media marketing: a literature review and implications. Psychology & Marketing, 33(12), 1029-1038.
To understand and study social media marketing by reviewing the most prominent literary works.
Within the research scope, the research paper is based on a systematic literature review. For that purpose, 44 research papers had been reviewed by the researcher. The whole process was divided into two stages, wherein the first stage is planning the review. In this stage, the authors with similar kind of methodology were grouped together. In the second stage, the review and analysis were conducted.
Since my interest is in marketing, the following research paper helped me in getting an insight into one of the ways of marketing. While reading the paper, I was able to create the images in mind as I use social media very often. The paper was well-structured and it covered a wide range of aspects related to the marketing very thoroughly. Out of five research paper, I chose this work because it had clearly defined what was needed to complete this task. The language and the sentence structure were good and the best part is that the author has provided a critical analysis of social media along with the limitations. Overall it was a learning experience and it greatly helped me in improving my knowledge about social media platform and their usage in business marketing.
In this report, the three journal research articles had been reviewed and based on the learner understanding, a structured synopsis has been provided. The first article discussed the impact of income and culture on sales of the luxurious product. The second article elaborates the emerging marketing issues. The last article covered the implications of social media on marketing.
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