Consumer Behavior American Premium Handbag and Accessory Industry

Question: Discuss about theConsumer Behaviorfor American Premium Handbag and Accessory Industry. Answer: Introduction of Coach Coach is one of the top sellers in the American premium handbag and the accessory industry. The primary aim of the firm is to be loyal to the customers and develop good and effective relations with them. The firm is continuously growing throughout the concerned market segments of China and United States and because of slow generation of the sales the firm is planning for rebranding and the transformational plan (Schiffman et al. 2016). Executive Summary of Article The article reveals the increase in the consumers for the luxury brands. China has emerged as the fastest growing country economy throughout Asia having a large number of the middle-class consumers. The increase in the salaries of the concerned urbanized consumers has enhanced the economic development of the country (Schiffman et al. 2016). Coach is one of the American luxury brands of handbag and accessories whose demands throughout China have increased significantly. The article overall reflects the increase in the demands of the luxury branded products by the middle-class consumers throughout china and the Asia-pacific. Characteristics Shared Among the Customers of Luxury Brands within China The luxury brands aim to target the middle-class consumers throughout china as they contribute 51% of the total population (Szmigin and Piacentini 2015). The shared characteristics among the luxury brands include the strategic movement within the third-tier and the second-tier cities, expanding the business processes rapidly, developing effective relations with the middle-class consumers and controlling product supply chain along with delivering a quality of the products to the targeted consumers (Solomon 2010). Moreover, the luxury brands are developing the excellent Chinese-oriented communication strategy for the consumers especially for the middle-class consumers getting higher salaries. References Schiffman, Leon, Aron OCass, Pamela Paladino, and Jamie Carlson. 2016. Consumer Behaviour (6Th Edition),. 6th ed. Australia Pty: PEARSON. Solomon, Michael R. 2010.Consumer Behaviour. Harlow, England: Prentice Hall/Financial Times. Szmigin, Isabelle and Maria Piacentini. 2015.Consumer Behaviour. Oxford: Oxford University Press.