Younger generations (defined here as Millennial and Gen Z) have a new relationship to luxury brands versus older generations. Many factors contribute to their attitudes.
Based on the country where you are from, or where you consider to be "home," what would you recommend luxury brands (as we define them in the course) do to attract these younger generation consumers? Use as an example one particular luxury brand that you would like to see succeed in your country. Describe what factors contribute to their attitudes towards luxury brands.
Assume for the purposes of this assignment younger consumers who could afford to buy the one luxury brand you use as your example, whether they may currently want to purchase or not.
Follow the structure and details of the rubric.
Country of Analysis
Identify the country in which you intend to focus on for this assignment. Why have you selected this country? In your opinion, is there an established market for luxury brands?
5.0 pts
Description of Target Audience
For this assignment, the target audience is defined as younger generation consumers: Millennials and Gen Z.
Describe the demographic and psychographic characteristics of this target audience in the country you have selected. What are their attitudes towards luxury and luxury products or services? What are their broader societal concerns that may influence their attitudes toward luxury brands? Is there a sufficient population of such target customers to sustain a marketing effort?
20.0 pts
Brand Investigated
What brand have you selected to market to your identified target audience? Why have you selected this brand? What is this brand's current situation in your country of analysis? How is it currently perceived and marketed?
Sample Solution