Negative And Negative Effects Of Luxury Consumers

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“A variety of new sources of online information that are created, initiated, circulated and used by consumer intent on educating each other about products, brands, services, personalities, and issues” (Blackshaw & Nazzaro, 2004, p. 2) Mostly when it comes to Luxury brands consumer to consumer interaction is the key concern as it has both negative and positive aspects for companies. It can promote companies or can crack them badly; it all depends on the experienced consumer’s reviews. If they have positive reviews regarding the product/ service of the company, then it is an edge for the company’s product/ service promotion. Whereas, if consumers posted negative reviews about company product/ service and they post it on social media and share…show more content…
Anyone who wants to purchase a luxury good will first acquire information about the good. It can also be illustrated as, the human senses that include touch, visual, taste, smell, or feel all are very important while purchasing luxury goods. Luxury goods are mostly purchased by people who want to show off their things so these goods should be promoted very effectively and continuously all over the world or circle defined by the company so that it has an impact on consumer mind.The internet is not the only channel for promoting luxury goods. These luxury goods should be promoted through each and every possible means of promotion to have an impact that counts. However, the internet provides the facility to promote more than a single product at one place, increasing the reputation of the company along with the interest. (Macmillan,…show more content…
• Learn new ways of promoting their product e.g Mercedez Tweet Fleet campaign which informed drivers about empty parking spaces through social media alerts. • Create new product ideas, business model and product testing. • Build new values, promote brand heritage and build differentiation from mass marketing. • Strengthen its relationship with customers by providing platform for interaction and awareness. One very important thing common in social media and luxury brands is that both have the same target market i.e. “Youth”. Social media is very popular among the young people as are luxury brands. Young people who’ve grown up surrounded by modern technology and change themselves with the change of technology are also the target market of Luxury Brand. As the youth that demands luxury goods loves to share it on social media, both have a very strong connection. Luxury brands use social media to promote product/service whereas social media is crowded with posts of people who discuss luxury brands with each other. (Reyneke, 2011). What Brand Gains from

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