Assignment: China Still A New Market
Understand the LVMH business
• what is its history? (briefly)
• what kind of business is it?
• what products does it sell?
• how many brands does it have? - what are they?
• how many countries does it operate in? - which ones?
• how successful is it?
• how long has it been successful for?
• is it successful across countries and brands?
• what is the evidence for success?
Understand the Chinese market
• How big is the Chinese market for luxury goods?
• Is this market growing or shrinking? How quickly and by how much?
• How does the size and growth of the Chinese market compare with other countries?
• What factors affect the Chinese market for luxury goods? (Political, Economic, Social, Technological, Environmental)
• Is this market stable or volatile?
• How much competition is there for LVMH in this market?
• What market share does LVMH have of the Chinese luxury market? Is this different for different products/brands? Is market share growing or shrinking/
Understand consumer preferences in the Chinese luxury goods market
• What kinds of Chinese consumers buy luxury goods? (think about age, gender, income, geography)
• What kinds of luxury goods are most popular with Chinese consumers?
• Where do Chinese consumers buy luxury goods?
• What are Chinese consumers' reasons for buying luxury goods?
• Where do Chinese consumers like to get information from about luxury goods?
• How price sensitive are Chinese consumers when buying luxury goods?
• How do Chinese consumers of luxury goods differ from consumers from other countries?
Understand the LVMH strategy and business model in China
• Use your own words to describe the 'six pillars' of LVMH's business model
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.