LUXURY BUYING OF CONSUMERS AND PROMOTION MIX

ABSTRACT Consumers choose only that brand which portrays their self-image in general. Different promotional strategies are used by companies to a position in such a way so that they can meet the lifestyle of the consumer which they are trying to acquire. They have an opportunity to redefine their market which would restrict competition due to a reduced number of consumers who would be paying attention to their specific brands as of the way they might identify their lifestyles. Most of the customers are starting their decision-making journey by evaluating promotional offers. The Internet also allowed people to check and compare different products and share their preferences. The present research tries to understand the influence of promotional offers on the frequency of buying luxury products and the intention to purchase. The research highlights the various aspects of the value chain and different promotional tactics like a discount, coupons, buy one get one, freebies, etc. used by the companies to attract customers. Data has been collected from 400 respondents of different gender, age group, profession, and religion. Results show that promotional offers attract more to the young generations as compared to the age group of 25-45 years. The research also provides useful insights for marketers to target customers effectively. Keywords: Age, Buying behavior, Luxury, Promotional offers, Brands.