KOREASCHOLAR

SOCIAL COMPARISON AND VIP MARKETING IN THE LUXURY INDUSTRY

Eunju Ko, Wonbae Pang, Rino Kim, Sue Ryung Chang
  • LanguageENG
  • URLhttp://db.koreascholar.com/Article/Detail/422673
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Global Marketing Conference
2023 Global Marketing Conference at Seoul (2023.07)
p.597
글로벌지식마케팅경영학회 (Global Alliance of Marketing & Management Associations)
Abstract

As the demand for luxury brands faces uprising trends in popularity, marketing strategies strive to fully encompass the shifting tides of the market. Especially, high-end customers, hereby VIPs, are heavily nurtured based on their high-spending nature. With the understanding of VIP sales behavior based on social comparison and the adequate use of VIP marketing programs, luxury brands can optimize their sales of luxury brands. However, scant research examines the simultaneous impact of social comparison and VIP marketing in the luxury industry.

Keyword
Social comparisonPopularity effectVIP marketingLuxury industry
Author
  • Eunju Ko(Yonsei University, South Korea)
  • Wonbae Pang(Yonsei University, South Korea)
  • Rino Kim(Yonsei University, South Korea)
  • Sue Ryung Chang(Yonsei University, South Korea)