Research on the Marketing Strategy of LVMH in the Chinese Market under the Background of New Media

Abstract

Chinas new media has developed rapidly in recent years, and society has entered the era of new media. At the same time, Chinas economic level is developing rapidly, and peoples living standards are also greatly improved. The demand for luxury goods is greatly increased. The huge population makes China become the largest consumer of luxury goods. In this context, various luxury brands have different marketing strategies for the China market. As one of the worlds largest luxury goods companies, LVMH is bound to change its marketing strategy for China market. In addition to an overview of the topics and trends covered in the relevant literature, this paper mainly discusses the impact of new media on the luxury industry and how the luxury industry should change in the new media environment. For some academics and marketing managers of luxury brands, this paper can provide some theoretical basis and is of great reference for changing marketing strategies.