Research on the Veblen Effect and Marketing Strategy of China's Sports Marke

Abstract

In order to study the Veblen effect of china's sports market and solve the problem of marketing of sports luxuries, law of demand and Veblen conspicuous consumption theory are applied to explain the price of conspicuous consumption and positive relevant disciplines of its demand and analyze the Veblen effect of China's sports market so as to establish preferences factor model of sports luxuries consumption in china and propose the marketing strategy of sports luxuries. Firstly to analyze the demanding curve of conspicuous commodity and different display of demanding curve of general commodities; then by analyzing the sports luxuries market in china and establishing factor model based on the social-oriented factor, self-orientation factor and commodity brand orientation factor; and finally presents a series of marketing strategy involving in popularizing professional knowledge, utilizing high price, establishing emotional bond and expanding high-end costumed group. With the development of social progress and sports economy in china, people's outlook on value and way of consumption and leisurely life are changing. With the continuous increase of national economy, people's income is increasing and most of the consumers like to change the enjoyment to the quality of life and health due to driven by the preference of consumption and also to buy more high level commodities. Presently china's sports commodities have accessed to an important and high speed development era and people's demanding structure is involving in the demanding of sports products and people like to participate in the sports activities and purchase the sports products and to watch the sports competitions and all these become one of the enjoyable consumption among those and sports luxuries becomes an essential components. Now, consumers' demand of sports luxuries is escalating and buy high price sports luxuries to meet ones emotional appeals and to show the personality taste and achieve the self-recognition compared with the western sports luxuries (1), Chinese consumers attach i mportant to conspicuous value of luxuries, even the consumers with less purchasing power are willing to spend more money on luxuries and this causes the market of conspicuous consumption more active and dynamic (2). Under this background, more and more limit e dition(such as Jordan 23 issued by Nike)which with elite special design and more memorable sports luxuries, such kinds of limited edition is emerging in the market and deeply loved and envied by the consumers (3).