Choice Decisions toward Luxury Goods of the Young Consumers in Wuhan,China

Abstract

The objectives of this study are to study choice decisions toward luxury goods of the young consumers in Wuhan, China, and the independent variables which include product, price, place, promotion, people, process, physical, brand, psychological factors and cultural factors. The closed ended questionnaire was used to collect data and the content validity was 0.89 and 400 participants were asked to fill out questionnaire. The questionnaire surveys were distributed face to face in Wuhan from 1st July 2018 to 15th July 2018. Random sampling method was used to collect data. The statistical methods were categorized into multinomial logistic regression, cross tabulation method and influential statistic methods. The result found that all factors consist of 7Ps in marketing mix, psychological factors and cultural factors significantly influence choice decisions toward luxury goods of the young consumers in Wuhan, China.