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Construction of the Luxury Marketing Model Based on Machine Learning Classification Algorithm
Author(s) -
Qiaoshan Chen,
Shousong Cai,
Xiaomin Gu
Publication year - 2021
Publication title -
scientific programming
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.269
H-Index - 36
eISSN - 1875-919X
pISSN - 1058-9244
DOI - 10.1155/2021/6511552
Subject(s) - marketing , clothing , luxury goods , business , marketing strategy , population , consumption (sociology) , marketing mix , advertising , demography , archaeology , sociology , history , social science
China has become the world’s largest luxury goods consumer market due to its population base. In view of the bright prospects of the luxury consumer market, major companies have entered and want to get a share. For the luxury goods industry, traditional mass marketing methods are not able to serve corporate sales and marketing strategies more effectively, and targeted marketing is clearly much more efficient than randomized marketing. Therefore, in this paper, based on consumer buying habits and characteristics data of luxury goods, the paper uses a machine learning algorithm to build a personalized marketing strategy model. And the paper uses historical data to model and form deductions to predict the purchase demand of each consumer and evaluate the possibility of customers buying different goods, including cosmetics, jewelry, and clothing.

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