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In the high-end sporting goods market, as of November 26, 2014, at 2:11 PM, a deeper examination revealed that despite the growing competition, this segment still follows the same promotional tactics used in the mid- and low-end markets. These include discounts, bundled sales, and on-site promotions. However, these traditional marketing strategies have not resonated well with high-end customers, leading to limited success. Price promotions, in particular, fail to deliver the expected impact in this sector, causing confusion among industry players.
This lack of effectiveness has created a clear bottleneck in the high-end sports product market. Are the preferences of high-end customers truly different from those of other segments? The reduced price sensitivity isn’t due to lower prices but rather to the nature of the products themselves. If price-based promotions don’t work, what alternative strategies can manufacturers and distributors adopt? How effective are they?
Since the 1990s, customer value has been a central concept in management studies. Scholars like Parasuraman have explored its drivers, emphasizing factors such as product quality, service quality, and price. Others, like Fan Xiucheng, highlight the role of brand identity in reducing purchase risk and building consumer confidence. While interpretations vary, they all focus on how value is derived from both the product and the emotional or functional benefits it offers.
Understanding customer value is essential for effective market segmentation. Haley introduced the idea that market segments form based on customer value preferences, which drive purchasing decisions. In China, researchers have adapted this approach, focusing on local consumer behaviors. For example, Liang Jiangchuan segmented tourists based on their interests, applying this to luxury hot spring resorts.
Applying customer value theory to the sporting goods market is crucial as consumer demands become more diverse. Even within the same product category, people choose differently based on their values. A consumer-oriented approach requires understanding what benefits customers seek from sports products and services to identify and target the right segments.
In the high-end market, where consumers come from varied economic, cultural, and personal backgrounds, identifying their value preferences is key. Only by aligning products and services with these preferences can companies build long-term loyalty and gain a competitive edge. This study explores the composition of customer value in the high-end sporting goods market, analyzes the market based on these factors, and proposes targeted marketing strategies for this segment.