Construction of the Luxury Marketing Model Based on Machine Learning Classification Algorithm

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 c...

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Bibliographic Details
Published in:Scientific programming Vol. 2021; pp. 1 - 11
Main Authors: Chen, Qiaoshan, Cai, Shousong, Gu, Xiaomin
Format: Journal Article
Language:English
Published: New York Hindawi 19.10.2021
John Wiley & Sons, Inc
Subjects:
Accuracy
Algorithms
Behavior
Buying
Classification
Consumers
Consumption
Cosmetics
Data mining
Datasets
Decision making
Decision trees
Jewelry
Machine learning
Marketing
Mathematical models
Neural networks
Sample size
China
ISSN:1058-9244, 1875-919X
Online Access:Get full text
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Summary: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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ISSN:1058-9244
1875-919X
DOI:10.1155/2021/6511552