Product strategy and pricing research of the luxury companies： Considering the characteristics of consumers in the new era

Based on the research background of the oligopoly market, status utility was applied to luxury goods customization and the pricing of different products (standard and customization) in the luxury market was studied and a comparative analysis of four different product strategies was given. Four product strategies was proposed: ①product strategy with only pure-standard products, ②product strategy with customized products, ③multi product strategy that consumers can not freely choose the customization, ④multi product strategy that consumers can freely choose the customization. For these four strategies, the optimal pricing of different product strategies and the optimal decision of the company’s different production costs were explored, which led to the following conclusions: first, the effect of status utility on the pricing of customized products is more important than that of standard products; second, based on the comparative analysis of profits, the optimal choice of product strategy is given, and the choice of the company’s product strategy depends on the flexibility of production. In the expansion research, some profit analysis under the competitive market was discussed for the pure standard product strategy.