Full Description
This textbook discusses luxury marketing management, considering the broader range of decisions related to the complexities of offering luxury as services. Placing a strong emphasis on strategy as well as positioning and the market, it focuses on the challenges in luxury related to the traditional 4 Ps (Products, Place, Promotion and Price), in addition applying the service-dominant logic to luxury management in relation to the other 4 Ps in marketing decisions (People, Process, Panorama, and Productivity).
The text opens with an exploration the history and evolution of the concept and definition of luxury and the effect upon the practice of luxury marketing today, concluding with an overview of the contemporary luxury market, description of the main players, and relevant industry trends. It then discusses marketing strategies as applied to the luxury market, including market identification, brand communication, product positioning, pricing, flow of goods, foreign market entry, and more.
With contributions from luxury marketing practitioners to offer practical knowledge as well as real world cases studies, this textbook will equip students with a comprehensive understanding of marketing in the luxury industry and the tools necessary to be successful in the management of luxury brands.
Contents
1. History and concept of luxury.- 2. The luxury market.- 3. Luxury market and the Service-dominant logic paradigm.- 4. How to position a luxury product.- 5. Luxury consumer behavior.- 6. Defining the Persona: Segmentation and targeting.- 7. Developing strong luxury brands for products and services.- 8. Creating competitive products.- 9. Place strategies for luxury brands.- 10. Managing pricing and value of luxury brands.- 11. Communication strategies and tools for luxury brands.- 12. Managing people for the luxury market.- 13. Process management and operations for luxury brands.- 14. Managing the luxury Panorama for great experiences.- 15. Strategical Satisfaction Management.- 16. Culture and leadership
