Luxury Brands Management gr.1

Pedagogical contribution of the course to the program

No educational contribution associated with this course for this program.

Description

This course explores the specificities of marketing and business in the luxury products and services sector. The luxury industry is unlike any other. The creation, development and management of a strong brand is a challenge in general, but this challenge is particularly complex in the international market for luxury products, where the brand identity and its image have a dramatic impact on the purchase decision. This course provides a very deep exploration of the concepts and practices that apply to luxury markets. On the supply side luxury encompasses a broad range of players and sectors - from hotels to real estate, fine wine to fine art, antiques to jewelry, to name just a few. On the market side, luxury consumers are extremely demanding. Luxury goods and services must not only be of exceptional quality but also provide a complex set of functional, social and emotional benefits to consumers. The objective of the course is to equip future managers with the ability to face the challenges and also take full advantage of the opportunities existing in luxury goods and services markets. Most of the knowledge in this category of products is indeed also transferable to many other categories of products. The course is organized around four major themes: - First, it provides an overview of the market and the management of luxury brands based on the history of this industry, consumer psychology, and the current business model in this market. This step allows to build a global and international vision of the luxury products industry, its evolution and its marketing practices. - It then offers a set of tools used by brand managers for effective luxury brand management and optimal business modeling. - Third, the course allows to identify the new challenges of luxury brands, from a holistic perspective, including ethical issues, brand imitation or the issue of country-of-origin - Finally, the course focuses on the challenges facing the luxury industry from a societal perspective and discusses the evolution of luxury towards experiences and services. The course combines the most recent brand management knowledge with practical application and develops a framework for understanding the essential ingredients of effective marketing of luxury brands.

Teaching methods

Learning objectives

---

Outline

Session 1: The market and players Session 2: How to define luxury? Session 3: The DNA of luxury brands Session 4: A segmentation of luxury goods and services customers Session 5: let's create or revive a luxury brand Session 6: the luxury business model Session 7: Luxury brands' territory and the passing of time Session 8: the servicization of luxury Session 9: Luxury challenges to come

No prerequisite has been provided

Knowledge in / Key concepts to master

There is no need for any specific pre-requisite courses, although previous attendance to one or more classical marketing courses (such as Consumer Behaviour, Marketing Research, Fundamentals of Marketing) might be helpful

Recommended reading

---

---

Assessment

List of assessment methods

No assessment methods have been attributed to this course yet.