Introduction to Luxury Brand Management
What you'll learn
- Understand what is a luxury brand and how it is different from a mass brand
- Know 5 types of luxury brands consumers
- Define 7P of Marketing Mix and how luxury brands adapt to them
- Name core trends influencing luxury industry and their consequences for luxury brands
- Name core luxury brands in fashion, cosmetics and other industries
- Give real-live examples from the luxury industry to all of the above points
Requirements
- No particular experience/knowledge is needed to take this coourse. Basic marketing knowledge wil be helpful but is not a must.
Description
Have you ever thought what makes luxury products so different from others? What does it take to be a luxury brand? What are the motivations for consumers to buy luxury products? How is luxury changing in this modern, post-pandemic world? How do new technologies and growing consumer scrutiny influence the luxury and premium brands?
We will answer those and many other questions during the course of Introduction to Luxury Brand Management. The course is divided into three parts (Introduction to Luxury, Luxury Marketing and Market trends) and includes dozens of real examples from the world of luxury.
First we will understand what luxury is all about, what it can mean and why is it so difficult to define. We will also speak about key players in the luxury sector worth 300 billion dollars to understand better the industry.
In the second part of the course we will look closely at consumers of luxury brands – their purchase behaviour, which dives into how they shop as well as how much they spend and their preferences for certain products, services and brands. We will also define what are the different motivations to buy luxury products.
Than we will move on to marketing mix - 7 elements of a marketing strategy that need to be develop while managing a luxury product/brand/services. We will analyze each of 7 Ps from the perspective of a luxury brand and consumers’ expectations.
In the third part of the course we will deep dive into trends emerging in the luxury sector. We will define where they come from, how they co-exist in the market and what is the response of luxury brands for such changes.
During the course you will also receive recommendations of reading, movies and websites to follow to further broaden your knowledge on the subject after the course.
To keep it short, after completing this course you will understand what the luxury brands are all about and what are the market trends they will need to adapt to in the near future.
Please not that this course is an introductory course, it does not include activities to be done by students.
Who this course is for:
- People passionate about premium and luxury brands
- People planning to set up their own premium/luxury brand
- People interested in new consumer trends
- Management students and graduates (including those considering career in premium/luxury sector)
- Fashion and design students/designers wanting to broaden their marketing knowledge
- Marketing specialists
- Medium-level managers
- Brand/Marketing managers looking for inspiration about brand&marketing strategies
Instructor
- 4.1 Instructor Rating
- 103 Reviews
- 311 Students
- 1 Course
Marketing Manager passionate about premium and luxury brands. 12-years experience in Marketing and Brand Management with focus on working with unique international brands and their adaptation to the local market. My passion for luxury sector started during my internship at LVMH Watches and Jewellery in London, since then I have developed my career in premium&luxury consumer products working for L'Oreal Luxe, Sisley Paris and Nespresso.