Marketing for Luxury Products - MK 439

Course Objectives

This course has been designed to develop an understanding of different aspects of the luxury & prestige industry
in the global market perspective. It also examines unique characteristics of luxury products and the way
they are manifested in a multi-facet dimension in the market and how their market approaches
differ from that of the commodity goods. This course deals with the key activities: design, branding,
communication, distribution, after-sales, legal issues and managerial aspects relating to the luxury brand products & services

Course Content

An introduction to the luxury & prestige industry.
Characteristics of a luxury brand; luxury brand values.
Managing luxury brand marketing mix strategies:
Product design, development, packaging, branding & brand extension in global market.
Pricing luxury products.
Distribution: selective retailing, merchandising, licensing, locations of fashion market.
Advertising, promoting, Publicity, celebrity endorsements in luxury products.
Luxury consumers' attitudes & their buying behavior.
The evolving luxury market place and the changing luxury consumers.
Democratization of luxury brands..
Managing key sectors in the luxury brands: perfumes & cosmetics, wines & sprits,
watches & jewelry, tourism & hospitality, automotives industry etc.
Managing a fashion apparel: haute-couture, prêt-à-porter, leather goods & accessories.
Luxury brand industry and internet.
Struggle against counterfeit goods, intellectual property rights,& ethical aspects.
The loyalty effect: Strategies for improving customer retention.

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Syllabus