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Luxary Brands

A luxury brand is a brand whose products are predominantly luxury goods and are associated with luxury, high price, and high quality. A luxury brand forms opinions based on customer experiences and its messaging. Luxury brands are expensive because they produce limited quantities, which drives up costs and prices. Consumers are willing to pay more for luxury goods because they equate high prices with high quality and want to buy into the brand story. The primary focus of luxury brand management is to continue creating memorable experiences for customers through marketing, product placement, and analyzing the brand-customer relationship.

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Raman Kulkarni
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140 views34 pages

Luxary Brands

A luxury brand is a brand whose products are predominantly luxury goods and are associated with luxury, high price, and high quality. A luxury brand forms opinions based on customer experiences and its messaging. Luxury brands are expensive because they produce limited quantities, which drives up costs and prices. Consumers are willing to pay more for luxury goods because they equate high prices with high quality and want to buy into the brand story. The primary focus of luxury brand management is to continue creating memorable experiences for customers through marketing, product placement, and analyzing the brand-customer relationship.

Uploaded by

Raman Kulkarni
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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What is luxury Brand?

 luxury brand or prestige brand is a brand for


which a majority of its products
are luxury goods. It may also include
certain brands whose names are associated
with luxury, high price, or high quality, though
few, if any, of their goods are currently
considered luxury goods.
What Makes a Luxury Brand?

 A client forms an opinion about a company


based on the experiences it makes with a
certain brand and the message it delivers.
For example, if the company promises high
quality products and demands a higher price
for a superior product, but the customer
service lacks quality, it is a misfit
Why Luxury Brands are so expensive?

 Brands don't mass-produce. They'll make 100


garments instead of 1,000, which drives both
the cost and the retail prices up. ... When it's
all said and done, high fashion prices can be so
expensive because that's what shoppers want to
pay for it. Consumers will always equate cost to
quality.
Why buy Luxury products?

Luxury Products:
 Can help consumers manage stress
 Customers a feeling of happiness and
accomplishment
 Consumers are essentially buying the story

 Luxury satisfies an emotional need


What is a Fashion Brand?

 Fashion brand is a retail or wholesale setup


which sells pret-a-porter (ready-to-wear)
clothing or accessories,

 Whereas Fashion Label is basically a setup


run or founded by a Fashion Designer and
mostly caters clients with customisable
garments, i.e. made-to-measure, this
feature is not available with a fashion brand,
 In the fashion and luxury industries, selling a

lifestyle and tapping into the aspirations and

dreams of consumers can be as significant a

motivation to purchase as product innovation

and quality. As a result, marketing has long

been a fundamental cornerstone of any modern

fashion or luxury business.


 The primary focus of luxury brand
management is to continue creating
memorable experiences. 

 Experts in luxury brand management are


aware of the product placement, and they
know the role they have in the market.
They also analyze the brand's relationship
with the customer.
 Tasks of a manager of a luxury brand also
include attracting and retaining consumers and
improving the organizational and practical
management of the brand. 

 Analyzing the target audience and marketing,


coupled with research on the way luxury brands
interpret their brand positioning; result in a firm
basis for the development of a brand strategy.
 Luxury isn’t only about consumption of a brand;
it's the excellence, story, and the heritage of
the brand as well. Companies, by providing
intangible values and deeper meanings to their
audience have been able to add more to their
services and products. 
 The industry has often been linked with the
desire of expressing a person's status.
Previously, it had been associated with
physical goods; however, today it's more
about unique experiences. 
 The primary focus of luxury brand
management is to continue creating
memorable experiences. 

 Experts in luxury brand management are


aware of the product placement, and they
know the role they have in the market.
They also analyze the brand's relationship
with the customer.

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