...Relationship Marketing (CRM) on the consumer behavior in the luxury retail market of UK. Abstract Customer relation marketing (CRM) is a strategic process of business in which the relationship of client, the loyalty of customers and brand value are built through the marketing activities and strategies. Customer relation marketing has allowed luxury retail market in the United Kingdom to develop long-term relationships with new and established customers while helping in the streamline corporate performance. Customer relationship marketing is a new completive weapon for the luxury market products in the United Kingdom. The battle is among corporates and business in the luxury market products a consequence mainly attributed to internet and rise globalization. Organizations that are offering the luxury products to their customers is focusing on conquering the minds of their customers. In this, they make them be loyal brand followers and satisfy their customer needs with the help of customer relation marketing systems. Luxury products and brand have become the new modern cults. Each brand is seeking to attract the largest customer base. The main purpose of writing the dissertation is to carry out a qualitative thematic research and analyses on the impact customer relation marketing in the luxury retail sector in the United Kingdom. The research and analysis will be based on the consumer buying behavior and the luxury retail market success. The paper also evaluates on the awareness...
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...MIDDLESEX DUBAI | Luxury Fashion Industry | ALE 3 Alternative Assessment | | Shaista Rehman – M00223578Said Hayat – M00290099Jad Aoun – M00282219 | April 3, 2011 | A report for MBA4641 – Dr. Cedwyn Fernandes Word Count: 3629 | CONTENTS INTRODUCTION 3 PESTEL ANALYSIS AND THE MAIN CHARACTERISTICS OF THE LUXURY FASHION 4 MARKET SEGMENTATION 8 Haute Couture- Luxury Brand 9 High Fashion - High Cost 10 Exclusive Expensive Haute Couture Fabrics 10 Ready-to-Wear (RTM) - Designer Brands: 11 Diffusion / Designer and Premium Brands 11 Upper Bridge / Premium Brands 11 Mass / Retailers: 12 Segment Analysis: Haute Couture & Ready-to-Wear 12 Buyer’s Power - Moderately Weak 13 Supplier’s Power - Weak 13 New Entrants - Moderately Weak 14 Competition from Substitutes - Weak 14 Rivalry Between Establish Brands - Moderately Strong 15 Conclusion 15 References 17 INTRODUCTION The luxury fashion industry is a global multi-billion dollar business, and employs large numbers of people with different talents and skills to bring luxury style apparel to the customers. The global luxury fashion sector is estimated to be worth US$130 billion and the sector is one of the few industrial segments that have remained a constant world economy contributor with an annual growth rate of approximately 20 per cent (Okonkwo, 2007). Although the fashion industry developed first in Europe and America, today it is an international and highly globalized industry...
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...Keeping Luxury Inaccessible Keeping Luxury Inaccessible By David Ward (PhD), Claudia Chiari (MBA) All correspondence to Prof. David Ward, Via Fornari 46, 20146 Milan, Italy email: daward@tin.it Co-author: Claudia Chiari, Via Vittorio Alfieri 27, 52100, Arezzo, Italy Abstract This paper sets out to explain and decipher luxury and especially inaccessible luxury with the intent to provide enterprises three new analytical tools to ensure they stay ‘in front of the pack’. The paper starts by assessing what luxury was and is today and how and why it has evolved so far. It looks at Mass and Intermediate luxuries and then discusses three models to assess also Inaccessible luxury. The three models specifically developed by the authors are: 1. The Tangibility of Luxury, 2. The Spectrum of Luxury and 3. Brand Identity of Luxury. It will be shown that a luxury product can indeed migrate towards intermediate and mass luxuries when its traits become tangible and when rarity turns into abundance and luxury becomes accessible. The authors promote the idea that this process can be controlled by the enterprise or industry providing the brand, product traits and distribution are managed accordingly. The authors also examine the particular linkage between rational and emotional value through the brand and map the degree of luxury of a brand by assessing what actually differentiates the luxury products from the rest. This is not done in the traditional way of assessing the marketing mix (4P, 6P...
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...paper is to discuss the key strategic issues that LVMH faced in Japan and established some future recommendations that can be implemented in order for LVMH to remain successful in the luxury industry. In order to determine the key strategic issues a number of analysis tools were applied to the case study; they include Porter's 5 forces model and SWOT analysis. Louis Vuitton Moet Hennessy, a luxury goods provider is looking to expand their brand dominance in Japan. In the Japanese, LVMH has to deal with economical and cultural uncertainties, the threat of counterfeit products and the relatively high competition, and finally changing tastes of Japanese consumers. LVMH should use their core competencies and limit their weaknesses to overcome the challenges that face the company in Japan. To face their first challenge of economical and cultural, as well as changing tastes uncertainties, the company can hire new designers to develop Asian inspired products. They could also embed the European way of living into the Asian lifestyle. The challenge of eliminating counterfeit products can be combated by creating a unique shopping experience for LV’s customers, and shutting down large counterfeit operations, by cooperating with Chinese and Korean Government Agencies in reducing counterfeit products. Table of Contents Introduction 4 Weak economy 5 Changing taste 7 Competitors 8 Competition – Porter’s 5 forces analysis 10 Consumer behavior analysis 12 Recommendation...
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...Looking at luxury: consuming luxury fashion in global cities Professor Louise Crewe, University of Nottingham, UK Dr. Amber Martin, Queen Mary University of London, UK 1: Introduction This chapter explores the growth and transformation of the global luxury fashion market focusing specifically on the flagship stores of the largest global luxury fashion organisations.[1] The conceptual basis of the chapter lies in recent debates about global economic austerity and the future of consumption under conditions of precarity. The chapter focuses on the remarkable resilience of the luxury market in the face of global recession and the slow-down in consumer spending. Luxury consumption and passionate investment are argued to provide one means through which the more deleterious effects of the over-consumption of cheap, throwaway, fast fashion can be effaced. The arguments made in the chapter are both theoretically and empirically significant. Firstly, luxury fashion is empirically an important but neglected area of scholarship and one with a pronounced Geography that requires scrutiny. The luxury fashion market is significant not only in terms of its value but also in terms of its rate of growth which has significantly outpaced that of other consumer goods categories over recent decades. The rate of growth has been driven by a variety of factors, including growing concerns over the economic, environmental and social impacts of throwaway fashion, a desire for more responsible investment...
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...study examines why the luxury online shopping industry has not been more successful in today’s highly digital age. A literature review as well as, a self-conducted study will be used to address this question. First, literature is presented on what luxury goods are and what factors motivate people to consume luxury brands. Next, research is used to describe the consumers of luxury shopping online. Following this, the literature review covers three dilemmas when using the Internet to sell luxury brands. The first describes whether or not brand integrity is diluted on the Internet because of the ability for everyone to have access to these luxury products. The second dilemma concerns whether or not the sensory nature of the luxury shopping experience can be translated onto the Internet. And the third deals with the Internet’s inherent ubiquity and whether that compromises the exclusivity of what luxury brands stand for. Finally, existing literature is used to demonstrate how to measure service quality on the Internet as well as propose web site design issues faced by online retailers. The following section, Section V, describes the research method used in this study to explore how well the design of luxury e-stores meets customer expectations, while conveying the luxury consumption factors without the sensory aspects of a traditional store. The results of this study show that luxury e-stores have a long way to go in terms of replicating the sensory luxury shopping experience onto...
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... No. 1; 2012 Luxury Brand Exclusivity Strategies – An Illustration of a Cultural Collaboration Anita Radón, PhD Post Doc. Researcher The Swedish School of Textiles, University of Borås SE-501 90 Borås, Sweden Tel: 46-705-918-306 Received: May 30, 2012 doi:10.5430/jbar.v1n1p106 E-mail: anita.radon@hb.se Online Published: July 16, 2012 Accepted: July 14, 2012 URL: http://dx.doi.org/10.5430/jbar.v1n1p106 This research is supported by Handelns Utvecklingsråd. Abstract This paper examines how luxury fashion brands renew themselves in order to balance the exclusivity that is associated with luxury goods and with profit maximization. Using consumers’ demand theory it is shown how luxury fashion brands go through different phases to renew the perception of exclusivity. A proposed model for the stages a luxury brand goes through to keep up the perception of exclusivity is provided. The focus is on identifying how luxury fashion brands renew themselves in order to create a perception of exclusivity and scarcity. The limitations of the study is that research has yet to be done on how consumers of luxury fashion goods perceive these efforts put forward by luxury fashion brands. Problems associated with luxury fashion brands, theoretically as well as on a practical level, and the crucial need for a perception of exclusivity and how this perception can be maintained are addressed. This paper contributes to the specific, and still limited knowledge on how luxury brands are dynamic...
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...Grenoble Ecole de Management Fashion, Design and Luxury Management 2014 - 2015 Academic Year Question: Why enforcement of IPRs involving fashion, Design, and luxury products is so difficult to achieve? If you were working in the enforcement office of a fashion, design, etc… firm, what would you suggest in terms of enforcement measures? Name: Chengxi WANG Word Count: 1592 While artistic works such as books and music are entitled with delicate protection under IPRs, the situation is quite contrary in the fashion and luxury industry. The counterfeits as well as knock offs are rampant in the market and enormous economic damages are caused to the fashion companies. This essay is dedicated to investigate the reason behind the weak enforcement of IPRs in the industry. In the following paragraphs, the intrinsic nature of fashion and luxury industry as well as the specific legislative seams in the copyright, design patent, trademark and trade dress will be analysed to answer the question. Intrinsically, the lack of intellectual property protection in the fashion and luxury industry accelerates the production and dissemination of creativity. As opposed to the traditional point of view that artists and creators would not have incentives to design and create new works if their intellectual properties are constantly infringed without proper legal legislation and protection, the situation is not applied in the fashion and luxury industry. On the contrary, it is the lack...
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...4 256 The nature of parenting advantage in luxury fashion retailing – the case of Gucci group NV Christopher M. Moore and Grete Birtwistle Division of Marketing, Glasgow Caledonian University, Glasgow, Scotland, UK Abstract Purpose – Examines the application and nature of parenting advantage within the context of luxury fashion conglomerates principally as a means of understanding the synergistic benefits that accrue as a result of brand consolidation within the sector. Design/methodology/approach – Derived from company annual accounts, market analysts’ reports and other secondary sources, the paper delineates and evaluates the ten-year renaissance of Gucci brand from a company on the verge of bankruptcy to its emergence as the world’s second largest luxury group. Findings – Through the identification of intra-business group synergies, it is clear that the transference of brand management expertise and competence is the principal dimension of parenting advantage in the Gucci Group. Originality/value – From an examination of the Gucci Group’s brand management strategy, resource investments and business development activities, the paper proposes a model of the luxury fashion brand. This multi-dimensional model identifies the components of the luxury fashion brand, locates their inter-connections and illustrates how these collectively can provide and sustain advantage within this highly competitive sector. Keywords Fashion industry, Premier brands, Brand awareness Paper type...
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...GIOR GIOR ARMANI 1. Key successful elements Giorgio Armani – One of the most luxury brand has survived over thirty years in the capable hands of its lone founder Giorgio Armani (Roll 2002). The designer fashion brand of Armani is iconic as well as considered superb within the fashion industry well known for its place among the competitors with premier names Chanel, Gucci, Yves St. Laurent and the like. The success of Armani can only be explained by the resonance effects of: * The opportunities come from Hollywood => Attracting and creating a huge trust in many types of customers. * A personal fashion philosophy “ brand of lifestyle” that Armani builder and very successful implementation => Making differentiation compared with others brand * Strategies of expanding market segments. * Utilizing relationships * Distribution => Increasing accessibility to brand => increasing the capable transformed into buying decisions; increasing brand awareness and brand presence. - Firstly, The opportunities come from Hollywood. * "When standing in front of audiences, I always feel not confident enough. But once wore Armani fashion, all those feelings were gone” said by Sophia Loren- The famous actor of Italy has publicly said the feel and this is also the way that the ads could not be effectivetly anymore. * At the show with collection Autumn-Winter 2012 Emporio Armani and 70 supermodels in China. Tina Turner – a famous actor still flying...
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...1 Table of Contents Executive Summary .......................................................................................................1 Coach’s History..............................................................................................................2 Coach’s Current Profile..................................................................................................3 Coach’s Future Plans......................................................................................................3 SWOT Analysis .............................................................................................................4 Global Expansion & Challenges ....................................................................................6 Coach’s Competitors ......................................................................................................9 Industry Analysis ......................................................................................................... 11 Short-Term Recommendations ....................................................................................12 Long-Term Recommendations.....................................................................................13 Conclusion ...................................................................................................................14 Bibliography ................................................................................................................16 ...
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...PUBLIC RELATIONS & EVENTS IN LUXURY Lousi Vuitton CASE STUDY SKEMA BUSINESS SCHOOL LUXURY AND FASHION MANAGEMENT GROUP MEMBERS: Huanping HU Jingcheng LI Mingjun XIE Yuzhu ZHAO Yinghang ZHOU PUBLIC RELATIONS Definition There is not one single generally accepted definition of public relations. Instead, there are many ways to define it. Generally speaking, public relations (PR) is the practice of managing the spread of information between an individual or an organization(such as a business, government agency, or a nonprofit organization) and the public. Significance/Purpose • Significance: public relations possess deep skills in media relations, market positioning and branding. • Purpose: to help companies deliver clear and unambiguous information to a target audience that matters to them event not sometimes. Composition • Public relations work consists of a variety of activities by individuals and organizations intended to promote a positive relationship or image among. General kinds of PR work: Publicity, Event management, Publication design. (Their products are intended to influence public opinion and are designed to promote and protect an individual or organization's image and products.) • Tactics Financial public relations Consumer/lifestyle public relations Crisis communication Internal communications Luxury Brand Government relations Food-centric relations IN LUXURY History of Louis Vuitton • • • • In 1854 it was first...
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... able of Content Title page................................................................................................1 Terms of reference...................................................................................2 Introduction………………………………………………………………….4 Available strategic options…………………………………………………….4 Strategic marketing focus (7p)………………………………………………….5 Company current rapacity—Assets…………………………………………….6 Conclusion………………………………………………………………………6 References……………………………………………………………………7 Introduction Burberry is one of the most representatives of the British brand. Founded by Thomas Burberry in 1856, is a British Royal use brand and it’s also is a luxury brand. Burberry is famous of its coat and Scottish pattern. (Wikipedia) This report will give Burberry Company some suggests for planning to the next strategic review in 2018 that is realistic. Moreover, describing and explaining that plan advantage and disadvantage. Firstly, it will discuss the Burberry company strategic objectives (SMART), give some available strategic and justify reasons. Secondly, it will introduce strategic marketing focus (7p). Thirdly, it will look of asset which is about Burberry company current capacity and give a plan about it. Find some challenges in this plan then give some suggestions. Finally, it will sum up and give some recommendations. Main body Available strategic options Objectives (SMART) Burberry...
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...Overview Burberry is a fashion and luxury company which creation remounts to 1856, when Thomas Burberry opened a draper’s shop in Basingstoke, England. Burberry-lined trench coats, worn by British soldiers in WWI, became a company icon. This brand was highly dependent on licensing and distribution arrangements and had a narrow set of products. Around 1980s the company started making losses because of its old-fashioned products, so in 1997 Rose Marie Bravo assumed the leadership of the company. Bravo and her team had a main objective that was to revitalize the brand, updating the product line, expanding the brand portfolio and creating new advertisement campaigns. Question 1 - Marketing Situation Company: Burberry is a company that nowadays sells a wide range of luxury products; they sell from apparel to accessories as handbags, shoes, hats, ties, and so on, and to licensed products as fragrances or eyewear. The brand is known for its heritage, history and functionality. Burberry wanted to create the image of an accessible luxury. In the 1920s Burberry was introduced as a registered trademark, and was seen as a symbol of luxury and durability, after that by the 1990s Burberry was sold to a British company, Great Universal Stores Plc. (GUS) and by the 1970s GUS management agreed to license the brand in Japan. The product started to grow worldwide, but due to the fact that a wide range of product categories become licensed the products began to vary across markets (price, design...
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...Development Plan for Blanc de Chine To: Lisa Liu, Vice CEO, Blanc de Chine Prepared by: Xiaoxi Zeng Submitted: 9 December 2014 Subject: Recommended strategy to for Blanc de Chine to enhance competitiveness Executive Summary: Luxury brand is regarded as the highest level of prestigious brand. Researchers underscore its intangible value and psychological value, for example: conspicuous value, society value, quality value and uniqueness value. Fashion always associates and integrates the past and the future. Blanc de Chine devoted itself into translating the past Chinese cultural value into modern fashion. Making a comparison among famous luxury brands, we can conclude that even though those companies use different adverting methods, they all try to broadcast their brand culture and concept. Their advertising objectives is in consistent with the researchers’ study. Therefore, the company can make a good use of its Chinese culture background to gain loyal customers. This paper provides with three detailed recommendations: a, culture exploring; b, establishing culture display platform; c, event advertising. Blanc de Chine should make full use of their products’ cultural value and advertise their concept by appropriate methods to gain loyal customer and enhance competitiveness. Table of Contents: I. Introduction and Background.........................................
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