Abstract:Today, most of the so-called luxury streets are covered with advertisements and stores of the mass fashion brands. On Champs Elysées, next to Louis Vuitton and Cartier are brands like Zara and Naf-Naf. The implication of such a picture triggers much needed changes in the general strategy of the luxury brands in product management and innovation management. Constructing their whole core marketing and branding strategy on appealing to human emotions and psychology, the luxury market focuses on symbolism, rarity,… Show more
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