The specificity of luxury management: Turning marketing upside down

Abstract

International audienceToday luxury is everywhere. Everybody wants his products to be luxury. The concept of luxury is attractive and fashionable. There are luxury columns in all magazines and journals. There are TV shows on the business of luxury, and on luxury products and services. Even mass-consumption brands name many of their models " Deluxe" or qualify their experience as luxurious. New words have been recently invented and promoted that add to the complexity: masstige, opuluxe, premium, ultra-premium, trading up, hyperluxury, real or true luxury, and so on. There is a confusion today about what really makes a luxury product, a luxury brand or a luxury company. Managing implies clear concepts and, beyond these concepts, clear business approaches and pragmatic rules. The aim of this paper is to unveil the specifi city of management of luxury brands. Going back to fundamentals, one needs to distinguish it strongly from both fashion and premium or " trading up ". From this starting point, it sets out some of the counter-intuitive rules for successfully marketing luxury goods and services

They are not all same: variations in Asian consumers’ value perceptions of luxury brands

“…The symbolic association driving a brand choice can send significantly meaningful signals to other consumers about the type of person using that brand (Kapferer and Bastien 2009;Han et al 2010;Berger and Ward 2010). It is widely accepted that people make inferences about others, based on their choices of consumption objects (Belk 1988).…”

“…Additionally, it has been observed that consumers in the developed Western markets use their symbolic possessions such as luxury brands to extend, expand and strengthen their sense of self (Belk 1988;Kapferer and Bastien 2009). Using the context of privately consumed inconspicuous food products, Zhou and Hui (2003) find the increasing importance of self-directed symbolism among Chinese consumers.…”

“…Luxury goods are often acquired according to what they mean to the members of social reference group (Kapferer and Bastien 2009;Shukla 2011). Moreover, prior studies observe that luxury brands are not only used for fitting in with reference groups, but are also used for standing out (Han et al 2010;Berger and Ward 2010).…”

What Drives Sustainable Luxury Consumption in a Status Driven Society Like India?

“…Some brands are viewed as cheap and in expensive, while others are viewed as a better quality and expensive Kapferer [8]. In their research, Cervellon & Shammas [1] show that luxury brands these days are complimentary with sustainability through ethos (e.g., eco-brands such as Stella McCartney (Kering/PPR) or Edun (LVMH) in luxury fashion or Tesla Roadsters and Venturi luxury cars), commitment all along the supply chain (Gucci group,LVMH, Porsche) and/or introduction of eco-collection and eco-lines (BMWi3 electric cars, Vranken-Pommery Pop Earth Champagne, Issey Miyake 132.5 origami design collection, Gucci sunglasses made out of liquid wood produced from sustainably managed forests).…”

Avaliação de Marcas de Luxo: Um Estudo Experimental com Dois Fatores Moderadores

“…O papel da propaganda, por exemplo, não é necessariamente estimular a venda direta para o público em geral, mas sim tentar estimular o desejo, tanto dentro quanto fora de seu target (Kapferer & Bastien, 2009a;Kapferer & Vincent, 2009b;Kapferer & Valette Florence, 2016).…”