Exploring the elements that constitute the perceived luxuriousness of a brand, this book addresses the changing definitions of the term ‘luxury’ in today’s world. Taking the approach that the concept of luxury evolves from the consumer, the author introduces a conceptual model which explains how the consumer interprets the luxuriousness of a brand. This innovative study analyses the key elements that influence luxury branding, such as extended product, perceived uniqueness, authenticity and context specificity. By critically reflecting on the existing definitions of luxury and its challenges, this book makes a unique contribution to research and an essential read for marketing students and scholars.
Examines the concept of luxury and its meaning across tourism, events and hospitality globally. Packed with case studies, it’s a challenging and innovative text that investigates how the idea of luxury is changing in response to a variety factors, such as social change, technological innovation and the challenge of sustainability.
Using concepts from semiotics, psychoanalytic theory, sociology, and Marxism, this book analyzes the role of luxury in American consumer culture. It offers case studies that deal with how our love of luxury affects our choices of automobiles, homes, restaurants, cruises, department stores, and hotels. It also adopts a global perspective and features analyses of luxury in China, Iran, Germany, Monaco, Russia, and Turkey by scholars from those countries.
What does luxury value mean? What constitutes luxury, and what does not? While previous research has focused on luxury as a global business and how companies have generated, communicated and monetized luxury, this book draws on empirical research to examine how consumers understand and interact with it. It identifies the components of luxury value, as seen by consumers, and the most influential factors that shape these perceptions. Drawing on a range of disciplinary approaches, the author investigates how consumer segments differ in their perception of luxury products, and how different generations understand value. A comprehensive overview of consumer perceptions of luxury, this book is a must-read for those students and researchers interested in luxury studies.
Pricing is about deciding your market position whereas revenue management is the strategic and tactical decisions firms take in order to optimize revenues and profits. This book offers insights into research, theories, applications and innovations and how to makes these work in different industries.
The luxury market has transformed from its traditional conspicuous consumption model to a new experiential luxury sensibility that is marked by a change in how consumers define luxury. In a global context, it is crucial to understand why consumers buy luxury, what they believe luxury is, and how their perception of luxury value impacts their buying behavior. This handbook aims to provide a holistic approach to luxury marketing with respect to the characteristics and the key challenges and opportunities of luxury brand management. Therefore, the multifaceted contributions by authors from different parts of the world will offer both a research and management perspective of luxury marketing and deliver a concentrated body of knowledge with contributions from diverse elements.
Luxury is as old as humankind and has sparked multiple debates throughout of history. In today’s consumer society, luxury brands have become aspirational symbols. Yet, to date, a comprehensive overview of the different perspectives that have shaped the discourses about luxury is missing. Hannes Gurzki provides a broad overview of luxury research, highlights and details important perspectives on luxury, and derives practical guidelines for managers based on research. Thereby the author combines insights from different disciplines, such as philosophy, sociology, psychology, anthropology, cultural studies, economics or management, to broaden and deepen our understanding of luxury and its creation principles.
An exploration of the many issues and debates that surround the idea of luxury. The idea of luxury has secured a place in contemporary Western culture and the term has now joined common parlance in both established and emerging economies. Crafting Luxury explores contentious issues surrounding perceptions of luxury, its relationship to contemporary branding as created by marketers, and the effect this has on consumers and their purchasing habits. It examines the industry structures, analyzing production practices as well as the effects of hierarchies on both internal and external perceptions of luxury, from the makers to the sellers and consumers. Offering different perspectives and interpretations of luxury, the authors dissect the work of companies across the industry, from established companies to emerging models and from conglomerates to small independents. They further explore the impact of technology on consumption, manufacture, the retail environment, and sales, providing a true insider's view of this complex world.
This professional book introduces marketing and luxury brand professionals to a new definition of luxury and the art of designing the ultimate luxury experience in both the physical space (e.g., in-store, hotel, restaurant) and the digital space (e.g., social media, website, e-commerce). Specifically, it offers an overview of customer experience issues and explores big five experiential strategies that can be applied by luxury houses in order to provide the best luxury experience to their customers. Themes such as quality of customer luxury experience, immersion and co-production/co-creation in luxury, creation and management, digital and immersive marketing, and innovative market research are also examined. How do consumers define luxury? Is there one luxury or several “luxuries”? What kind of luxury experiences consumers want to live? How can luxury houses design the ultimate luxury experience? More than in any other sector, luxury consumption is a response to a search for emotions, pleasure, uniqueness, consideration and greatest services. The luxury consumer wants to live luxury experiences – not just buy luxury products or services. In this way, this book presents the luxury consumption experience as a combination of symbolic meaning, subconscious processes and nonverbal cues and characterized by fantasies, feelings and fun. Featuring case studies and interviews from international luxury sectors and brand managers such as Burberry, Dior, Porsche, Breitling, St. Regis Hotels & Resorts, and Louis Vuitton, among others, this book offers both a research and management perspective on luxury experience to professionals in the luxury sector (e.g., CEOs, brand managers, marketing and communication professionals), as well as marketing professors, students, and people eager to learn more about how to design the ultimate luxury experience. Praise for The New Luxury Experience “This book provides a holistic perspective on marketing of luxury brands, offering both useful practical advice as well as illustrating important cases.” -- Ravi Dhar, Director, Yale Center for Customer Insights, Yale University “Wided Batat’s book offers a fresh, insightful and comprehensive analysis of the concept of the consumer’s experience with luxury whatever that may be. The Five experiential luxury strategies proposed by Wided highlight that luxury management should go above and beyond the design and branding of luxury goods and services. I also commend the consideration given to the younger generations’ approach to luxury and to corporate social responsibility aspects. Luxury marketers should find this book very useful indeed.” -- Francesca Dall’Olmo Riley, Professor of Brand Management, Kingston Business School, UK
