Luxury Case Study

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Price is no more an indicator of luxury now. It is about how it is perceived in the society and how it demonstrates its social obligations. Luxury always signified “one size that fits all” but not now as luxury brands that so far had to deal with a just uniform group of customers are promptly finding that they have to upheaval and segment far more. The theory that luxury is meant for a slightly older profile wanting eternal classics are getting smashed. The composition of luxury market is changing and to meet such changes such brands need to ladder down to lure its varied customer base as now even customers are ready to experiment. From being “Armani loyalists” they are now ready to switch brands and have widened their horizon of luxury items. …show more content…

Old and young, both people are now becoming more comfortable to the idea of spending money. Even though luxury is always associated with vintage but the younger generation want “cool” and so new and innovative products are launched. As per says Puneet Sewra, Marketing Director, Tag Heuer, India "The younger audience do not appeal to similar looking watches year after year. We have some classic timepieces, but the young want something different”. This led to the company's tie-up with supermodel Cara Delevigne and the creation of an exotic line in black - big black dials studded with black diamonds. .All the brands have magnified their designs to lure more eyes and so it is important for them to target the correct set of people. Not surprisingly, from jewelry makers to hoteliers every brand seems to taste this slice and so is stepping down. Profit of such action is also very visible. On the other hand these brands are also worried of getting localized and so are coming up with limited …show more content…

Social media is like boon for luxury brands as they are mostly based on word of mouth as mass brands define who their customers are and “push” products towards them. For luxury brands, the roles are reversed: consumers must be “pulled” towards the brand with the promise of belonging to an exclusive community. Luxury marketing has always been more personal. Luxury brands can communicate their exclusivity in many different creative ways, driving not only purchases but a deep emotional connection and uniqueness that can last a

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