Macro Economy and luxury markets

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Notions and standards of Luxury

Understand and learn the latest trends in Luxury industry

The international luxury markets

Cases study on different countries

 

What is the behavior of a High end Customer?

 

Different categories of customer : Affluent, HNWI, UHNWI

Approach of the high end customer through x profiling methods

How to handle a high profile customer with practical NLP techniques

How to adjust your sales speech to take in account the cultural differences of your clients  (uniqueness?)

Role play and cases study These sessions will investigate the dynamics of Luxury Consumer Behavior in order to highlight how clients make decisions in the luxury sector. Similarities and differences in behavior between consumers from a variety of cultures (international and Chinese) will be highlighted.

 

Psychological perspective: How do luxury products relate to the personality and the values of the consumer? How do the consumers express their selves through luxury consumption? How do they perceive luxury products? How might emotions influence consumers’ rationality?

 

Sociological perspective: How do reference groups (membership and aspirational) influence consumers decisions? The influence of lifestyles and subcultures on the purchase of luxury products, for instance male vs. female behaviors, the behavior of teens, generation Y, generation X, baby boomers etc.

 

Cross-cultural perspective: Explaining Asia’s love affair with luxury products; inside the mind of the Chinese, American and European consumer; the concept of face and its influence on Asiatic luxury consumers; self-gifting and gift-giving rituals in different cultures.

 

 Dark side of consumer behavior: beyond money, understanding the purchase of counterfeits; specific addictive behaviors such as compulsive buying. 

 

 

General knowledge

 

This course aims to improve the students general knowledge in a wide array of topics in order to be able to deal with well-educated and cultured people.

 

Art History : Sculpture, painting, music, litterature

World life : Sports, Geography, history, International relations

Stars and influential people in the world (Business, Art, Politics, Sports…)

Events to know (Nobel prizes, Person of the year, Arts events, Davos…)

 

Luxury Industry knowledge

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These sessions will offer an overview of the different luxury sectors. It will provide highlights from a variety of perspectives.

 

Historical perspective: Luxury creation and consumption over time histoire du parfum et du cinéma, histoire de l’art, histoire du design, histoire de la mode

Economic perspective: The main sectors, the major players and their strategies

Human perspective: The luxury clientele, the different luxury consumer segments, Western and Eastern geographic profiles

Cultural perspective: The perception of luxury between Western and Eastern cultures

Knowledge of Luxury Materials

 

Marketing fundamentals in Luxury industry

 

7 Ps of  Services Marketing

International marketing strategy

Luxury marketing in different fields such as cosmetics, perfumes, accessories, High Tech Communication, Advertisement creation and creativity

Public relations and Luxury

 

Branding in  Luxury industry

 

These sessions will cover the most important techniques and methods used to create and maintain brand equity in the Luxury domain in order to understand the specificities attached to Luxury brands. Examples will be drawn from a variety of international brands as well as Chinese brands in diverse luxury sectors.

 

Creating and maintaining Brand Equity in the Luxury sector: Main characteristics of Luxury brands; Specificities of Luxury brands DNA; Developing brand value and brand equity

 

Creating and maintaining balanced Brand Portfolios in the Luxury sector : Brand roles in a brand portfolio; Specificities of Luxury brand extensions; Co-branding and  other marketing alliances; Managing Luxury Brand Lifecycle: Launching brands or products? Revitalizing existing brands; Globalization and Luxury Branding

 

Communicating the Luxury brand value: Advertising and promotional techniques in the Luxury sector; Emotional appeals; Celebrity endorsement.

 

New challenges for Luxury brands: Protecting Luxury brands from counterfeiting activities; The risk of pauperization: the masstige effects; Ethical challenges

 

 

 

 

Luxury selling and distribution management

 

 

These sessions will concentrate on the Luxury purchasing experience

 

Distribution Management: overview of distribution channels in the Luxury sectors (including internet); Management of a boutique; Examples of corners in department stores over the world; Focus on China’s Luxury Retailing industry

 

Selling Luxury products: Which specific sales techniques might be used in the Luxury sector?; Affluent consumers needs and behaviors in a retail setting.

 

Servicing in a luxury sector: Expectations and perceptions of consumers regarding a Luxury service scape; Employees and customers roles in service delivery; Building customer relationships; service recovery

 

Creating a Luxury atmosphere: How sensory factors such as music, colors, smell, temperature, and lighting might influence the perception of luxury products and the luxury shopping experience?

 

 

 

Luxury, digital strategy & selling in the Metaverse

 

Management of your brand on the web and in the social networks, digital marketing strategy on a global scale

Online luxury store management : how to make the online experience as rewarding as a walk in the store

Targeting customers online

Influence of internet on rich customers

 

Luxury Industry Legal issues

 

International laws

Patents protection

Design and brand protection

Business Ethics