Strategic Management of Luxury Business – Managing Luxury Products Services From Concept to Consumer
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India and China are turning out to be the biggest luxury brand markets in Asia. Indians are steadily acquiring means and taste for luxury. We intend to examine the major future trends that will shape the evolution of the luxury business especially with the revival of haute couture in India where the desire to make grandstatements is high.
New product and service categories have been a significant part of key growth strategy. Technology, especially on person technology-smart phones, ipads, tablet PCs, expensive items that make a personal statement - are new areas of luxury branding.
This programme will enhance understanding necessary to manage luxury products and services.
- It is a program which will address industry trends in luxury products and services and will offer better appreciation of the consumer of luxury and buyer behaviour.
- The goal is to impart concepts relating to value chain of luxury, pricing decisions and managing the profit potential of luxury.
- This is not about learning mere concepts but about understanding how to make business decisions relating to creating a luxury brand, differences that exist in managing luxury products and services and execution of a luxury brand, managing channels – direct, joint Ventures or franchise, managing luxury supply chains, licensing and demand management.
- Industry Trends: Differentiating luxury from ‘non’ luxury
- The luxury experience
- Consumer buyer behaviour of luxury
- Understanding value chain of luxury
- Understanding pricing and profit potential of luxury
- Creating a luxury brand
- Differences in managing products, services, and categories
- Developing a concept of a luxury brand
- Execution of a luxury brand
- Managing a luxury brand
- Brand extensions in luxury
- Managing portfolio of luxury brands
- Reinvention of luxury brands
- Globalization of luxury business
- Managing channels – direct, JVs, or franchise?
- Managing luxury supply chains, licensing, and demand management
- Acquiring local brands/integration with global portfolios
- Managing luxury products and services effectively
- Making better pricing decisions and managing the profit potential of luxury
- Creating and sustaining a luxury brand and managing Channels
Who should attend
- Entrepreneurs and CEOs of new luxury businesses
- GMs / profit centre managers of international luxury businesses
- Designers looking to create luxury brands
- Managers of luxury franchise businesses
- Suppliers of products / services to international luxury businesses
- Marketing managers of luxury brands
- Advertising agency executives of luxury brands