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Luxury Brands


Submitted By Gulkhan
Words 1966
Pages 8



Thesis submitted to the Lahore School of Economics in partial fulfillment of the requirements for the degree of [MBA] | [2013] |

[Word count]

Supervised by: [Ms. SHAMILA KHAN]

1. Introduction
The luxury market is a high revenue market across the globe and is continuous on rise. This rise can be increased through expansion for the existing and new brands. This industry is a high value-added industry based on high brand assets. The number of customers for this industry can be increased through specially designed social media marketing techniques. There are great opportunities in emerging markets such as China, India and the Middle East for the luxury brands, so the expansion can be done in these markets. Right now, Luxury brands cannot rely only on strong brand assets and hence secure regular customers. The entrance of new brands follows heated competition and hence signals unforeseen changes in the market dynamics.
The global economic downturn has forced the luxury brands to change the business models. The brands cannot rely only on brand symbol and consideration of other factors like brand legacy, quality, esthetic value, and trustworthy customer relationships is necessary in order to succeed. The success element for the companies is that they have to provide value in every possible way.
Luxury brands have skewed their eyes toward social media marketing to compose customer assets through better communication with consumers. Social Media Marketing such as Twitter, Facebook, and YouTube has already been evaluated as business take-off tools for luxury fashion brands. Designer houses such as Louis Vuitton provide live broadcasting fashion shows on their blogs. Ralph Lauren, Chanel, and Gucci have worked with Apple to create iPhone applications.

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