Luxury Marketing

Catalog description

This course is designed to provide students with an understanding of the fundamentals of luxury. When was the concept of luxury first articulated and what did it mean within its various manifestations? How did the products, consumer tastes, material exchanges, and producer strategies evolve through time? What is the state of the luxury industry today and what is at its core? Additionally, students will be introduced to principles of luxury branding, design thinking and how these are used as tools to define luxury business strategies. According to a common dictum, a luxury brand is a bridge between the past and the future. By the end of this course students will have developed: a. An understanding of the luxury segment of the market as it applies to a variety of industries b. The necessary vocabulary to articulate the nuances that differentiate these products and the ability to do so with clarity and precision in terms of technique, design, and materials c. The critical skills to identify potential new luxury products and how they relate to a variety of markets, including emerging markets. d. Analytical skills by hands-on experience and business case analysis, discussion, and presentation e. The critical skills to distinguish/discover faults in business strategies that are not compatible with or contradict the essence of a particular luxury brand.