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The Luxury Marketing Product Manager is responsible for the design and implementation of the marketing strategy for luxury products. He/she must be an expert in branding, communication and marketing.
What does the job of Luxury Marketing Product Manager involve?
The job of Luxury Marketing Product Manager aims to develop the marketing strategy of a product or service. The latter is intended for the luxury market. You will be working on your company’s products and services.
Your role also consists of defining the strategic axes and coordinating the marketing actions carried out around the products. You will also be responsible for the design and launch of new products, as well as market monitoring and competitive intelligence.
What are the main missions of the Luxury Marketing Product Manager?
The luxury marketing product manager is responsible for developing specific offers for the luxury market. He takes care of selling them to the best retailers and customers in the world.
He is responsible for product strategy and development, material selection, design, styling and product features. He also coordinates marketing efforts to ensure consistent messaging and branding.
What training is required to become a Luxury Marketing Product Manager?
To become a product manager in luxury goods marketing, several training courses are available. It is possible to either follow a specialized training in luxury marketing or to train in product management. These courses are offered in major schools, such as IUM and universities.
It is also possible to take online training courses on sites dedicated to continuing education. These courses offer a wide range of options and allow students to acquire in-depth knowledge of luxury marketing and product management.
What is the salary of a Luxury Marketing Product Manager?
As a Luxury Marketing Product Manager, the remuneration is very interesting. The average annual salary for luxury marketing product managers typically ranges from 40,000 to 70,000 euros per year.
In addition, Luxury Marketing Product Managers may also receive bonuses, stock options, more time off and even benefits.
Finally, the salary can also vary depending on the company and the sector you work for. For example, if you work for a large group that owns several different brands, you can easily see your salary increase significantly. Similarly, working in a high-end industry can also mean higher salaries .
What are the essential skills to succeed as a Luxury Marketing Product Manager?
You may already have skills relevant to this position, but it is important to develop them to achieve success in this field. It is essential that you are proficient in key modern tools and media, such as social media advertising and digital marketing in general.
In addition, your analytical and communication skills will be essential to understanding buyer behaviors. They will allow you to communicate clearly and effectively with your team and your customers.
Another important point is negotiation. You will have to negotiate rates with suppliers and external partners. Your ability to be strategic will also be very important. You’ll need to be able to make quick and smart decisions based on batch analysis to achieve your business and product goals.
What are the possible career paths for a Luxury Marketing Product Manager?
As a Luxury Marketing Product Manager, you will have access to an interesting career development. You will be able to advance to positions of greater responsibility through experience and the accumulation of knowledge.
For example, you could become Product Group Manager, International Marketing Director or Luxury Development Director. In these positions, you will be responsible for the development and launch of products in the international market, implementing appropriate marketing plans and strategies. You will also work with external stakeholders such as media agencies or service providers.
On the other hand, if your career progresses properly in the fashion industry, you may one day be able to move into a different role:
- create your own brand;
- join an innovative start-up.