A strong brand is the most important tool for any company in both product or service sectors in order to be profitable and last for a long period of time. But building a strong brand is not an easy task as the competition to attract consumers’ attention and preference is absolutely ferocious. This course illustrates the main steps of building a powerful brand. It starts from identifying the customers and their needs, trying to meet those needs and ensuring satisfaction, which may affect their post-purchase behavior and loyalty. Accordingly, in order to attain business success, it is important that managers understand consumer behavior and what, when, why, where and how consumers choose products and services.
This course gives students the opportunity to reassess their understanding of marketing of luxury goods and services by discussing the merit of all the major tools of the marketing mix, emphasizing the P of PEOPLE. During the course students will be able to measure their ideas and approach during workshops and case studies. The course objective is to gain marketing insight and experience by applying marketing concepts to the luxury sector.
The luxury industry has experienced strong annual growth over the last two decades and continues to do so. High-income worldwide consumers are now searching for unique and memorable service experiences, either in the hospitality sector (leisure or business) or in their daily life (services) providing them high-end well-being and unrivalled personal status. As a result, luxury industries and brands are shifting their marketing strategies to reach this new audience, giving rise to innovative concepts, strongly supported by new digital technologies. This course focuses on the increasingly complex behavior of luxury goods consumers and their premium requirements, new marketing responses from traditional luxury brands and the fast-increasing value-added service industry.
This section will focus on the luxury sector at the international level with special attention to real estate, the Chinese luxury sector, the Indian gem & jewellery industry global environment, and the yachting industry, and will highlight some fresh marketing tools enabling yachting companies to meet new clientèle’s premium requirements.
Students are invited to engage with their professors and guest speakers on a variety of themes from the International Business Environment in Monaco to visits to the surrounding beauty of the Riviera with its many and diverse centers of interest.