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01/06/2012 - 02/06/2012: The Marketing of Luxury

Products are made in factories, but brands are created in our minds. A producer of luxury goods needs a singular idea or concept that he owns inside the mind of the prospect.

The luxury industry has been one of the fastest growing industries over the past twenty years. Even in difficult times the luxury industry boomed. Much of this growth has been driven by the captivating rise of emerging markets.

Some studies indicate that in 2011 China will become the largest luxury market in the world. But the magic trigger of the rise of the luxury goods market is not only the growing wealth. It is the power of the brand.

The art of outstanding leadership lies in the balanced articulation of three dimensions: the analytical skills, the visionary and creative skills and the craftsmanship. Other industries prove the success of the luxury goods industry, imitating their positioning strategies: what else are doing Apple, Mini Cooper or Nespresso? Nothing else. They were inspired by the specificities of luxury marketing to change the rule of their own industries.

The luxury goods industry is not autonomous. It is striking for its consumers. But which is the best communications strategy? What general concepts are applied? And which are the best practices worldwide? We introduce you to the luxury goods industry, their consumers and the right communications. And we present a comparative analysis of luxury brands such as Rolex, BMW and others.
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