International Journal of Applied Research
Vol. 4, Issue 3, Part F (2018)
Marketing luxury brands: Strategies and initiatives
Pratap Chandra Mandal
Luxury brands require special considerations in the way they are marketed and sold. Luxury brands have specific characteristics which may be different from that of other brands. Luxury brands cater to the requirements of high-end customers and need to satisfy the dreams and aspirations of their target marketers. Marketers of luxury brands require developing and specific strategies for achieving excellence of such brands. Luxury brands need to have strong customer focus with an in-depth understanding of their aspirations. Luxury brands require specific pricing strategies which indicate a price premium and price-quality inferences. Luxury brands require adopting effective communication strategies which indicate a unique value proposition and justify high prices. Proper distribution strategies are required which indicate the exclusivity and uniqueness of luxury brands. All such strategies will help marketers of luxury brands in convincing their high-end customers about the uniqueness of such brands.
How to cite this article:
Pratap Chandra Mandal. Marketing luxury brands: Strategies and initiatives. International Journal of Applied Research. 2018; 4(3): 377-383.