Luxury and Fashion Marketing
Objectives
Marketing is gaining weight in luxury and fashion. However, traditional marketing often fails in those sectors. In luxury and fashion, marketing does not conform to standard theoretical formulae. Kapferer and Bastien created the term ?anti-laws of marketing? (2012) to express the specificity of those business models, which run contrary to most business models in other sectors.
In what relates to luxury, one of the main interests and learning goals of the course is to explore how the luxury business model can be so successful, although it does not follow the traditional principles of the market ? neither from the perspective of conventional marketing, nor from micro-economic theory. The course further questions the high performance of the sector in such turbulent times (post Covid context; war in Ukraine; high levels of inflation in developed markets; political, social and economic uncertainties in China ? the luxury biggest market so far).
In what relates to fashion, the aim of the course is to explore the challenges and opportunities of the (fashion) business model, initially established to address market trends and constantly changing customer preferences. Among the discussed topics, we question such business model through the light of resources scarcity, environmental and social sustainability challenges.
The Luxury and Fashion Marketing course is a deep dive into the luxury and fashion sectors and their so-called anti-laws of marketing, with a
focus on marketing strategy, branding, and retailing. It is designed to provide participants with theoretical knowledge and practical experience
for effective marketing management of luxury, fashion and premium businesses, brands, products and services.
General characterization
Code
2437
Credits
7
Responsible teacher
Catherine da Silveira
Hours
Weekly - Available soon
Total - Available soon
Teaching language
English
Prerequisites
n/a
Bibliography
Kapferer, Jean-Noël & Bastien, Vincent. The luxury strategy – Break the rules of Marketing to build luxury brands, Second Edition, 2012, Kogan Page.
KAPFERER, Jean Noël, KERNSTOCK Joachim, BREXENDORF Tim Oliver, POWELL Shaun M. Advances in Luxury Brand Management, 2017, Journal of Brand Management: Advanced Collections, Palgrave Macmillan.
UNDERHILL, Paco. Why we buy - The Science of Shopping, Updated Version, 2009, Simon & Schuster.
CORBELLINI, Erica & SAVIOLO, Stefania. Managing Fashion and Luxury Companies, 2009, Rizzoli Etas.
KAPFERER, Jean Noël, Kapferer on Luxury - How Luxury Brands can grow yet remain rare, 2015, Kogan Page.
CHEVALIER, Michel & GUTSATZ, Michel. Luxury Retail and Digital Management - Developing Customer Experience in a Digital World, Second Edition, 2020, Wiley.
WITTIG, Martin, SOMMERROCK, Fabian; BEIL, Philip & ALBERS, Markus. Rethinking Luxury - Roland Berger, 2014. Lid Publishing
Teaching method
The Course combines several active learning methods:
Lectures to provide the essential knowledge on luxury and fashion marketing strategy, branding, and retailing.
Team project . Students (in teams of 5 or 6 students) are asked to develop a project (see above) and present it to a panel of experts in luxury goods and/or services. The choice of the brand/service/concept is free but should be validated with the Course Instructors.
Team Project Sessions: Two slots of 60 minutes are attributed to each Team over the Semester for project discussion with Professor and Teaching Assistant, besides the final presentation to Luxury experts. Teams are required to prepare a predetermined part of their teamwork for each Team Project Session. The instructors provide feedback during the Session.
Individual reflection on Case Studies involving recent business case studies from the Luxury, Premium and Fashion World (two Case Studies over the Semester - One in Luxury Marketing and one in Fashion Marketing - to be completed individually as an in-home assignment).
Evaluation method
Team Project: 50%
Final Presentation and discussion: 20% [Team evaluation] Individual Contribution: 15% [Peer evaluation + evaluation other teams over the Final Presentation Sessions] Preparation Team Sessions: 15% [assessment of the Team Sessions. Individual Evaluation]
Individual written assignments: 30% [One in Luxury Marketing, one in Fashion Marketing ? 15% each]
Final Exam [Mandatory]: 20% [Minimal grade of 8,5 is required] ? On-campus Exam using Wiseflow platform. Essay on luxury/fashion key challenges discussed in class.
Subject matter
The Course is divided into two main blocks:
1st block: Luxury paradigm
Luxury market, concepts and business models
New market dynamics
Developing and managing luxury brands and products
Distribution and retailing (with the collaboration of Sector?s Experts and Practitioners)
2nd block: Fashion Marketing
Approaches to the concept of fashion
Trends
The fast fashion business model (with the collaboration of Sector?s Experts and Practitioners)
Programs
Programs where the course is taught: