"Focusing on the key strategic areas of market, brand strategy, business strategy and luxury responsibility, this book delivers a veritable mass of information... If you are new to the luxury sector this would be a particularly excellent desk resource and initiation to the different world of luxury products. Even if you have been working in this sector for a long time, you surely cannot fail to get some benefit from this book." Brand Uniq
"...The most detailed and multifaceted coverage of luxury marketing I have come across...the only book the specialist working in luxury brand management would need to read to feel more prepared to tackle the challenges the luxury market poses, and be able to make more informed decisions." Michael Baicoianu
Bringing together 25 unique contributions from the world's foremost thought leaders in luxury management and marketing, The Management of Luxury provides a strategic examination of luxury branding on a global scale.
The contributors
Preface
Part One The Luxury Market
01 The market and business of luxury: an introduction
Günter Müller-Stewens and Benjamin Berghaus
Introduction
The luxury market
Luxury management
Research in luxury
Sources of the contemporary luxury research stream
Notes
02 Classifying luxury and prodigality
Michael Jäckel
Introduction
Classifying luxury and prodigality - a proposal
Historical examples
Cycles of acceptance
Conclusion
Notes
03 Exploring luxury consumer behaviour
Prokopsis Theodoridis and Sofia Vassou
Introduction
The notion of luxury
Consumer motivation
Conclusion
Key points
Notes
04 Identity-based luxury brand management
Klaus Heine, Michel Phan, and Vera Waldschmidt
Introduction
The concept of brand identity
The functional component of the luxury brand identity
The emotional component of luxury brand identity: creating symbolic meaning
The case of Mont Charles de Monaco
Conclusion
Key points
Notes
Part Two Luxury Brand Strategy
05 Public luxury representatives
Michael Breazeale, Christopher R Long, and Daniela Ott
Introduction
What research tells us
Practical implications of our findings
Conclusion
Key points
Notes
06 Curating the creative genius in luxury firms
Charles Aaron Lawry and Sabrina Helm
Introduction
Succession management
What is curation?
The art of curation
Conclusion
Key points
Notes
07 Arts meet luxury brands
Carsten Baumgarth, Nicole Lohrisch, and Olga Louisa Kastner
Introduction
Literature review on branding and arts: a snapshot
Typology of arts-luxury brands collaborations
Conclusion
Key points
Notes
08 Luxury as societal mentor
George Panigyrakis and Eirini Koronaki
Introduction
Pillars of cultural cultivation
Conclusion
Key points
Notes
09 Preserving luxury exclusivity through art
Claude Chailan and Ivan Valek
Introduction
Analysis
Interpretation
Conclusion
Key points
Notes
10 Brand charismatic legitimacy and marketing of adoration
Delphine Dion and Eric Arnould
Introduction
Charismatic legitimacy
The marketing of adoration
Staging charismatic legitimacy in store
Conclusion
Key points
Notes
11 Digital media in monobrand stores
Marcus SchÖgel and Timo Tischer
Introduction
Digital media applications in monobrand stores
The luxury brands perspective - key challenges
Conclusion
Key points
Notes
Part Three Luxury Business Strategy
12 Gravity shift from West to East
Philip Beil, Fabian Sommerrock, and Alexander Gaus
Introduction
The Chinese economy - a major success story
Luxury market size and structure
Luxury consumers - brand recognition is crucial
Marketing
Conclusion
Key points
Further reading
13 The Chinese market: entry modes
Rui Wang, Kaibin He, and Yue Wen
Introduction
Pre-WTO market entry strategies (1978-2003)
Post-WTO market entry strategies (2004-13)
Conclusion
Key points
Notes
14 Entering the Chinese market
Rui Wang, Kaibin He, and Yue Wen
Introduction
Pricing strategy
Marketing communication strategy
Channel strategy
Product adaptation strategy
Conclusion
Key points
Notes
15 Managing brand extensions in the luxury industry
Klaus-Peter Wiedmann, Christiane Klarmann, Nadine Hennigs, Stefan Behrens, and Alexander Stigelski
Introduction
Conceptualization
Results and discussion
Implications for management practice
Conclusion
Key points
Notes
16 Luxury brands enter the online market
Elisa Arrigo
Introduction
The internet and luxury brands
Online opportunities for luxury brands
Conclusion
Key points
Notes
17 Competing as a luxury SME
France Riguelle and Didier Van Caillie
Introduction
Strategic issues for luxury SMEs
Conclusion
Key points
Notes
18 Insisting on luxury to survive
Michael Reinhold and Emil Annen
Introduction
Leica
Luxury strategy
Leica brand management today
Conclusion
Key points
Notes
19 Managing price fluctuations of raw materials through innovation
Anne-Flore Maman
Introduction
High jewellery: a specific industrial sector in luxury
Price fluctuations in raw materials
Innovation as the solution
Conclusion
Key points
Notes
20 The Counterfeit Timer©
Anne-Flore Maman and Camille Depigny
Introduction
The framework: The Counterfeit Timer©
The supply/offer side
The demand side
Conclusion
Key points
Notes
21 Acting on luxury counterfeiting
Ludovica Cesareo and Alberto Pastore
Introduction
A new framework: company strategies and actions
Conclusion
Key points
Notes
References for Table 21.1
22 Luxury brands as employers
Verena Batt and Benjamin Berghaus
Introduction
Drivers of luxury employer attractiveness
Implications
Conclusion
Key points
Notes
23 The impact of luxury brands on employees
Benjamin Berghaus and Sven Reinecke
Introduction
Luxury brand impact on behaviour
Connecting the motivation structure to psychological theory
Conclusion
Key points
Notes
Part Four Luxury Responsibility
24 Heritage of luxury and responsibility
Duane Windsor
Introduction
Affluence and luxury
Conspicuous consumption and the affluent class
Philanthropy and taxation of affluence and wealth
Voluntary responsible luxury
Conclusion
Key points
Notes
25 Luxury organizations and responsibility: a toolbox
Farah Montesa and René Rohrbeck
Introduction
Defining the levels
A toolbox for advancing corporate sustainability
Guide to a responsible company
Conclusion
Key points
Notes
26 Luxury organizations and social responsibility: a case study
David S Waller and Anurag G Hingorani
Introduction
Luxury brands and CSR
Moët Hennessy Louis Vuitton
Implications
Conclusion
Key points
Notes
Index