Efnisyfirlit

• Cover
• Title Page
• Contents
• Introduction
• PART ONE   Back to luxury fundamentals
• 01   In the beginning there was luxury
• A brief history of luxury
• The 20th century and the democratization of luxury
• Luxury, the individual and society
• Positioning of luxury in our present-day society
• Money, fashion, art and luxury: boundaries and ambiguities
• Luxury: learning from religion and art
• 02   The end of a confusion: premium is not luxury
• The multiple approaches to the concept of luxury
• Denying the specificity of luxury
• There is no continuous movement from premium to luxury
• It is not easy to exit luxury through a ‘downwards’ strategy
• From where has the current confusion arisen?
• Towards a definition of luxury
• Exiting the confusion: the case of the car
• Relativity of luxury in cars
• Is automobile luxury the pursuit of perfection?
• Top-of-the-range, upper-premium and luxury cars
• The luxury car: creation, mythical models and social prestige
• What link does luxury have with technology?
• The constituents of the myth of the luxury car
• Luxury and expressions of national identity
• Beyond the product: services and privileges
• The magic of cult objects: licences and boutiques
• 03   Anti-laws of marketing
•  1 Forget about ‘positioning’, luxury is not comparative
•  2 Does your product have enough flaws?
•  3 Do not pander to your customers’ wishes
•  4 Keep non-enthusiasts out
•  5 Do not respond to rising demand
•  6 Dominate the client
•  7 Make it difficult for clients to buy
•  8 Protect clients from non-clients, the big from the small
•  9 The role of advertising is not to sell
• 10 Communicate to those you are not targeting
• 11 The presumed price should always seem higher than the actual price
• 12 Luxury sets the price, price does not set luxury
• 13 Raise your prices as time goes on in order to increase demand
• 14 Keep raising the average price of the product range
• 15 Do not sell
• 16 Keep stars out of your advertising
• 17 Cultivate closeness to the arts for initiates
• 18 Do not relocate your factories
• 19 Do not hire consultants
• 20 Do not test
• 21 Do not look for consensus
• 22 Do not look after group synergies
• 23 Do not look for cost reduction
• 24 Just sell marginally on the internet
• 04   Facets of luxury today
• On the importance of the ‘label’
• Luxury: the product and the brand
• The ingredients of the luxury product: complexity and work
• Superlative, never comparative
• Luxury and cultural mediation
• Luxury and history
• Luxury and time
• Tradition is not passéisme
• Luxury is made by hand
• Real or virtual rarity?
• Rarity and sustainability
• Luxury and exclusivity
• Luxury and fashion: an essential difference
• Luxury and art
• Luxury and charity
• PART TWO   Luxury brands need specific management
• 05   Customer attitudes vis-à-vis luxury
• What is the size of the market?
• To be rich or to be modern?
• Heavy users and day trippers
• The four luxury clienteles
• A strong axis of segmentation: sensitivity to the product or to the logo?
• A second axis of differentiation: authentic does not always mean historical
• A third axis of differentiation: disruption or integration?
• How countries differ in their attitudes
• Why are Western luxury brands globalized?
• China today and tomorrow
• Why India resists Western luxury
• Russia: the psychology of oligarchs
• 06   Developing brand equity
• There is no luxury without brands
• Managing luxury by the brand
• Products, experiences and brands
• A luxury brand is a real and living person
• A luxury brand has roots
• A luxury brand must radiate
• No life cycle for the luxury brand
• A legitimacy created from authority, class and creation, more than from expertise
• The financial value of luxury brands
• The core of the luxury brand: its identity
• Building brand coherence at contact points: central and peripheral identity traits
• Two modes of luxury brand building
• Building the luxury brand: the dream equation
• The luxury brand compass: architecture of product roles
• Luxury brand equity in the digital era
• Why and how does the digital world challenge luxury?
• Managing the dream through communication
• Defending the brand against counterfeiting
• Counterfeiting as a way to diagnose the health of the strategy of the brand
• Always defend your rights and communicate frequently
• 07   Luxury brand stretching
• Luxury expansion through line extensions and brand extensions
• The origins of luxury brand stretching
• Luxury stretching: a practice that has changed the sector
• Comparing the Italian and French models of extension
• Two models for brand stretching: vertical or horizontal?
• The pyramid
• The galaxy
• Success factor of luxury extension
• Typology of brand stretchings
• Leading a brand stretch
• Growth by stretching: the Mont Blanc case
• Stretching: preserve coherence, but be creative and unexpected
• Maintaining brand identity across sub-brands: the Armani case
• Building credentials in a new category: the Chanel case
• The risk factors of brand stretching
• Controlling the boomerang effect of brand stretching
• 08   Qualifying a product or service as luxury
• No product without service
• The luxury product and the dream
• Functionality and dreams do not follow the same economic models
• The luxury product is not a perfect product, but a sacred product
• Luxury product and competitive universe
• Luxury product and time
• Occasion of use and perception of value
• Lasting a lifetime… and beyond
• Prolonging the ecstasy of a privileged moment
• Adapting to its time
• Structuring the luxury range: how is the range of a luxury brand organized?
• Innovating through a new product range
• Don’t sacrifice the past to the future
• A mode of production as a lever of the imaginary
• The opposition between luxury and relocation
• Licenses signal the departure from luxury
• The challenge of luxury services: creating the gap
• 09   Pricing luxury
• What about price elasticity?
• Increase the price to increase demand and recreate the distance
• What price premium?
• Fixing the price in luxury
• Managing the price over time
• No sales in luxury
• Price reductions
• The price and its communication
• The price is not publicly advertised
• The price must be sold
• Price: the two challenges of the luxury strategy
• 10   Distribution and the internet dilemma
• Luxury is in the distribution
• You sell to someone before you sell something
• It is the price, not the product, that is sold to the client
• The sales personnel should never earn direct sales commission
• Distribution shows that the brand dominates clients, but respects them
• Distributing is first of all about communicating
• Distribution should not only show off, but enhance the product image
• It is distribution’s job to communicate the brand’s price level
• A luxury purchase is a lengthy act
• Distribution is luxury’s weak link
• The choice of a new sales point cannot be delegated
• Distribution must manage rarity
• Distribution protects you from competition
• Luxury and mode of distribution
• Luxury and digital distribution (the internet dilemma)
• Luxury brands: when, what, and how to sell on the internet
• 11   Communicating luxury
• You don’t communicate to sell
• You communicate because you sell
• You don’t talk about money
• You communicate, you don’t advertise
• No personalities in the advertising
• The role of brand ambassadors
• Building the social driver of desire
• Permanently encourage word of mouth
• What balance should there be between local and global communication?
• The internet and communication in luxury
• The unique codes of luxury communication
• Making the brand’s visual language denser: the nine signatures of the brand
• Making the brand denser through tales, stories and rumours
• Adapting the communication register to the type of luxury
• The dialectic of the local and the universal
• 12   Financial and HR management of a luxury company
• Financial issues in luxury companies
• Luxury and profitability
• Globalizing
• Luxury, volume and profitability
• Managing the human capital in luxury
• PART THREE   Strategic perspectives
• 13   Luxury business models
• Luxury products with a profitable core trade
• What are the pitfalls to avoid in this working model of a luxury product with a profitable core trade?
• Luxury products with a too-restricted core range
• The perfume business model
• The business model of luxury trades with very high overheads
• The ‘high-tech’ business model (highly innovative industry)
• Crises and luxury business models
• 14   Entering luxury and leaving it
• Wanting to be luxury is not enough: the conditions of luxury
• Why envisage a luxury strategy?
• Start small and become profitable
• Once profitable, grow quickly
• Acquiring an existing brand
• Departing from luxury
• The end of a luxury brand
• Taking a brand out of the luxury universe
• Leveraging the image in a low-cost strategy
• 15   Learning from luxury
• Luxury concerns all trades
• Understand the rules in order to adapt them
• How Apple follows a luxury strategy
• Luxury according to MINI
• Mixed strategies
• Managing a luxury strategy in B to B
• Luxury marketing as the future of traditional marketing
• What marketing issues of today could luxury marketing help to resolve?
• The Lacoste example
• Learning from luxury
• 16   Luxury and sustainable development: convergences and divergences
• Luxury and sustainable development
• Adopting the luxury strategy to foster sustainable development
•        References
•        Index
• Copyright