Track

MMGT

Presentation Type

Event

Description

According to brand management expert Kevin Keller (2009), “the most fundamental challenge of marketing and brand management for all brands including luxury brands is how to reconcile or address the many potential trade-offs that exist in making marketing decisions” (p. 293). Three notable trade-offs in the luxury goods industry are (a) classic vs. contemporary image, (b) exclusivity vs. accessibility, and (c) retention vs. acquisition. These are all interrelated and pose a dilemma for luxury marketers in that strategies emphasizing heritage, exclusivity, and retention are not useful in managing contemporariness, accessibility, and acquisition.

Share

COinS
 
Jan 1st, 12:00 AM

Growth Trade-off Variables in Luxury Brand Management

According to brand management expert Kevin Keller (2009), “the most fundamental challenge of marketing and brand management for all brands including luxury brands is how to reconcile or address the many potential trade-offs that exist in making marketing decisions” (p. 293). Three notable trade-offs in the luxury goods industry are (a) classic vs. contemporary image, (b) exclusivity vs. accessibility, and (c) retention vs. acquisition. These are all interrelated and pose a dilemma for luxury marketers in that strategies emphasizing heritage, exclusivity, and retention are not useful in managing contemporariness, accessibility, and acquisition.

 

To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.