Advances in Luxury Brand Management (Journal of Brand Management: Advanced Collections)

Presenting some of the most significant research on the modern understanding of luxury, this edited collection of articles from the __Journal of Brand Management__ explores the complex relationships consumers tie with luxury, and the unique characteristics of luxury brand management. Covering the segmentation of luxury consumers worldwide, the specificity of luxury management, the role of sustainability for luxury brands and major insights from a customer point of view, __Advances in Luxury Brand Management__ is essential reading for upper level students as well as scholars and discerning practitioners. Advances in Luxury Brand Management 4 Contents 6 List of Figures 8 List of Tables 9 Introduction: Luxury Brand Management Insights and Opportunities 11 The Luxury Industry 12 Consumer Luxury Brand Perceptions 13 Ingredient Branding 21 Luxury Brand Experience and Journey 21 Luxury Brand Co-creation in a Digitally Connected World 23 Luxury and Sustainability 24 Luxury Brand Counterfeits 25 Outline of Chapters 25 Conclusion 28 References 28 The End of Luxury as We Knew It? 35 From Niche to Mass 35 Is Luxury Brand Management a Financially Driven Strategy? 37 From Bespoke Brands to World Megabrands 39 Why Luxury Needs Cult Products 40 Is Luxury Management a Science of Artificial Rarity? 41 Self-elevation: Learning from Religion and Art 47 What Are the New Purposes of Luxury Stores Today? 48 Luxury Challenges for the Future: Sustaining the Gap 49 References 50 Luxury Brand Marketing – The Experience Is Everything! 52 Introduction 52 A New Luxury Paradigm 53 Parameters of Luxury 53 Consumption of Luxury 54 Luxury and Postmodernism 55 Experiential Luxury Marketing 57 The Experience Economy 57 Dimensions of the Luxury Experience 58 Strategies for Experiential Luxury Marketing 61 Conclusions and Implications 63 References 64 The Luxury Brand Strategy Challenge 67 References 72 The Specificity of Luxury Management: Turning Marketing Upside Down 73 Introduction 73 Luxury Marketing: A Difference of Level or of Nature? 75 The Essence of Luxury: Recreating the Social Distance 76 Luxury as a Badge: Luxury for Others 78 Luxury for Oneself 78 Luxury and Fashion 80 Turning Marketing Upside Down 80 Forget About ‘Brand Positioning’, Worship Brand Identity 80 Be Superlative, Never Comparative 81 Should You Aim at the Pursuit of Perfection? No Flaws, No Charm 82 Resist Clients’ Demands 83 Don’t Look for Equality with Your Clients 84 Make It Difficult for Clients to Buy 85 The Role of Advertising Is Not to Sell 86 Advertise to Those Whom You Are Not Targeting 86 Raise Your Prices Continuously in Order to Increase Demand 87 Unveiling the Specific Marketing of Luxury Brands 88 The Luxury Sector Hit by the Economic Crisis 88 The Future of Luxury Brands: From Retreat to Rebound 90 References 91 Luxury Consumption in the Trade-Off Between Genuine and Counterfeit Goods: What Are the Consumers’ Underlying Motives and Value-Based Drivers? 93 Introduction 93 Theoretical Background and Construct Definition 95 The Luxury Concept and Motives for Luxury Consumption 95 Definition of Counterfeiting 96 Conceptual Model: Determinants of Consumers’ Luxury Value Perceptions 96 Financial Value 99 Functional Value 99 Individual Value 100 Social Value 101 Counterfeiting Research: Selection Method and State of the Art 101 Price and Price–Quality Relationship 102 Product Characteristics and Related Involvement 102 Individual Characteristics 103 Status-Oriented Consumption 104 Implications for Countermeasures Against Counterfeit Consumption 105 Legal Countermeasures 105 Ethical Countermeasures 107 Economic Countermeasures 108 Conclusions and Further Research Steps 108 References 124 Is Luxury Compatible with Sustainability? Luxury Consumers’ Viewpoint 131 Introduction 131 Luxury and Sustainability 132 The Relative Silence of Luxury Houses on Sustainability Issues 133 Luxury Beyond the Radar of SD Sentinels 135 Recent Evolutions: Why Luxury Has Come Under Scrutiny 137 Hypotheses and Method 139 Hypotheses 139 Socio-Demographics 139 Methodology 142 Measures 143 Sample Description 144 Results 147 Descriptive Statistics 147 Shocking Information for Luxury Consumers 149 Explaining the Luxury–Sustainability Contradiction 151 Discussions and Implications 153 Limitations and Future Research 156 Appendix A 157 Appendix B 159 References 161 Probing Brand Luxury: A Multiple Lens Approach 165 Introduction 165 Method 166 Findings 169 Lens 1: Old Luxe and the Functional Utility of Brand Luxury 169 Lens 2: New Luxury and Brand Symbolism 170 Lens 3: Levels of Brand Luxury 172 Lens 4: Confusion about Luxury, Status and Prestige 172 Lens 5: Brand Luxury Typologies 173 Lens 6: The Co-Creation of Brand Luxury 173 Lens 7: Experiential Consumption of Brand Luxury 176 Discussion 177 Conclusions 179 Brand Academic and Brand Managerial Implications 179 References 180 Managing the Growth Tradeoff: Challenges and Opportunities in Luxury Branding 186 Introduction 186 Ten Defining Characteristics of Luxury Brands 188 Managing Growth Tradeoffs with Luxury Brands 191 Brand Equity Measurement 192 Brand Strength and Stature 193 Brand Imagery 194 Brand Feelings 197 Brand Expectations 198 Brand Architecture 200 The Gucci Story 200 Vertical Extensions 201 Sub-branding 201 Linking Brand Elements 202 Conclusion 203 References 204 Measuring Perceptions of Brand Luxury 206 Introduction 206 Defining the Luxury Construct 209 Perceived Conspicuousness 214 Perceived Uniqueness 214 Perceived Extended Self 215 Perceived Hedonism 216 Perceived Quality 216 Scale Development 217 Methodology 217 Item Generation and First Content Validity 219 Internal Scale Reliability 219 Exploratory Factor Analysis 220 Confirmatory Factor Analysis 222 Test-Retest Reliability 224 Scale Validity 225 Second Content Validity 225 Predictive Validity 225 Nomological Validity 226 Assessing Construct Validity Using the Campbell and Fiske Criteria 228 Discussion 231 Implications 231 Future research 232 Limitations 233 References 235 Managing Luxury Brands 242 Introduction 242 What Is Luxury? 243 Luxury Brands and Griffes 246 Principles of Luxury 249 Management 249 Brand Awareness and Desire 252 From Creator to Brand 254 References 256 Index 257 Front Matter ....Pages i-x Introduction: Luxury Brand Management Insights and Opportunities (Joachim Kernstock, Tim Oliver Brexendorf, Shaun M. Powell)....Pages 1-24 The End of Luxury as We Knew It? (Jean-Noël Kapferer)....Pages 25-41 Luxury Brand Marketing – The Experience Is Everything! (Glyn Atwal, Alistair Williams)....Pages 43-57 The Luxury Brand Strategy Challenge (Uché Okonkwo-Pézard)....Pages 59-64 The Specificity of Luxury Management: Turning Marketing Upside Down (Jean-Noël Kapferer, Vincent Bastien)....Pages 65-84 Luxury Consumption in the Trade-Off Between Genuine and Counterfeit Goods: What Are the Consumers’ Underlying Motives and Value-Based Drivers? (Klaus-Peter Wiedmann, Nadine Hennigs, Christiane Klarmann)....Pages 85-122 Is Luxury Compatible with Sustainability? Luxury Consumers’ Viewpoint (Jean-Noël Kapferer, Anne Michaut-Denizeau)....Pages 123-156 Probing Brand Luxury: A Multiple Lens Approach (Karen W. Miller, Michael K. Mills)....Pages 157-177 Managing the Growth Tradeoff: Challenges and Opportunities in Luxury Branding (Kevin Lane Keller)....Pages 179-198 Measuring Perceptions of Brand Luxury (Franck Vigneron, Lester W. Johnson)....Pages 199-234 Managing Luxury Brands (Jean-Noël Kapferer)....Pages 235-249 Back Matter ....Pages 251-256 La 4e de couv. indique : "Presenting some of the most significant research on the modern understanding of luxury, this edited collection of articles from the Journal of Brand Management explores the complex relationships consumers tie with luxury, and the unique characteristics of luxury brand management. Covering the segmentation of luxury consumers worldwide, the specificity of luxury management, the role of sustainability for luxury brands and major insights from a customer point of view, Advances in Luxury Brand Management is essential reading for upper level students as well as scholars and discerning practitioners." "Presenting some of the most significant research on the modern understanding of luxury, this edited collection of articles from the Journal of Brand Management explores the complex relationships consumers tie with luxury, and the unique characteristics of luxury brand management. Covering the segmentation of luxury consumers worldwide, the specificity of luxury management, the role of sustainability for luxury brands and major insights from a customer point of view, Advances in Luxury Brand Management is essential reading for upper level students as well as scholars and discerning practitioners."-- Provided by publisher The first book focusing specifically on talent management, retention and leadership in the luxury industry. It explores how to lead and manage the people this industry attracts, and the major HR challenges the industry is about to face as the previous generation of luxury pioneers retire and Asia becomes a major player in the luxury world.