Managing Luxury Brands (2235.YR.015523.1)

General information

Type:	OPT	Curs:	1	Period:	S semester
ECTS Credits:	2 ECTS

Teaching Staff:

Group	Teacher	Department	Language
Year 1	Cristina Lastra Ravn	Dirección General y Estrategia	ENG

A strong desire and keen interest in exploring the Luxury Industry from the perspectives of Marketing and Communication. Previous experience and/or contact with a related business or activity is interesting and useful to enrich the Course and share with your colleagues.

The luxury market has proven resilient and adaptable as global change continues to affect most industries, in some cases directly disrupting established business models. It has shown itself as one of the few industries that maintains a steady growth despite economic downturns.

Awareness of the context and consumption of luxury historically across time from past to present, its socio-economic roots, cultural significance and evolution into a sophisticated business model is essential to understand and analyse how luxury operates from Marketing and Communication perspectives. The role of expectations about tangible and intangible ROI exerted by corporations, stakeholders and consumers, the consideration of luxury goods not just as a status symbol but also an investment, the shape-shifting nature of what constitutes luxury for consumers in distinct markets and social environments, the role and effect of digital transformation are all fascinating elements that drive this bouyant economic segment.

Marketing Luxury requires unique and specific strategies, tools and partnerships and the course will explore and analyse the Luxury space in Fashion, Travel and Hospitality, Food and Automotive industries to gain a wider vision of the commonalities, distinctive practices and future vision of this exciting and challenging scenario where advanced CRM and product management, digital competencies, value management, brand building and creative thinking are key assets.

As an optional specialisation, Marketing Luxury aims to provide students with an introduction and general overview of the Luxury Industry articulated on different levels to understand the concept, scope and key drivers that identify successful luxury brands.

- obtain a basic understanding of the luxury industry: evolution, ecosystem, processes, relationships, value, players and future;
- identify the main levers and stakeholders of the industry, their interrelationship and context;
- understand the main drivers, participants and the role of digital innovation in transforming the luxury experience;
- reflect on the role of luxury, examine, understand and debate pros and cons;
- combine information, insights and reflections to envision future challenges and opportunities in Luxury

1. What is Luxury The foundations of the luxury industry and its distinguishing features as an artistic and cultural signifier, value creation and investment, personal statement, design discipline and business activity.

2. Keys to Marketing Luxury Luxury Groups, market structures, suppliers, distribution, Product categories, Brand Management, Communication, Media, VIP consumers and Relationship Marketing, stakeholders, Technology, Design and Creativity.

3. Success and Future in Luxury Success stories, transformation and new luxury, contextual challenges and innovation.

The aim of the Course is to provide an introduction and extend into an informative and inspirational overview of Luxury present and future that builds knowledge, generates reflection and sparks open, rich discussion.

Marketing Luxury will be held over 6 Sessions, the final one being devoted to sharing the Group Project assignment with tutor and classmates. Overall, classroom participation will be observed and valued, including appropriate, timely references and discussion on the readings assigned.

The structure of the course (which will be detailed along the first Session) is based on a combination of theory and practice, with students expected to be proactive in their approach. The material and exercises included aim to foster the identification and acquisition of related skillsets and apply learnings in an atmosphere of open contribution and creativity.
Sessions will be active, creative and innovative in their design and wherever possible, speakers on specific areas will share their insights and experience with students.

Some preparation will be requested prior to sessions.

ASSESSMENT BREAKDOWN

Group	Teacher	Department
Year 1	Cristina Lastra Ravn	Dirección General y Estrategia