Marketing Luxury Services: Concepts, Strategy, and Practice

Foreword
Introduction
Contents
About the Author
List of Figures
List of Tables
1 History and Concept of Luxury
	1.1 Introduction
	1.2 A Brief History of Luxury
		1.2.1 The Era of Magic
		1.2.2 The Era of Power
		1.2.3 The Era of Success
		1.2.4 The Era of Individualism
	1.3 The Concept of Luxury
	1.4 Evolution of Consumption of Luxury
	1.5 Summary
	Bibliography
2 The Luxury Market
	2.1 Introduction
	2.2 Pré-COVID-19
		2.2.1 Market Numbers
		2.2.2 Players
	2.3 Post-COVID-19
		2.3.1 Financial Impacts
		2.3.2 Digitalization Impacts
		2.3.3 Behavioral Impacts
		2.3.4 Category Consumption Impacts
		2.3.5 Managerial Decisions Impacts
		2.3.6 Managerial Opportunities and Dilemmas
	2.4 Summary
	Bibliography
3 Luxury Market and the Service-Dominant Logic Paradigm
	3.1 Introduction
	3.2 The Evolution of Marketing and Service-Dominant Logic Paradigm
	3.3 Luxury Services
	3.4 Summary
	Bibliography
4 How to Position a Luxury Product
	4.1 Introduction
	4.2 How to Convince Clients that Your Brand Has a Valuable Differentiation
	4.3 Positioning Communication Strategies
	4.4 Other Elements of the Marketing Mix also Position the Brand
	4.5 Some Differences When Positioning Luxury Products
	4.6 Positioning in the Luxury Cars Segment
	4.7 Summary
	Bibliography
5 Luxury Consumer Behavior
	5.1 Introduction
	5.2 Consumer Behavior
		5.2.1 Personal Factors Influencing Consumer Behavior
		5.2.2 Psychological Factors Influencing Consumption Behavior
		5.2.3 Social Factors Influencing Consumer Behavior
		5.2.4 Cultural Factors Influencing Consumption Behavior
	5.3 Consumer Decision-Making Processes
		5.3.1 Problem Recognition
		5.3.2 Information Search
		5.3.3 Alternatives Evaluation
		5.3.4 Purchase Decision
		5.3.5 Post-Purchase Behavior
		5.3.6 Decision-Making in Luxury
	5.4 Summary
	Bibliography
6 Defining the Persona: Segmentation and Targeting
	6.1 Introduction
	6.2 Targeting, Evaluating, and Selecting
	6.3 Why Target Segments and Not Attend the Whole Market
	6.4 How to Segment Consumer Markets
		6.4.1 Geographical Segmentation
		6.4.2 Demographic Segmentation
		6.4.3 Psychographic Segmentation
		6.4.4 Behavioral Segmentation
		6.4.5 Media Usage Segmentation
	6.5 Criteria to Evaluate Potential Targets
	6.6 How to Evaluate and Select Targets
		6.6.1 Target Market Valuation
		6.6.2 Target Market Selection
	6.7 Luxury Segmentation
	6.8 Summary
	Bibliography
7 Developing Strong Luxury Brands for Products and Services
	7.1 Introduction
	7.2 Creating Strong Brands
	7.3 Creating Brand Equity
	7.4 Evaluating Brand Equity
		7.4.1 BRANDASSET VALUATOR
		7.4.2 BRANDZ
		7.4.3 Brand Resonance
		7.4.4 Brand Equity Boosters
	7.5 Developing the Brand Elements
	7.6 Internal Branding
	7.7 Measuring Your Brand Equity
	7.8 Managing Brand Equity
	7.9 Branding Strategies
	7.10 Brand Extensions
	7.11 Brand Portfolio Management
	7.12 Luxury Branding Strategies
	7.13 Summary
	Bibliography
8 Creating Competitive Products
	8.1 Introduction
	8.2 Defining Product Strategy
		8.2.1 Product Levels
		8.2.2 Product Classification
		8.2.3 Product Differentiation
	8.3 Product Lifecycle Management
	8.4 Product Line Management
		8.4.1 Categorization of Product Lines
		8.4.2 Evaluation of Product Lines
	8.5 Product Mix Pricing Strategies
	8.6 Co-Branding
	8.7 Packing
	8.8 Labeling
	8.9 Competitive Products in Luxury
	8.10 Summary
	Bibliography
9 Place Strategies for Luxury Brands
	9.1 Introduction
	9.2 Channels
	9.3 Channels and Value
	9.4 Marketing Channels
		9.4.1 Marketing Channel Systems
		9.4.2 Hybrid Channels
		9.4.3 Channel Levels
		9.4.4 Channel Design
		9.4.5 Channel Management
		9.4.6 Integration of Channel Systems
		9.4.7 Channel Conflict, Cooperation, and Competition
	9.5 Success Factors in Ecommerce
	9.6 Marketing Channel Strategies for Intermediaries
	9.7 Retail
		9.7.1 Shopping Center
		9.7.2 Wholesale
		9.7.3 Logistics
	9.8 Location Decisions
	9.9 Luxury Channels Strategies
	9.10 Summary
	Bibliography
10 Managing Pricing and Value of Luxury Brands
	10.1 Introduction
	10.2 The Strategic Importance of Pricing
	10.3 Who Determines Prices in the Company
	10.4 The Pricing Process
		10.4.1 Selection of the Price Determination Objective
		10.4.2 Demand Determination
		10.4.3 Cost Estimate
		10.4.4 Analysis of Competitors’ Costs, Prices, and Offers
		10.4.5 Selection of a Pricing Method
		10.4.6 Selection of Final Price
	10.5 Tactical Pricing Decisions
		10.5.1 Geographic Price
		10.5.2 Discounted Prices and Promotions
		10.5.3 Promotional Price
	10.6 Pricing Strategies in Luxury Markets
	10.7 Summary
	Bibliography
11 Communication Strategies and Tools for Luxury Brands
	11.1 Introduction
	11.2 Integrated Marketing Communication
		11.2.1 Marketing Communication
		11.2.2 Steps for the Development of Effective Communication
		11.2.3 Selection of Communication Channels
		11.2.4 Budget Establishment
		11.2.5 Decision on the Communication Mix
		11.2.6 Measurement of Communication Results
		11.2.7 Integrated Marketing Communication Management
		11.2.8 Creative Communication Strategies
	11.3 Mass Communication
		11.3.1 Advertising
		11.3.2 Sales Promotion
		11.3.3 Events and Experiences
		11.3.4 Public Relations
	11.4 Personal Communication
		11.4.1 Direct Marketing
		11.4.2 Interactive Marketing
		11.4.3 Tips for Creating Effective Websites
		11.4.4 Word-of-Mouth Communication
		11.4.5 Personal Sales
	11.5 Communication Strategies in Luxury
	11.6 Summary
	Bibliography
12 Managing People for the Luxury Market
	12.1 Introduction
	12.2 Managing People
	12.3 Recruiting
	12.4 Selecting
	12.5 Training
	12.6 Motivating
	12.7 Evaluating
	12.8 Dismissing
	12.9 Managing People in Luxury
	12.10 Summary
	Bibliography
13 Process Management and Operations for Luxury Brands
	13.1 Introduction
	13.2 The Importance of Process Management
	13.3 Process Mapping Techniques
		13.3.1 Flowcharts
		13.3.2 Blueprints
		13.3.3 Consumer Journey
	13.4 Process Analysis
	13.5 Failure Analysis
	13.6 Delay Analysis
	13.7 Process Reengineering
	13.8 Managing Processes in Luxury
	13.9 Summary
	Bibliography
14 Managing the Luxury Panorama for Great Experiences
	14.1 Introduction
	14.2 Managing the Panorama
		14.2.1 Sensory Stimuli
		14.2.2 Layout, Space, and Circulation
		14.2.3 Visual Communication Signs
		14.2.4 Psychological and Sociological Interaction
		14.2.5 ePanorama
		14.2.6 Phygital
		14.2.7 Experiential Retail
	14.3 Managing the Panorama in Luxury
		14.3.1 Luxury Panorama and Positioning
		14.3.2 Luxury Panorama and the Internet
		14.3.3 Luxury Panorama and Flagships
	14.4 Summary
	Bibliography
15 Strategical Satisfaction Management
	15.1 Introduction
	15.2 Avoiding Tragic Experiences, Creating Magic Experiences
	15.3 Resources and Productivity
	15.4 Pre-service
		15.4.1 Information
		15.4.2 Customer Experience (CX)
	15.5 Service
		15.5.1 User Experience (UX)
		15.5.2 The Seven Steps to Great Servicing
		15.5.3 Expectations and Experiences
	15.6 Post-service
		15.6.1 Recovering Insatisfaction
		15.6.2 Managing Satisfaction and Relationship
	15.7 Loyalty
	15.8 Measuring Fidelity and Loyalty
	15.9 Managing Strategic Satisfaction in Luxury
	15.10 Summary
	Bibliography
16 Culture and Leadership
	16.1 Introduction
	16.2 The New Paradigm of Services and Cultural Changes
	16.3 Leadership in Luxury
	16.4 Summary
	Bibliography
Index