Luxury goods is usually a term used for those goods that are appealing to all those with greater income. These are special goods that make their specific market and target only that particular segment of market. Thus many of the luxury goods have acquired a particular brand name for them. A luxury brand is actually not a product or a service. It is beyond the conventional concept of having an object or a thing. It is basically a philosophy of individuality, identity, culture and status symbol.
There are hosts of intricate strategies to overcome the challenges of integrating luxury brands with the environment. The compatibility of luxury brands with the internet seems fairly well. The virtual markets can maximize the presence of brands around the consumers. Although luxury industry has so far not opted for this medium as a basic ingredient of their aggressive market campaigns but still its future looks fertile. This involves the creation of corporate websites so that the consumers could interact with the particular brand. The internet is always known for its creativity and innovation so it can provide hosts of advantages to the luxury branding strategy. The core idea of branding through the digital context is directed to increase the market share by raising the customer awareness about explicit band.
The luxurious shopping is very different for the conventional shopping. The customers want more and more interaction with the product before making a final purchase. So the business stores should also be maintained besides the websites to attract customers. The website would only be responsible for the brand awareness part and the rest would be done by the retail shops. The qualitative print advertisements can also play a dominant role in reminding the customer about the extravagance of the brand. The online retail shops would provide immense business to the luxury brands manufacturers.
The article is written by Ahsan Ayub and Maria Iqbal. Both Ahsan and Maria have been working for Marish Solutions and have been writing articles on different topics including business, marketing, finance, entrepreneurship, technology etc. Besides this, the company Marish Solutions offers a range of services broadly in the category of Business and IT Solutions. The company also provides consultation services to many small and medium sized businesses.
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