luxury market report

Luxury Market Profile Due November 19th

Points 80

Luxury Market

“QUALITY IS REMEMEBERED LONG AFTER THE PRICE IS FORGOTTEN.” ~GUCCI FAMILY MOTTO

The primary battle lines in luxury will be market turbulence and competitors struggling for a shrinking share of consumer spending, even while the ranks of the wealthy rise. Two thousand nineteen luxury brands will be challenged to focus on the human aspect of the digital revolution, as they seek to find traction with the younger, digitally-powered consumers that have come with it. This shift requires brands to truly understand how to connect with their audience and utilize luxury brand marketing successfully have a sustainable luxury brand.

This assignment requires you to select a luxury market segment and take the next two weeks to become an expert through evaluating where the sector stands today and where it is heading tomorrow. In this report, you will select the one to two segments and four luxury or premium luxury brands that fall into the sectors of your choice. For example, you can choose travel as your sector and two premium luxury hotels and two luxury hotels. Through this report, you will become an expert in this area and present to the class your findings.

You are welcome to conduct this project on your own or in a group of two. If you are in a group please read the following:

Group project, but know that your presentation must be presented by both of you equally and that you will be graded separately on your presentation skills and insight knowledge. Also, at the end of the report, I will need an additional personal written abstract from each member of you explaining your research in your own words (400 words). Note: Please clearly write the author of each abstract.

LUXURY MARKET REPORT • Upload report to Moodle on November 21st by 2pm (late uploads will be marked

down) • Hardcopy of report is due in my office by November 21st by 2pm (not late reports

will be accepted).

GUIDE FOR REPORT FORMATING IMPORTANT: All reports must be approved by Woodbury Writing Center with a confirmation form turned in with paper (NO EMAILS will be accepted)

Luxury Market Profile Due November 19th

Points 80

REPORT FORMAT: Requirements for all written assignments: Papers must be Word processed (typed) and placed in a report folder with a cover page.

• Resources are required for paper • 1” margins between the lines and 12-point font. Maximum 1” margins on all sides. • Papers are due at the beginning of the class session and considered late if you arrive late

to class. • Everywhere applicable, you must cite appropriately. Choose APA format. • Plagiarism or dishonesty of any type will result in receiving a final grade of ‘F’ • All reports MUST BE BOUND not stapled or clipped together (marked down if not

professional) REPORT OUTLINE

I. Cover II. Table of Contents

III. Abstract IV. Introduction:

• Overview of the Luxury Sector Product/ Service Sector I. Provide insights about the sector; history, net worth, unique factors

II. Broad history of the product / service sector you selected (200 words) III. Challenges & Growth in this sector (500+ words)

§ What are the challenges and how are brands addressing this? § What are shifts in this sector of luxury that have changed or enabled

this sector to evolve? IV. What the future brings to this market sector. (350+ words)

§ How is this sector changing, and what will it look like in two to three years?

§ Is the demographic changing, and are their drivers of change that are influencing this sector?

• Select which of the traditional luxury segment you will research.

1. Luxury Goods: Fashion & Accessories, Watches & Jewelry, Well-being, Beauty Products, Art 2. Lifestyle Purchases: Automotive, Travel, Home & Interior Design, Alcoholic Beverages including Wine, Champagnes, and Spirits, Travel Experiences

Luxury Market Profile Due November 19th

Points 80

V. Overview of FOUR luxury brands you selected and the attributes that puts them in the

luxury market segment.

o Share FOUR separate attributes to this market sector (why is it unique and should be valued) 350+ words with visual to support

VI. Give a snapshot of your target market; Stats on millionaires, billionaires and the age

demographics. o Develop a persona of this customer.

VII. Define each of the FOUR brands (250 words for each)

BRAND EQUITY o History of the brand within the product /service sector o Share heritage and modern contribution o Country of origin o Explore the evolution of the brand over time o Products and services provided

VIII. Create a Brand Identity Prism for Each of The FOUR Brands

o Create a Prism and write below the six aspects in relation to one another by considering their position between the business (sender) and client (recipient). Example of Prism below but must include write up to follow (400+words).

Luxury Market Profile Due November 19th

Points 80

IX. Marketing of This Luxury Segment

• Create a SWOT Analysis of this sector (not the brand) • Share three samples of the Most Effective Campaigns / Promotion and how effective

you felt they were: Provide samples of brands marketing in traditional formats (paper), film (YouTube), digital marketing (ex. social media, websites, and newsletters) and Brand sponsorships (golf tournaments, race cars, sailing racing)

o Why are they strong campaigns and promotions? o What do you think they could have done differently?

• Review The Anti-Laws of Marketing in Luxury and share how your market segment

adapts at least “FIVE” of them through their marketing campaign. • Does your market segment embrace digital? If yes, show how if not share you would

adapt a digital component to their marketing strategy. o Share the best digital overall marketing strategy you can find

from your segment.

Luxury Market Profile Due November 19th

Points 80

X. The Bandwidth of the Top-Level Products Create a chart with a brief description of common Design, Values, Manufacture of Two brands at the premium level and Two brands at the luxury level that are within the market segment you selected

Luxury Market Profile Due November 19th

Points 80

XI. Create a Market Level Hierarchy of “four” brands you selected in your Bandwidth of the Top-Level Products. While you MUST define EACH of your market levels, you need to state the attributes that make up this market level in the luxury sector. (500 words total)

NOTE: your hierarchy tier only need to be four levels high. The sample below has more levels then you need but it is a good reference points for your research.

IV. CONCLUSION

XII. REFERENCES (APA) - Must have at least ten references LUXURY MARKET POWERPOINT PRESENTATION

• Upload presentation to Moodle on November 19th by 12pm (late uploads will be marked down)

• Presentation Time: 11- 15 minutes (no shorter or longer). You will be marked down if you go over the time allowed. Practice your presentation.

• Presentation should cover a brief outline off all that is listed for research paper requirement. While in the presentation will be a brief overview you will be expected to know the content without reading directly from the slides or the paper.

• Presentation should give the class a clear understanding of the luxury marketing sector DRESS CODE: No sneakers, no shorts, no t-shirts. Will be marked down if you do not dress professionally. Dress professional as if Dr. Saba was sitting in the front row.

Luxury Market Profile Due November 19th

Points 80

Rubrics - Presentation / Paper

PRESENTATION

Below Average

Basic Presentation

Above Average

VISUALS

• Needed better visuals • Audience needed to see more.

• Good visuals but needed more. • Seemed rushed

• Visuals went beyond what was asked. • Clearly understood the company

KNOWLEDGE OF COMPANY

(History - Contributing Factors/Service)

•Needs to conduct more research. • Content was repeated • Unclear overall message

• Understands the only the

basics, more research needed

• Understands the company and

their goals • Research shared new insight

with valuable contribution to the presentation

PRESENTER

• Relied on notes for most to all of the presentation

• Seemed unsure of presentation

• Not prepared • Over time allowed for presentation

•Basic info nothing that seemed unique •Reads mostly from notes without a full understanding of company

•Opening and closing statements were strong and interesting.

•Unique way of presenting company

PAPER

Below Average

Basic Presentation

Above Average

CREATIVE WRITING

• Unclear and not prepared.

•Formatting was hard to follow. • Information was not clearly laid out in report

•Unique points of view and interesting concepts.

KNOWLEDGE OF COMPANY

• Needed more research

• Basic knowledge that was not inspiring about the brands

• Full understanding of company • Strong points shared in paper and back with facts and reliable resources

WRITING CENTER

• Did not consult with WC • No proof was turned in with report. • Do not email professor proof but include inside your report.

• Approved with confirmation from WC attached to paper.

PROFESSIONAL REPORT

• Paper clipped or stapled together

• Professionally bounded but mistakes on cover, table of contents or with title of project.

• Professionally bound and corrected thoroughly.