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Fashion & Luxury Goods

Course features Language of instruction: English Modality: On-Campus ECTS credits: 6 Contact hours: 25 Summer School certificate: Fashion & Luxury Goods issued by TBS Barcelona.

Description  Managing a business in the ever-evolving markets of design, fashion, and luxury goods is a complicated task that involves a sophisticated handling of creativity and corporate image whilst meeting the challenges of an often-volatile market. Managers must also focus on pursuing long-term profitability through sound marketing strategies and efficient distribution plans, as well as sourcing quality products, to name just a few of their varied tasks.  This course is ideal for those who want to examine the management of fashion and the luxury goods sector from a business perspective, as it aims to provide students with a deeper understanding of these interrelated areas, with a key focus on specific concepts in marketing and brand management.    Learning outcomes  At the end of the course students will:  

✓ Understand the importance of the retail business in the fashion and luxury goods industry  ✓ Know how to manage the in-store life cycle of fashion and luxury products  ✓ Have an understanding of how to promote and merchandise fashion and luxury products  ✓ Understand how to implement a marketing strategy for a luxury brand  ✓ Understand differences in consumer behaviour  

 Methodology  

✓ Lectures  ✓ Case studies  ✓ Class discussions  ✓ Recent articles  ✓ Relevant videos  

 Assessment  

✓ 10% Class participation  ✓ 20% Individual and/or group assignments  ✓ 20% Final project  ✓ 25% Mid-term exam  ✓ 25% Final exam  

 

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Academic contents  A. Principles of luxury

a. Definition of luxury b. “Luxury experience” c. Characteristics of luxury goods d. Symbolism of luxury goods

 B. Marketing for fashion and luxury goods

a. Introduction to the fashion and luxury goods markets: size; structure; macro, meso and micro environments; the concept of luxury; major luxury sectors

b. Understanding the fashion and luxury consumer: consumer trends; the consumer decision-making process; consumer behaviour; the organizational buyer; strategic implications for fashion and luxury brands

c. Market research and segmentation: forecasting fashion trends; international market research; luxury segments; consumer lifestyles

d. Designing and marketing fashion and luxury products: new product development; product mix; life cycle; creating and managing luxury brands

e. Pricing fashion and luxury products: pricing decisions; price elasticity; pricing strategies

f. Distributing fashion and luxury products: fashion and luxury retailing; preferences of fashion and luxury shoppers; store location and concepts; upscale retailing; e-tailing; logistics; licensing

g. Communicating fashion and luxury products: communication mix – how luxury can become a necessity; visual marketing; new directions in the communication of fashion and luxury products; e-tail strategy; global vs. local communication

h. Fashion and luxury marketing planning and strategy i. Internationalization of fashion and luxury products: who, when, why and how j. Luxury and corporate social responsibility: ethics; sustainable luxury

 C. Luxury brand management

a. Marketing management of luxury goods: key success factors; effective communication and advertising; marketing in fast-growing markets

b. Consumer behaviour: attitudes towards luxury; the consumer decision-making process; differences in culture

c. Challenges