Background/problem: Many business and industries have been hardly influenced of the occurrence of this financial crisis which is expected to be the worst financial crisis since 1929. Historically the luxury business has always been immune to uncertainties and crisis. It is of great interest to see how the luxury business reacts in the financial crisis from a marketing strategy perspective. Purpose: To explain the impact of the financial crisis on the luxury business by using and identifying the nature of luxury and the suitable marketing strategies. Methodology: A deductive philosophical approach and a positivistic and interpretative research approach are applied in this thesis.Findings: The luxury business has not been influenced by the financial crisis based on the interviews. The main reasons behind it are interpreted as the nature of luxury itself and its unique customers. Conclusion: Based on our study and the involved companies, it is assumed that the luxury business is invulnerable to the financial crisis.

Syfte: Meningen med studien är att bidra med en större förståelse och förhoppningsvis nya insikter om konsumtionen av lyxprodukter inom matbranschen genom att integrera redan existerande teori med empiriskt material. Syftet är att ur ett företagsperspektiv beskriva hur en förståelse för konsumententbeteende kring exklusiva matprodukter kan användas i marknadsföringen av dessa produkter.Studien riktar sig till människor, forskare samt organisationer som är intresserade av marknadsföring av lyxprodukter, men är även riktad till människor med intresse för nutidens konsumtion. Vidare motiveras studien ur ett etiskt perspektiv genom att belysa fenomenet kring dagens konsumtion och göra konsumenter medvetna om drivkrafterna bakom sitt beteende.Problemformulering: Hur kan företag som säljer exklusiva matprodukter använda förståelsen för konsumenternas beteende i sin marknadsföring? Vad kan vara bakgrunden till att konsumenter väljer att konsumera högkvalitativa och exklusiva matprodukter? Hur kan företag kategorisera in dessa konsumenter i olika konsumentgrupper? Var och vid vilka tillfällen väljer dessa konsumenter att konsumera exklusiva matprodukter?Metod: Studien är en kvalitativ studie där en kombinerad fall- och tvärsnittsstudie är genomförd. De data som samlats in och ligger till grund för studiens resultat och slutsats är genomförd genom litteraturstudier, intervjuer samt en frågeenkätundersökning. Företagsrespondenterna som medverkade i intervjuerna samt enkätundersökningen är verksamma inom branschen samt har en dokumenterad erfarenhet av exklusiva matprodukter.Resultat och slutsatser: Det finns olika anledningar till att konsumenter väljer att konsumera exklusiva matprodukter, det vi har kommit fram till är att alla konsumenter gör det av emotionella och självuttryckande värden som grundar sig i olika externa och interna ambitioner. Utefter våra resultat valde vi att dela in konsumenterna i fem olika grupper baserat på konsumentbeteende: traditionalisterna, matälskarna, prestigesökarna, trendsättarna samt de utåtriktade konsumenterna. Dessa olika konsumentgrupper väljer att konsumera exklusiva matprodukter vid olika tillfällen samt av olika emotionella eller självuttryckande anledningar. Marknadsföringen kan utifrån en förståelse för konsumenterna anpassas och utformas till olika konsumentgrupper, rikta sig till fler målgrupper och på det sättet förhoppningsvis göra marknadsföringen mer effektiv utifrån ett företagsperspektiv. / Purpose: The purpose of this study is to contribute to an understanding and hopefully new insights about the consumption of luxury goods within the food industry by integrating existing theory with empirical material. The purpose is that from a business perspective describe how an understanding of consumer behavior can be linked to the consumption of exclusive food products and how this can be used in a marketing perspective of these goods.The study is aimed to benefit people, researchers and organizations that are interested in marketing of luxury goods, but also to people interested in today’s consumption. From an ethical perspective, the study is motivated by illustrating the phenomenon of today’s consumption and making consumers aware about the forces behind their own behaviour. Research question: How can companies that offer exclusive food products use the understanding of consumer behavior in their marketing?What can be the underlying reasons for consumers choosing to consume high quality and exclusive food products? How can companies categorize these consumers in different customer groups? Where and in what occasions do these consumers consume exclusive food products?Methodology: The study is executed through a qualitative approach where a combined case and cross-sectional study is conducted. The material that has been gathered as the fundament of the papers results and conclusion is made through literature studies, interviews and a questionnaire survey. The respondents of both interviews and the questionnaire survey are people active in the business and have recognized experience from the food industry.Results and conclusions: There are various reasons why people choose to consume exclusive food products, what we have come to is that all consumers do this of emotional and self-expression values that are based on different internal and external ambitions. Based on the results we have gathered in this study we chose to divide the consumers in five different groups based on consumer behaviour: the traditionalists, food lovers, prestige seekers, trend-setters and the outward consumers. These different groups of consumers choose to consume exclusive food products at different times and by different emotional or self-expressing reasons. With an understanding of the consumers the marketing of these products can be adapted and designed for different consumer groups, be targeted to a broader audience and thus hopefully make the marketing more effective from a business perspective.

As the Chinese luxury market has become one of the biggest in the world, this thesis seeks to investigate the relationship between the luxury perception of Chinese consumers and their willingness to buy under the price reduction. Drawing from Wiedmann’s concepts of luxury values, we propose a framework to measure the luxury value perception of Chinese consumers through the functional, individual, and social dimensions.   We conduct a quantitative research and collect 315 valid questionnaires from Chinese luxury consumers. In questionnaires, we ask them to rate the perception of luxury goods and their willingness to buy when the price is reduced by 20% and 40% respectively. We perform multiple linear regression with SPSS. The results show the value perception in the individual dimension has positive impact on the willingness to buy, and the more price is reduced, the more impact it will have, whereas, the value perception in the functional dimension is not significantly related to the willingness to buy under both price reductions. The value perception in the social dimension is positively related to the willingness to buy when the price is reduced by 20%, but there is no significant relationship when the price is further reduced by 40%.

Ao se pensar em produto de vestuário de moda luxo, tem-se como premissa um alto valor agregado que expressa uma qualidade diferenciada e quase exclusiva. Surgem questionamentos sobre a manutenção da qualidade de um produto de moda luxo diante seus processos terceirizados de desenvolvimento e produção. O aumento da utilização da estratégia de terceirização de processos que não compõe o core business das empresas se fez presente no setor de moda. As confecções de moda com caráter de luxo no Brasil não fugiram à regra, e passaram a terceirizar algumas partes de seus processos de desenvolvimento e produção com o objetivo de aumentar sua capacidade produtiva. Partindo do exposto o presente estudo tem como objetivo estudar o produto de moda luxo e sua qualidade a partir da terceirização. Para tal foi estudado o luxo, seus conceitos e parâmetros, produto de moda luxo, qualidade deste produto, seu processo de desenvolvimento e produção, buscando identificar possíveis inadequações com base em um estudo de caso. Em relação aos procedimentos metodológicos, a presente pesquisa é caracterizada como exploratória, bibliográfica, documental e estudo de caso. O instrumento para coleta de dados foi observação de campo acompanhada de entrevista semiestruturada aplicada com indivíduos que tenham contato direto com o desenvolvimento e produção de produtos de vestuário de moda luxo, utilizando como estudo de caso uma marca de moda luxo renomada localizada na zona oeste da cidade. Percebe-se que há uma diferença entre os parâmetros do que é moda luxo para o consumidor nacional e internacional, e que de alguma forma a terceirização influencia na qualidade do produto final de vestuário de moda luxo no Brasil / When thinking of luxury garments, there is a premise of a high added value and near exclusivity. Questions arise as regards to sustaining the quality of a luxury fashion product with its outsourced processes of development and production. The increased use of an outsourcing strategy for processes that do not make up the core business of enterprises has been present in the fashion sector. The luxury fashion manufacturers in Brazil did not escape the rule, and began to outsource parts of their development and production processes in order to increase their production capacity. From the aforementioned, the present paper aims to study the luxury fashion product and its quality with outsourcing. To that end, luxury was studied, taking into consideration its concepts and parameters, the luxury fashion product, the quality of this product, its development and production processes, seeking to identify possible inadequacies based on a case study. Regarding the methodological procedures, this research is characterized as exploratory, bibliographical, documentary and as a case study. The instrument for data collection was a field observation along with a semi structured interview with individuals who are in direct contact with the development and production of luxury fashion apparel products, using as a case study a renowned luxury fashion brand located in the west borough of city. What has been gathered is that there is a difference between the parameters of what is luxury fashion for national and international consumers and that somehow, outsourcing influences the quality of the final luxury fashion apparel product in Brazil

This thesis is basic overview of luxury sector in the international environment. The paper deals with the development of international luxury markets and examines the impact of global economy on the overall performance of the luxury sector. It also explores the issue of democratization of luxury and degradation of luxury brands affected by the wave of globalization and the expansion of luxury brands on emerging markets.

Bakgrund och problemdiskussion: Lyxvarumärkesföretag har börjat undersöka implementering av en strategi som erbjuder livslångt kundvärde. De har även visat intresse som tyder på att de vill tillämpa CRM-policys men är osäkra till hur stor del den går att tillämpa inom lyxindustrin. Vi har med inspiration från artikeln ”Is CRM for Luxury brands?” Cailleux, Mignot & Kapferer (2009) konstaterat att det existerar ett problem med den traditionella CRM som inte förstår ”luxury management” och de exakta implikationerna. Då begreppet CRM anses vara otillräcklig samt bristande vid tillämpning på lyxvarumärken anser vi att CRM inte är en optimal affärsstrategi för den sortens företag. Syfte: Vårt syfte med studien är att förstärka och komplettera CRM ur ett lyxperspektiv. Ambitionen är att utveckla existerande teori samt skapa en modell som är anpassad för lyxvarumärkesföretag. Vidare vill vi även tydliggöra de skillnader som existerar mellan klassisk CRM och LCRM. Metod: Uppsatsen har en teoretisk utgångspunkt och behandlas ur en kvalitativ metod tillsammans med respondenter från fallföretaget som besitter gedigen erfarenhet och ansvarspositioner inom lyxindustrin. Slutsats: CRM är inte en tillräcklig strategi att applicera mot lyxvarumärkesföretag då den inte är justerad för att tillgodose lyxvarumärkesföretagens plattform. Den utvecklade teorin LCRM har testats genom en empirisk studie och verifierats till att vara en lämplig strategi för lyxvarumärkesföretag. Genom en tillämpning av LCRM kan lyxvarumärkesföretag nå en ökad kundlojalitet ur ett långsiktigt  perspektiv. / Background and problem discussion: Luxury brands have begun to explore the benefits of an approach to create lifelong customer value. They have also shown interest in implementing CRM policies but are unsure how suitable it is for their market. The article “Is CRM for luxury brands?” Cailleux, Mignot & Kapferer (2009) has been used as an inspiration in this study as the article has found that the existing traditional CRM does not understand "luxury management" and the precise implications, i.e., how luxury brands want to expand while maintaining their prestige. Since the concept of CRM is considered to be insufficient and inadequate for the purposes of luxury brands, we believe that CRM is not an optimal business strategy for the type of business. Purpose: The purpose with this study is to enhance and supplement the strategy CRM to meet the luxury industry needs. The ambition is to develop existing theory and create a model that is suitable for luxury brands. Further, the purpose is to clarify the differences between CRM and LCRM. Method: The paper is theoretically based with a qualitative approach with respondents in leader positions and extensive experience within the luxury industry. Conclusion: CRM is an insufficient strategy to apply for businesses within the luxury industry because it does not understand the platform of a luxury brand. The developed theory LCRM has been tested through an empiric study and has been verified as a suitable strategy to apply for luxury brands. Through an implementation of LCRM luxury brands can achieve a higher customer loyalty in the long run.

Thesis (MBA)--Stellenbosch University, 2015. / ENGLISH ABSTRACT: This research study has sought to gain a deeper understanding of the manner in which the ultra-luxury travel sector interprets the concept of customer value and how they go about designing an offering of potential value to the customer. In turn, the study explored the manner in which the traveller extracts value from the offering. There is a definite element of ambiguity to the precise meaning of the word ‘luxury’. Researchers have traced its meaning and developed frameworks to define the type of value it offers to the consumer. Ubiquitous to the delivery of the luxury good or service, is the significance that an individual will attach to it. The consumption of luxury will always be an experience – in one form or another. With the passing of time and globalisation of companies, the luxury good has become ‘democratised’. This massification of luxury has resulted in layers of offering, appealing to various categories of consumer; from the connoisseur and consumer of rare, niche products, to the bling young professional sporting a designer bag. This has created greater debate around the definition of luxury. Further frameworks have been developed to identify the types of value within the luxury offering that would appeal to the different categories of luxury consumer. The process of value creation has evolved from a firm-centred model to one where the customer is central. The focus is on identifying customer needs, and then delivering them via the use of firm competencies and capabilities. The lens of the value creation process has widened to include means of identifying potential for firm value creation pre and post consumption of the offering. The luxury travel sector generates a significant spend. As an industry that is intensely customer-centric, it provides the perfect vehicle to examine how the industry seeks to understand the guest, and in turn, deliver value. A qualitative, multiple case study methodology was employed to examine four luxury properties in South Africa. Employees and independent consultants within the industry were interviewed. The results yielded a coherent message of passionate engagement with the product and the guest. The surprising element was the employee’s fierce commitment to the luxury asset and their pride in the owner. The element of sustainability featured strongly as, whilst every effort was made to give the guest a magical experience, this was not done at the expense of the underlying asset. There will always be an element of experience attached to the immersion in a luxury product or service and the luxury travel industry is no exception. Experiential travel has been a driving force within the industry for many years. As this evolves, the pressure to plumb greater depths of meaning and create significant shifts in ‘being’ has developed. The industry is ripe for creative collaborations and new partnerships in order to deliver life-long memories to the luxury traveller. Technology has been a disrupter within the luxury value chain and tour operators and travel agents find themselves competing with online travel agents. Those who survive are those who deliver highly personalised, creative and bespoke offerings. Social media is another area of potential innovation. The Millennial traveller will soon command the lion’s share of luxury spending. They are highly connected and desire authentic, fun experiences. Luxury accommodation has also suffered the ambiguity attached to the definition of luxury brands in general. The 5-star hotel which once commanded pride of place as the highest level of accommodation has been usurped by private luxury properties, boutique and destination hotels. The potential exists to apply the lenses of luxury value frameworks in order to provide greater clarity to the type of offering they deliver to the luxury traveller.

published_or_final_version / Business Administration / Master / Master of Business Administration

The current research explores how luxury brand mentions impacts consumer culture. Specifically, the social, cultural, and economic implications of such mentions when integrated in reality television is investigated. Exploring this phenomenon is important as consumers are afforded several options to skip or avoid advertising when viewing television. Hence, consumers are now exposed to brand mentions that are integrated in media by advertisers who aim to combat the advertising avoidance. Generally, brand mentions are depicted in media as inexpensive, convenient products, such as household goods or food products. But with the emergence and popularity of reality television, consumers are now exposed to those brands, in addition to luxury brands. This is true as brand mentions financially support production costs for many reality television programs and also serve as aspirational props. Luxury brand mentions are worthy of study as they exude exclusivity and status and are traditionally targeted to a niche, elite market. As luxury brands are integrated in reality television, a broader, more diverse consumer audience is exposed to such mentions. This research is one of the first to specifically explore how luxury brand mentions appear in reality television. Using the consumer culture theory framework, two studies were conducted to understand the nuanced meanings of such mentions among consumers. Study One explored the integration of luxury brand mentions using a content assessment. Study Two used depth interviews to gauge consumer response to such mentions. Study One results indicate luxury brand mentions are highly prominent in affluent-lifestyle reality television shows. Five of the most frequently mentioned luxury brands represent the automobile, entertainment/technology, and hospitality product categories. Overall, the promotion of materialism, aspiration, and elitism were messages consumers were exposed to. Study One results were supported by findings in Study Two which revealed informants’ race, class, and gender as strong influencers of their interpretations of luxury brand mentions. / text

What is next for the luxury experience when autonomous technology is replacing your private chau eur and there is no need for improving the performance of a vehicle? What if consumers simply get bored of rare and expensive materials as the only reference to luxury? There is a potential to change the mindset and rethink the value of mobility. As it is already happening, people start to treasure experiences rather than ownership. Vehicles play multiple important roles in our lives and some of our most precious stories can happen during a ride. Inspired by such insights, this project pushed the boundaries to envision a new kind of luxurious mobility experience designed to be slow. Research, ideation, storytelling, 3D modelling and visualisation were used to propose a shared airborne mobility service for the megacity. A system composed of dirigibles and docking stations, inspired and fictitiously operated by the Lexus brand.