МИНИСТЕРСТВО ОБРАЗОВАНИЯ И НАУКИ РОССИЙСКОЙ ФЕДЕРАЦИИ

федеральное государственное бюджетное образовательное учреждение

высшего профессионального образования

«Российский экономический университет имени Г.В. Плеханова»

Факультет менеджмента

ПРОЕКТНАЯ РАБОТА

по дисциплине «Язык специальности»

по книге «Luxury Brand Management: A World of Privilege by Michel Chevalier»

Выполнила

Студентка группы 1450

Очной формы обучения

Факультета менеджмента

Шайдулина Регина Ренатовна

Научный руководитель:

Старший преподаватель, к.ф.н.

Минасян Ева Тиграновна

Москва, 2013

Contents

Introduction________________________________________________________________________ 3

1. The concept of luxury_____________________________________________________________ 4

1.1 A Problematic Definition_______________________________________________________ 4

1.2 The Advert of Intermediate Luxury ______________________________________________ 4

1.3 The Square of Veracity________________________________________________________ 6

2. The luxury client ________________________________________________________________ 7

2.1 Who are the luxury clients?____________________________________________________ 7

2.2 The new consumer___________________________________________________________ 7

2.3 Are clients from different nationalities are similar?_________________________________ 8

2.4 The RISC study________________________________________________________________ 11

3. Digital strategies in luxury management_____________________________________________ 12

Conclusion________________________________________________________________________ 18

References________________________________________________________________________ 18

Glossary__________________________________________________________________________ 18

Introduction

This course work is based on book “Luxury Brand Management: A World of Privilege” by Michel Chevalier and Gerald Mazzalovo. It was published in July 2012.

MICHEL CHEVALIER is an expert in luxury brand management and retailing. A consultant with EIM in Paris and a visiting professor of luxury marketing and retailing at HEC and Paris-Dauphine University in Paris, he is also the coauthor of Luxury Retail Management and Luxury China, both published by Wiley.

GÉRALD MAZZALOVO is Managing Partner at Aravis S.A., a private equity firm active in luxury brands. He is also visiting Professor at Instituto de Empresa (Madrid), Université Paris-Dauphine, and Université Lumière in Lyon. A former consultant at Arthur Andersen, he has held the positions of president or CEO at luxury companies such as Ferragamo, Loewe, Bally, and Clergerie, and has consulted many multinational firms such as Pininfarina on strategic brand management. He is the author of the book Brand Aesthetics and coauthor of the book Pro Logo.

It is a great book covering all the important aspects about luxury. Too often the business models and understanding of this industry are dismissed as "only about high prices." Nothing could be farther from the truth and this book proves that - the authors know what they are talking about. From the research, to the examples, to the theories and then conclusions drawn, this book has it all.

• Includes dedicated chapters focusing on each of the main functions of a luxury brand, including brand creation, the complexity of managing brand identity, the convergence of arts and brands, and much more

• Addresses the practical functions that can make or break bottom lines and affect brand perception, such as distribution, retailing, logistics, and licensing

• Focuses on brand life-cycle, brand identity, and licensing issues

My aims to write this individual project were:

1. What defines a luxury brand? Traditional wisdom suggests that it's one that's selective and exclusive—to such a degree that only one brand can exist within each retail category (automobiles, fragrances, cosmetics, etc.).

2. Analyzing of new layer and new approach to luxury clients.

3. Usage of digital strategies in Luxury management. With real-life examples and management tools that companies have successfully used.

1. The Concept Of Luxury

1.1 A Problematic Definition

What is luxury? The answer might seem simple but, upon further consideration, and as the multiplicity of definitions attests, it is clear that the luxury of one is not necessarily that of another.

What we commonly call luxury no longer has much to do with what was meant only a century ago, or, a little further from us, in the years before the Industrial Revolution.

We are not talking about objects of luxury. Needless to say, for example, a product like soap, a real luxury in the Middle ages, has become commonplace since then, and has therefore ceased to be a luxury in our eyes. We talk about the meaning of the word luxury. Today, we use it in a very different fashion from the way in which it was used in seventeenth century.

Etymology

Luxury is a keyword whose use is becoming more frequent in our daily lives. We encounter it in all media; we use it more often in our discourses (Google Trends shows that its use has doubled between 2004 and 2010).

There are two reasons for this explosion: Many brands have found that a luxury positioning adds to their competitiveness; and a majority of consumers have developed a positive attitude toward the products, services or experiences connoted by this feature.

The word luxury comes from the Latin “Luxus”, which means: “grow askew, excess”. Its root is an old Indo-European word that means “twist.”