Marketing Of Luxury Brands, Vertu Case
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Date
2008
Authors
Journal Title
Journal ISSN
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Publisher
Istanbul Univ
Access Rights
info:eu-repo/semantics/closedAccess
Abstract
Consumer goods are classified according to the consumer buying behavior as convenience goods, shopping goods, luxury (speciality) goods and unsought goods. All of the goods have different marketing strategies. The purpose of this article is to explain the highly growing market of luxury goods, because of increasing mass production, materialization of social values and growing consumption culture. Firstly, the meaning of luxury and luxury brand, the categories and features of luxury brands are introduced. Depending on this basic data, the nature of luxury brand puchasing consumers and their motivation of being in an act of conspicuous consumption are investigated. Then, the rarity principle of luxury brands is analysed in four categories as natural rarity, technological rarity, limited editions and information based rarity. As a case study, Vertu mobile phone is chosen among the other mobile phones because of its differentiating feature of being the first and unique handmade phone. Accordingly, the luxury goods marketing strategies are examined in three main principles as target market and segmentation, positioning and marketing mix, In conclusion, developing world economy and the increasing per capita income affects the consumption of luxury goods in a positive way and so companies build up their luxury goods market.
Description
Keywords
Luxury brand, marketing, conspicuous consumption
Journal or Series
Istanbul Universitesi Iletisim Fakultesi Dergisi
WoS Q Value
N/A
Scopus Q Value
Volume
Issue
31
