MA Luxury Brand Management Module Descriptions

Research Skills and Methods

The Luxury Brand degree requires students to use a range of skills involved in conducting small and larger-scale research projects across all modules This module specifically introduces students to the skills, appropriate methods and techniques for conducting and evaluating research. The emphasis is on preparation for the dissertation or consultancy project, which are part of the programme. The lectures and workshops are designed to identify and demonstrate research skills, methods and techniques appropriate for the writing of these projects.

Principles of Luxury

In order to engage with luxury brand management, it is crucial for students to understand the concept of luxury itself. This module provides a platform to explore the notion of luxury, its conception, its influences and historical positioning. It delves into the interplay between need and desire, and its impact on formulating the idea of luxury. It explores the importance of luxury as a value in the society's versus the individual's self-definition process of identity construction.

Positioned on such foundations, the notion of a luxury brand is developed, where the module curriculum supports the investigation of the creative processes communicating luxury and how a brand attains luxury status.

Furthermore, by probing into the cultural significance of luxury and the cultural fabrication of the sensual and prestigious, the module looks at the cultural definition of luxury and how it is created and used in an organization. Upon successful completion of the module, students will be able to develop their own conceptual framework for defining and questioning what luxury is and its implications for brand management.

Intellectual Property Law

The emergence of intellectual property as a foundation of the information age, and its role in securing the diverse benefits of the new digital technologies in industry and commerce are imperative to the areas of luxury design and brand management (GUCCI case 2009 Hong Kong, Google case in the UK, 2009 and Trademark cases in Australia 2009), where creativity and innovation are at the forefront.

This module will delve into these 'global' issues surrounding luxury brands, examining, exploring and critically appraising the ever-growing interest in protecting 'intellectual rights and ideas', whilst highlighting this important link between business and design with luxury brand management.

Marketing Management of Luxury Brands

This module critically analyses and reflects on the marketing strategies of Luxury Brands in a variety of industry sectors, and provides a rigorous outline for the effective management of luxury brands. The module rationalises and critiques luxury brands which have become extremely profitable through the use of their particular marketing strategies. The module looks at the differences in marketing luxury branded products and services from what happens at the mass market level.

The module addresses the limitations and difficulties of target marketing and segmentation for luxury brands, as they need to be overcome in order to make the tactical decisions around issues such as positioning. This raises questions surrounding the fundamentals of traditional marketing concepts, and turns the basics of marketing upside down.

The Four Cs model is more consumer-oriented and attempts to better fit the movement from mass marketing to the niche luxury market and satisfying the consumer. Furthermore Luxury Brands need a specific approach to marketing management, (particularly in new markets such as China and India, as addressed in the module). Finally the module will consider the need to sustain status whilst achieving profitability.

Financial Management

This module introduces students to the requisite skills and appropriate methods/techniques for understanding, evaluating, and conceptualising various financial aspects in a particularly strong context: the luxury brand. The module aims to prepare students for the management of luxury brands, by developing and improving key skills in management from a finance point of view, regressively connected to other aspects of management in general. Students will be expected to practice and apply these skills in the seminars/workshops.

The seminars/workshops are designed around a central focus on developing skills and acquiring knowledge to conduct financial management in luxury brands and the ability to help you learn and validate various elements of finance, and generate ideas for the dissertation in the broader MA context. The purpose of the module is to provide an overview, discussion, and practice on the main aspects of finance in luxury brands, which could also be used as a basis for the MA dissertation.

Consumer Behaviour

Consumer behaviour within the context of the consumption of luxury products and services is complex and is influenced by many factors. A thorough analysis and understanding of these factors allows organisations to plan effective marketing activities suitable to their target markets.

This module enables students to understand the importance of consumer behaviour in the process of marketing luxury goods and services. A variety of key aspects contribute to this understanding.

Firstly, the module aims to establish an appreciation of the individual psychological factors that influence the purchase of luxury items such as apparel and jewellery, and services such as holidays and fine dining.

Secondly, this understanding is further developed by an examination of the environmental factors that guide and induce conspicuous consumption such as the role of reference groups in forming attitudes towards the acceptance of luxury brands.

Thirdly, the processes of consumption behaviour, or the chronological stages that customers progress through when searching for, deciding upon, purchasing, consuming and disposing of luxury goods will be examined. The module focuses upon the importance of value and retention-focused marketing when dealing with the consumers of luxury products, in order to both support premium pricing and encourage repeat purchasing.

Managing Luxury Brands

This practically focused module explores how one develops and applies brand identity, design process and brand development within a unique framework of luxury branding. This also includes the marketing of luxury services, which is wide in terms of specific areas of growth in the luxury arena from financial services, leisure tourism and hospitality, and concierge services, most of which have a strong international dimension. Products in the design sense such as fashion, automotive, luxury packaged goods and lifestyle products for example, will also be examined in this context.

This module analyses the methods of sustaining and developing a brand’s iconography and expressive perspective through design management. Students learn the identification of a luxury brand's DNA and the application of such into new ventures and developments. Craftsmanship is the hallmark of all luxury brands and services, and all should extol the qualities, values and standards that belong to the brand. Furthermore the communication of a brand is studied from the prospective of the image and the management of its contact to market.

Students learn how marketing and creative industries can work together in communicating a luxury brand. The program illustrates the transfer of designed luxury and messages from the brand's product or service to the transition in the market; and the translation from conception to brand launch.

Contemporary Issues in Luxury Brand Management

Currently, providers of luxury goods are undergoing a paradigm shift in the way in which organisational processes are conducted: all the way from the creative process, manufacturing processes, creating a sustainable product identity, to the product launch process and other marketing processes.

What was once a market with small manufacturers and family-run businesses purely catering for royalty and aristocratic figures, has now been shaped by many influencing factors, most importantly by: globalisation and emergent markets where demand for luxury products is increasing exponentially in some cases; the vast increase of wealth around the world and the creation of what is termed the "super wealthy segment"; the widely accessible credit allowing middle-class segments access to luxury products. This has many implications due to the problematisation which conspicuous consumption motivations run into as a result of the dissonance caused in terms of status signals.

This module enables students to understand the problems which are unique to the current luxury market. This includes processes which impact organisational identity and positioning in the market such as distribution, pricing, communication tools, product development processes, and customer relation management among other activities, which can impact the "luxury" quality of the brand.

Students will be heavily engaged in research-based activities in order to gain an in-depth appreciation of the current and future trends, issues, and challenges existing in the luxury market.

Integrated Marketing Communications

Marketing communications are vital in supporting any brand, but they are especially relevant for luxury brands due to the fact that the market is very mature, with established and new players competing for a very sophisticated customer.

Luxury brands exist in a unique market niche, requiring a much more targeted approach to marketing communications, in order to create a firm positioning strategy. Thus, the integrated marketing communications would give 'one voice' to the once separated marketing communications mix and enable a luxury brand to create and communicate the singular identity to the chosen consumer.

Luxury brands are now able to capitalise on a variety of marketing communications tools, incorporating traditional means of advertising and public relations, personal selling and product endorsement, as well as sponsorship and the digital medium. As the market evolves, it is vital to understand the benefits of each of the marketing communications tools in order to create a strong single image for a luxury brand.

Creative Foundations of Luxury Brands

Creative foundation is the work of an individual or group and is the essence, and origin, of a luxury brand. This foundation is the seeding of luxury products/services as the new venture from which the brand will emerge. This module is the exploration of the creative vision translated into a business. The key aspect of the module is the practical application of skills in identifying original ideas that have value in the luxury market.

The module is the process from ideation to application in fostering creative individuals/groups, and the management of knowledge in an entrepreneurial context.

Distribution and Channel Management

Problems arising as a result of poor communications between marketing and sales executives often result from a poorly designed or implemented distribution channel strategy. A well-designed distribution channel strategy takes into account the linkages between both the sales teams' activities with channel partners and the marketing management teams' efforts to improve how the service reaches end users - the customers and consumers.

This module addresses the specific needs of luxury consumer goods and services companies selling through highly selective channels, as well as other intermediaries seeking to preserve their role in this increasingly fluid channel structure. The module demonstrates how to build a consistent framework which unites both marketing and sales efforts in a collaborative learning environment.

Endorsement and Sponsorship of Events

This module provides an overview of endorsement and sponsorship within a variety of luxury brand industries and markets, including the automotive sector, clothing, jewellery, travel and tourism sectors. Students will investigate how, given current tough economic trading conditions and competitive marketing environments, organisations frequently use endorsement and sponsorship to strategically target different consumer groups, and evaluate the success of such activities.

The module examines ways in which business organisations use sponsorship to raise or increase brand awareness, build an image, and maintain relationships with stakeholders, not only to achieve corporate or marketing objectives, but to help organisations in their continuous striving for business continuity.

Furthermore, it investigates the origins and current developments of sponsorship and endorsement, and analyses the place of sponsorship within an integrated marketing communications mix. Additional discussion is given to sponsorship and endorsement as a set of rights, and proposes the development of effective sponsorship programmes within the organisation's communication strategy.

Consultancy Project

In this module students will undertake a work-based project in a sector of the luxury brand market. Students are expected to undertake research into a problem or issue related to Luxury Brands, and devise recommendations that are likely to benefit the organisation and/or industry sector. At the end of the project placement, the participating student will have undertaken a reflective journal, applied, researched and written a report that is practical and useful for the placement organisation. Further to this, students will undertake a presentation to both module tutors and representatives of the placement organisation.

Dissertation

At postgraduate level students need to demonstrate their ability to critically evaluate current research and demonstrate self-direction in identifying and tackling problems of a complex nature. The dissertation gives students on this programme the opportunity to demonstrate independent thought and evaluation, yet with the help of and under the guidance of a supervisor.

Students choose a topic that may be related to their career aspirations and bring together the knowledge and understanding gained through the various modules on the programme to identify a problem, investigate and throw light on their chosen topic, drawing in particular on the skills developed in the Research Methods module in their consideration of the appropriate methodology, and drawing on current research and advanced scholarship in the discipline.

Page last updated 5/25/2010