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Rise of affordable luxury consumption

In past few posts, I have discussed the impact of recession on luxury consumption. In two of these posts (Luxury consumption: will it really be affected by recession? and Luxury Consumption Tendencies in Recession: Early Evidence) looking through an exploratory study, I opined that the overall luxury consumption will not decline as much in this recession due to several factors including, mass consumption trends, tourism trends and the rise of emerging markets.

The mass consumption trends have shown an interesting consumption trend overall which has been termed ‘the lipstick effect’. The effect relates to tougher economic conditions when consumers [Read Story]

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Luxury marketing: exploiting the heritage code of luxury brands

Marketing luxury brands is significantly trickier than regularly purchased brands. In this regards, many luxury brands from Europe seem to be stepping up a new kind of luxury marketing activity - exhibitions in prominent museums. For example, “Inspiration Dior” exhibition at the Pushkin Museum, Moscow; “Culture Chanel” at the Museum of Contemporary Art Shanghai; and Louis Vuitton “Voyages” exhibition in the National Museum of China. This exercise bags a question as to can this create a win-win situation for luxury brands and museums? In the following paragraphs, I shall share my views on marketing luxury brands through exhibitions.   A [Read Story]

2012 IMRA Emerging Markets Conference in London

      International Management Research Academy (IMRA) 2012 Emerging Markets Conference Emerging Markets and the New Dynamics of Management Since centuries, it has been perceived that, the western world is at the forefront of innovative theories and practices in management. Last two decades have evidently demonstrated that now it is no more the hegemony of the developed world in contributing towards management art and science. The BRICs (Brazil, Russia, India and China) and other European countries are now emerging as sunrise economies and are offering new dynamics of management. Be it grassroots level technologies or socio-economic development, the emerging [Read Story]

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