The luxury strategy : break the rules of marketing to build luxury brands / J.N. Kapferer and V. Bastien

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PART 1: Back to luxury fundamentals 1. In the beginning there was luxury A brief history of luxury The 20th century and the democratization of luxury Luxury, the individual and society Positioning of luxury in our present-day society Money, fashion, art and luxury: boundaries and ambiguities Luxury: learning from religion and art 2. The end of a confusion: premium is not luxury The multiple approaches to the concept of luxury Denying the specificity of luxury There is no continuous movement from premium to luxury It is not easy to exit luxury through a "downwards" strategy From where has the current confusion arisen? Towards a definition of luxury Exiting the confusion: the case of the car Relativity of luxury in cars Is automobile luxury the pursuit of perfection? Top-of-the-range, upper-premium and luxury cars The luxury car: creation, mythical models and social prestige What link does luxury have with technology? The constituents of the myth of the luxury car Luxury and expressions of national identity Beyond the product: services and privileges The magic of cult objects: licences and boutiques 3. Anti-laws of marketing 1. Forget about "positioning," luxury is not comparative 2. Does your product have enough flaws? 3. Don't pander to your customers' wishes 4. Keep non-enthusiasts out 5. Don't respond to rising demand 6. Dominate the client 7. Make it difficult for clients to buy 8. Protect clients from non-clients, the big from the small 9. The role of advertising is not to sell 10. Communicate to those whom you are not targeting 11. The presumed price should always seem higher than the actual price 12. Luxury sets the price, price does not set luxury 13. Raise your prices as time goes on in order to increase demand 14. Keep raising the average price of the product range 15. Do not sell 16. Keep stars out of your advertising 17. Cultivate closeness to the arts for initiates 18. Don't relocate your factories 19. Do not hire consultants 20. Do not test 21. Do not look for consensus 22. Do not look after group synergies 23. Do not look for cost reduction 24. Just sell marginally on the internet 4. Facets of luxury today On the importance of the "label" Luxury: the product and the brand The ingredients of the luxury product: complexity and work Superlative, never comparative Luxury and cultural mediation Luxury and history Luxury and time Tradition is not passéisme Luxury is made by hand Real or virtual rarity? Rarity and sustainability Luxury and exclusivity Luxury and fashion: an essential difference Luxury and art Luxury and charity PART 2: Luxury brands need specific management 5. Customer attitudes vis-à-vis luxury What is the size of the market? To be rich or to be modern? Heavy users and day trippers The four luxury clienteles A strong axis of segmentation: sensitivity to the product or to the logo? A second axis of differentiation: authentic does not always mean historical A third axis of differentiation: disruption or integration? How countries differ in their attitudes Why are Western luxury brands globalized? China today and tomorrow Why India resists Western luxury Russia: the psychology of oligarchs 6. Developing brand equity There is no luxury without brands Managing luxury by the brand Products, experiences and brands A luxury brand is a real and living person A luxury brand has roots The luxury brand must radiate No life cycle for the luxury brand A legitimacy created from authority, class and creation, more than from expertise The financial value of luxury brands The core of the luxury brand: its identity Building brand coherence at contact points: central and peripheral identity traits Two modes of luxury brand building Building the luxury brand: the dream equation The luxury brand compass: architecture of product roles Luxury brand equity in the digital era Why and how does the digital world challenge luxury? Managing the dream through communication Defending the brand against counterfeiting Counterfeiting as a way to diagnose the health of the strategy of the brand Always defend your rights and communicate frequently 7. Luxury brand stretching Luxury expansion through line extensions and brand extensions The origins of luxury brand stretching Luxury stretching: a practice that has changed the sector Comparing the Italian and French models of extension Two models for extension: vertical or horizontal? The pyramid The galaxy Success factor of luxury extension Typology of brand stretchings Leading a brand stretch Growth by stretching: the Mont Blanc case Stretching: preserve coherence, but be creative and unexpected Maintaining brand identity across sub-brands: the Armani case Building credentials in a new category: the Chanel case The risk factors of brand stretching Controlling the boomerang effect of brand stretching 8. Qualifying a product or service as luxury No product without service The luxury product and the dream Functionality and dreams do not follow the same economic models The luxury product is not a perfect product, but a sacred product Luxury product and competitive universe Luxury product and time Occasion of use and perception of value Lasting a lifetime … and beyond Prolonging the ecstasy of a privileged moment Adapting to its time Structuring the luxury range: how is the range of a luxury brand organized? Innovating through a new product range Don't sacrifice the past to the future A mode of production as a lever of the imaginary The opposition between luxury and relocation Licences signal the departure from luxury The challenge of luxury services: creating the gap 9. Pricing luxury What about price elasticity? Increase the price to increase demand and recreate the distance What price premium? Fixing the price in luxury Managing the price over time No sales in luxury Price reductions The price and its communication The price is not publicly advertised The price must be sold Price: the two challenges of the luxury strategy 10. Distribution and the internet dilemma Luxury is in the distribution You sell to someone before you sell something It is the price, not the product, that is sold to the client The sales personnel should never earn direct sales commission Distribution shows that the brand dominates clients, but respects them Distributing is first of all about communicating Distribution should not only show off, but should even enhance the product image It is distribution's job to communicate the brand's price level A luxury purchase is a lengthy act Distribution is luxury's weak link The choice of a new sales point cannot be delegated Distribution must manage rarity Distribution protects you from competition Luxury and mode of distribution Luxury and internet distribution (the internet dilemma) Luxury brands: when, what, and how to sell on the internet 11. Communicating luxury You communicate to sell You communicate because you sell You don't talk about money You communicate, you don't advertise No personalities in the advertising The role of brand ambassadors Building the social driver of desire Permanently encourage word of mouth What balance should there be between local and global communication? The internet and communication in luxury The unique codes of luxury communication Making the brand's visual language denser: the nine signatures of the brand Making the brand denser through tales, stories and rumors Adapting the communication register to the type of luxury The dialectic of the local and the universal 12.

Financial and HR management of a luxury company Financial issues in luxury companies Luxury and profitability Globalizing Luxury, volume and profitability Managing the human capital in luxury PART 3: Strategic perspectives 13. Luxury business models Luxury products with a profitable core trade What are the pitfalls to avoid in this working model of a luxury product with a profitable core trade? Luxury products with a too-restricted core range The perfume business model The business models of luxury trades with very high overheads The "high-tech" business model (highly innovative industry) Crises and luxury business models 14. Entering luxury and leaving it Wanting to be luxury is not enough: the conditions of luxury Why envisage a luxury strategy? Start small and become profitable Once profitable, grow quickly Acquiring an existing brand Departing from luxury The end of a luxury brand Taking a brand out of the luxury universe Leveraging the image in a low-cost strategy 15. Learning from luxury Luxury concerns all trades Understand the rules in order to adapt them How Apple follows a luxury strategy Luxury according to MINI Mixed strategies Managing a luxury strategy in B to B Luxury marketing as the future of traditional marketing What marketing issues of today could luxury marketing help to resolve? The Lacoste example Learning from luxury 16. Luxury and sustainable development: convergences and divergences Luxury and sustainable development Adopting the luxury strategy to foster sustainable development