Topic of ur choice Dissertation Example | Topics and Well Written Essays - 1750 words

Topic of ur choice - Dissertation Example Similarly the change in tastes of different people also brings about needed confusion. Luxury commodities around the world are taken to be those products which are priced highly above the average limits and reflect a very high standard of quality and designs embedded into it. The position of the luxury brands thus created should be made secured from the entries of average purchasers through the setting of high prices. Furthermore a sustainable approach to luxury brand management as with any brand is spontaneous innovation of its product and service quality to make the brand become the test of times (Principles of Luxury Brand Management, n.d.). Aims and Objectives Aims The main aim of the research paper centers on understanding the management pattern of the global luxury brands. It also aims at understanding the shift in the management styles of these companies with changing market and economic situations. Objectives To understand the management styles of luxury brand companies. To r eflect on the changes in management styles of such companies. To interpret the reasons for such changes. Endeavoring to present a practical study of such change in management styles through the use of case study. ... To this end, Quelch (2007) observes that the company should look forward to render a holistic approach of quality enhancement in the different product categories. In terms of design the brand must eke out a distinguishable factor which would work as the brand identification strategy amidst its various competitors. Quelch (2007) further states that the management of luxury brands around the world also focuses on restricted production activities to excite high consumer demand. The art of marketing the luxury brands signify the incorporation of the emotional element with the products of the brand to create a customer appeal for it. Personification of the brand is highly essential to reflect its uniqueness amidst other brand players competing in the same market. The marketing strategy must also highlight the region to which the brand belongs to. In total the management function of international luxury brands is carried out depending mainly on four different aspects viz. management of the product assortments of the luxury companies, managing the uniqueness in its design and communication patterns, managing the interaction of the company with its several customers and finally the management of the company’s distribution channels. Elucidating the above points, Quelch (2007) states that the management of the product lines of luxury companies earns considerable importance for setting high quality designs at reduced quantities. This is because the style and patterns of luxury commodities go on changing with changes in consumer perception of such items. Hence a focus must be rendered in sustaining its profitability in the light of increase in the production costs. Thus increase in the quantity of brand assortments and also in the sizes of individual