Topic: Luxury brand & consumer behaviour strategy

Claudia Behnke

Through the M088LON Consumer Behaviour in the Luxury Sector module you will be introduced to the study of consumer behaviour with a particular focus on the luxury sector. You will look at what stimulates different consumer behaviours and how these are used in the marketing of luxury goods and services (for example fashion). You will examine, consider and critique this together with the applications of theory.

The aim is to provide you with an understanding of consumer behaviour and how this knowledge can be used to direct commercial decisions in the luxury sector. Emphasis is placed on the ability to critically appraise various theories and concepts, and to synthesise them during the process of application in the managerial process. At the end of this module you will understand the psychological and social influences exercised upon customer behaviour in the luxury sector, and be able to identify the strategic and managerial implications associated with consumer behaviour.

Job roles this Module and the Assignment have relevance for  include: Fashion Marketing Manager, Digital and Social Media Fashion Marketing Manager, Marketing Assistant, CRM manager, CRM assistant Manager, Brand Consultant, Brand Manager, Brand Assistant Manager, Luxury Fashion Product Strategy Consultant, Senior Buyer ,Assistant Buyer or Entrepreneur

How is my Assignment for this Module Structured

Assignment CW1 = 40% – Assessed on a Group and Individual Basis

Part 1 Group Presentation – 15 Minutes Total for the whole group. Each Group Member must contribute to the Presentation.

Part 2 Individual Reflective Essay (1000 words)

Assignment CW2 = 60% – Assessed on an Individual Basis

Individual Luxury Brand & Consumer Buying Behaviour Strategy Report (2500 Words)

Individual Luxury Brand & Consumer Buying Behaviour Strategy Report (2500 words)

A comprehensive overview of the project – final strategy proposal document for client

You should use this report to disseminate your primary research and project journey. Remember to introduce and conclude your findings, making future recommendations outlined as your Luxury Brand & Consumer Buying Behaviour Strategy to the client, highlighting the aspects you believe will need the most focus and management as well as implementation theories in order successfully grow the business.

Also ensure you credit your team members’ input and include visual evidence as well as the following:

·       A project proposal and rationale for the team approach

·       Personal professional planning lay-out

·       Evidence and synthesis of primary research

·       Client based analysis

·       5 Ps research market and sector research

·       Launch and promotion strategy package

·       Reflection on client feedback and responses

·       Evaluation of the team working process

Practical:

The essay must be presented in a professional format with each section clearly delineated with an appropriate heading or sub-heading and all visual data must be fully integrated into the essay (i.e. no appendix is necessary).

All references must be acknowledged with in text citation and a final references list using the Harvard Referencing System (see the CULC Guide to Harvard Referencing available via Moodle); both text-based and visual data references.

LO1/LO2/ LO3/LO4/ LO5/LO7/ LO9/ LO10

IMPORTANT! Everyone Must Individually Hand in All of the Following via Moodle:

NB: If you do not submit each part for this assignment you will automatically become a re-sit candidate for this module!

Individual Luxury Brand & Consumer Buying Behaviour Strategy Report (2500 words)

X1 Copy of the Report as a Word.doc file

The Report must include:

·       A Cover Page with your Name and CULC ID Number in Bold, plus the names of your Group Members

·       Contents Page

·       Table of Illustrations

·       Introduction

·       Main Body of the Report (i.e. subsections should be given appropriate titles)

• Conclusion

·       References List

The module fits with the course aims and course learning outcomes (LO) in the following ways:

• LO1: Critically understand the impact of contextual forces on marketing in organisations operating in the fashion industry, including: ethical, environmental, economic, social and technological change issues; international developments an corporate governance; as well as the development, management and exploitation of information systems and their impact on organisations
• LO2: Critically understand the fashion and luxury industries’ retail markets and customers: the need of stakeholders including employees, sponsors, collaborators or competitors and how to manage and develop these interactions
• LO3: Capacity to apply the concepts, processes and institutions in the branding and marketing of fashion and luxury goods and/or services
• LO4: Critically understand the management of resources and operations related to the fashion marketing industry with the use of relevant communication and information technologies for application in business and management within an international knowledge-based economy
• LO5: Critically understand international market structures and strategies which affect global marketing in the fashion and luxury context and development/ application of appropriate business policies and strategies to meet the stakeholder’s interest
• LO7: Capacity to apply a variety of current theory and skills within digital fashion and luxury industry practices in a variety of scenarios to a professional standard
• LO9: Problem solving and decision making for the fashion industry; establishing criteria using appropriate decision techniques including identifying, formulating and solving fashion business problems, evaluate opinions and the ability to implement
• LO10: Information and knowledge; scanning and organising data from a range of business and fashion marketing contexts, abstracting meaning from information and sharing knowledge