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Luxury Marketing in India

CASE FLYER, MARKETING MANAGEMENT
ET Cases, 6 pages

Case Preview

Luxury Marketing in India

 

Expected Learning Outcomes

• Understand the concept of luxury and the market dynamics of Indian luxury market
• Debate on the ways to categorize and segment Indian luxury market consumers/customers and analyze how psychographic segmentation can be used in Indian luxury market
• Discuss the role of technology and social media in effectively reaching the potential luxury segment

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Luxury Marketing: The Concept of Luxury

1. Economics defines wants in three categories – needs, comforts and luxuries. Can you illustrate the three with examples? What would be the probable needs, comforts and luxuries for the following socioeconomic status of people (Exhibit I)?...............

Teaching Note Preview

Luxury Marketing in India

 

Synopsis

With rising income levels, the Indian luxury market offers a plethora of market-building opportunities for luxury brands both global and Indian. However, to tap the newly arisen opportunity, luxury brands have to get their act together in three critical success factors – segmentation, technology interface and using the social media appropriately.

Expected Learning Outcomes

  • • Understand the concept of luxury and the market dynamics of Indian luxury market
  • • Discuss and debate on the ways to categorize and segment Indian luxury market consumers/customers and analyze how psychographic segmentation can be used in Indian luxury market
  • • Discuss the role of technology and social media in effectively reaching the potential luxury segment

 

Positioning and Setting

This case flyer can be ideally positioned for:

  • a) General Marketing Course – Segmentation – For discussion on how to segment luxury brands and how to deliver enhanced product/service value to the customers.

 

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$2.74
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Product code: MKTG-4-0011, MKTG-4-0011A

Abstract


The case flyer enables a discussion on three critical success factors for Luxury Marketing in India. What would it take for luxury brands - global as well as Indian - to be successful in the challenging and demanding Indian luxury market? Luxury brands can aim for better success by segmenting the customers appropriately, using experience-enhancing technologies and most importantly leveraging the power of social media. With a market size of $7.58 billion (in 2012), the Indian luxury market has the potential to double by 2015, if the luxury brands pay attention to the three critical success factors.
This case flyer is based on an article1 published in The Economic Times and can be used effectively for discussing the concepts of segmentation and delivering enhanced product/service value to luxury brands.



Pedagogical Objectives

  • To understand the concept of luxury and the market dynamics of Indian luxury market
  • To discuss and debate on the ways to categorize and segment Indian luxury market consumers/customers and analyze how psychographic segmentation can be used in Indian luxury market
  • To discuss the role of technology and social media in effectively reaching the potential luxury segment


1 Lulu Raghavan, 'Segmentation, Tech Key to Success in Luxury Marketing' The Economic Times, December 25th 2013



This Case Pack Includes:
- Abstract
- Case Flyer
- Teaching Note (**ONLY for Academicians)
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