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Luxury Marketing in India

CASE FLYER, MARKETING MANAGEMENT
ET Cases, 6 pages
AUTHOR(S) : Dr. Radhika Jonnalagedda and Dr. Nagendra V. Chowdary

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)?...............

Luxury Marketing: Technology-Enabled Customer Experience

1. How do you think technology can be used to enhance the customer experience of luxury brands (products/services)?

2. Can you give few examples of how technology has been used to design and deliver a better customer experience?

3. ............

Exhibits

Exhibit I: Classification of Needs and Wants (based on Income Strata)

Exhibit II: Price-Performance and Luxury Brands

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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Suggested Orchestration

Before the Case Flyer Discussion in the Classroom

Before the students/participants come for the classroom discussion of this concept, students were asked to read:

a) “Luxury Marketing Outlook 2013” – To understand the canvass of luxury world, more specially to get an overview of depth and breadth of global luxury brands.

b) “Measuring Consumers’ Luxury Value Perception: A Cross-Cultural Framework”2 – To understand the luxury value model as described in the article, especially to understand the connotations of model given in page 7.

c) Most importantly, the students were encouraged to analyse all the questions given in the case flyer (either individually or in learning teams or in appropriate discussion forums) for them to participate effectively and enrich the learning outcomes.

During the Case Flyer Discussion in the Classroom

The discussion on the case flyer was conducted under four broad related topics: ............

The below process was followed to discuss the broadly related topics:

I. Luxury Marketing: The Concept of Luxury

We started the case flyer discussion with Concept clarity point of view. The class started with the basic definition of needs, comforts and luxuries in Economics. The students were asked to map [Exhibit (TN)-I], the needs, comforts and luxuries based on different income groups. This discussion was used to get into the world of luxury brands/luxury market..............

Exhibits

Exhibit (TN)-I: Classification of Needs and Wants (based on Income Strata)

Exhibit (TN)- II: Price-Performance and Luxury Brands

Exhibit (TN)-III: Luxury Market Break-Up

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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
- Analysis


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