This research explores how a sense of luxury brand is created in an online environment.Tags: Dissertation Masters LevelThesis Help In DubaiGet Writing Paragraphs And EssaysEssay'S For SaleEconomic Assignment HelpThesis Technical ProductsMbs Thesis Of TuCiting Internet Sources In Essay Mla
The fashion and design industry stakeholders range from store-owners to merchandisers and business executives whose decisions reflect on the customer’s reactions and the behaviours toward product thus affecting sales of that particular product.
The purpose of conducting this research is to find out whether the luxury products’ perception has depreciated over time due to impacts brought about by changes in customers’ behaviours.
A historical review was conducted beginning with the company's inception in 1854 and continuing through the formation of the LVMH conglomerate in 1987.
Exploration brand management successes and failures helped identify information relevant to variables in selected business categories (business environment, corporate environment, marketing strategy).
From this analysis, four themes emerge on the sense of a luxury brand (luxury history, authenticity, community and paradox).
The concept of an online fair is used to illustrate the environment of luxury brands on the Internet.
Strategic planning and strategic management response were identified as ongoing strategies that helped LVMH and its brands to effectively address and respond to environmental changes.
Both environmental determinism and the zeitgeist and the use of strategic management response were incorporated into the luxury brand management framework as overarching themes for explaining the influences and responses for the four management indicators.
Luxury brands have only recently tapped into the online market in an attempt to increase revenues and expand their businesses.
This leap onto the online world has resulted in several new challenges, including the luxury brand paradox.