ABSTRACT

Creating and maintaining a successful luxury brand has many challenges. In emerging markets like India, brands face additional challenges due to the smaller size of the market as well as consumer’s general preference for value over luxury. Based on a qualitative approach, the study aims to empirically develop an analytical framework of the critical success factors (CSFs) for luxury brands keeping in mind the uniqueness of the emerging markets. This study involved semi-structured in-depth interviews with 18 senior managers with varying experience in luxury fashion industry, supported by secondary research such as internal documents and media reports. The study identifies 10 interrelated CSFs, which are categorized into two broad categories, i.e., Core CSFs and Augmentative CSFs. Based on consumer maturity and brand status, four types of consumption patterns (aspirational, conspicuous, experiential, and heritage) for luxury brands are also identified. Managers can use our CSF framework along with the consumption pattern matrix for efficient luxury brand management.

摘要

创建和维持成功的奢侈品牌面临许多挑战。在印度等新兴市场，由于市场规模较小以及消费者普遍偏爱价值而非奢侈品，因此品牌面临更多挑战。该研究基于定性方法，旨在根据经验开发针对奢侈品牌的关键成功因素（CSF）的分析框架，同时牢记新兴市场的独特性。这项研究涉及对18名高级时装经理的半结构化深度访谈，这些高级经理在奢侈品时尚行业拥有不同的经验，并辅以内部文件和媒体报道等二次研究。该研究确定了10个相互关联的CSF，将其分为两大类，即核心CSF和增强CSF。根据消费者的成熟度和品牌状态，还确定了奢侈品牌的四种类型的消费模式（理想的，显眼的，体验的和传统的）。管理者可以使用我们的CSF框架以及消费模式矩阵来进行有效的奢侈品牌管理。