Authors:
P.S. Venkateswaran, P. Sudha, Mohamed Rafiq, Justyna Żywiołek

Addresses:
1Department of Management, PSNA College of Engineering and Technology, Dindigul, Tamil Nadu, India. 2Department of Business Administration, Dhaanish Ahmed College of Engineering, Chennai, Tamil Nadu, India. 3Department of Accounting Section, College of Economics and Business Administration, University of Technology and Applied Sciences, Nizwa, Sultanate of Oman. 4Department of Management, Czestochowa University of Technology, Czestochowa, Poland. venkatespsna07@psnacet.edu.in.com1, sudhap@dhaanishcollege.in2, mohamed.rafiq@utas.edu.om3, justyna.zywiolek@wz.pcz.pl4

Abstract:

This research paper explores and analyzes luxury brands’ branding strategies in the global market. Luxury brands operate uniquely where exclusivity, prestige, and emotional appeal significantly attract and retain customers. The study will examine different branding approaches luxury brands use and their impact on consumer behavior, brand equity, and market positioning. This research seeks to provide valuable insights into effective branding strategies in the luxury market by conducting a comparative analysis of selected luxury brands. The luxury market represents a unique and dynamic landscape where brands employ diverse strategies to establish and maintain their competitive edge. This study presents a comparative analysis of branding strategies in the luxury sector, focusing on key dimensions such as brand identity, product portfolio, design and craftsmanship, target audience, pricing, retail presence, and brand equity. This study contributes to understanding how luxury brands strategically differentiate themselves within a competitive market. By dissecting the multifaceted nature of luxury branding, this analysis offers insights that can guide industry practitioners in effectively navigating the complex nuances of luxury branding and establishing enduring connections with their discerning clientele.

Keywords: Brand Identity and Positioning; Product Portfolio; Design and Craftsmanship; Target Audience; Pricing and Retail Presence; Brand Equity; Luxury Sector; Retaining Customers; Employ Diverse Strategies.

Received on: 04/07/2023, Revised on: 15/09/2023, Accepted on: 03/10/2023, Published on: 25/12/2023

FMDB Transactions on Sustainable Management Letters, 2023 Vol. 1 No. 3, Pages: 114-124

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