We are living in times when education has crossed the conventional boundaries. Creative courses are immensely encouraged and valued. This specifically creates a demand for Luxury Brand Management. It is a course designed especially for luxury brands to plan advertising and marketing strategies, eventually helping them popularizing a particular product line.
It is essential for luxury brands to create a larger than life impression on the customer base, which allows them to compete and carve a brand statement. This can be achieved through strategic planning for various platforms. All in all, it’s about the right communication targeted at a specific group. This is exactly where luxury brand management comes in the picture and builds brand recognition. It calls for a separate profession altogether. An MBA in Luxury Brand Management offers a plush approach to luxury brands and their product lines.
Picking the best ways of advertising and marketing for an elite clientele with a certain pocket size takes a lot of thought behind it. This means that the psychology of this division of people needs to be cautiously considered and evaluated while setting up any activity.
An MBA in luxury brand management deals with the attitudes and approaches of the client; the perfect representation of a luxury brand; communication skill development; various mediums used for marketing and finally, a detailed study of the results of the marketing activities to foresee, prepare and arrange for a better branding ideas and execution.
MBA in luxury brand management was a non-existent career choice a few years ago, but offers exciting opportunities today. There exists a requirement for thorough knowledge and understanding about the heritage brands, and people who have a knack for it.
Popularity of Luxury Management Courses
The luxury industry has evolved, resulting in courses especially designed for it. MBA in luxury brand management has become popular with the advent of innovative, promotional campaigns being employed by new brands that challenge the existing names in the industry. Meanwhile, the leading ones are now preferring to go beyond the traditional domains by exploring new markets.
India’s growth
A study by McKinsey says that the luxury industry shows growth as compared with emerging countries. It shows that India has a cut-throat competition with China. There are more opportunities for the luxury retailers in the country, which leads to increase in job opportunities also. Bigger brands are looking for talented people, who can help with marketing strategies and deals to pull the target audiences’ attention. Also, smaller brands are simultaneously looking for managers, who understand luxury brand management and help them with an increased footfall.
Reasons to study luxury brand management:
Employment opportunities – When you choose a course like MBA in luxury brand management, it automatically allows you to set your foot upon a non-traditional profession. This course helps you with a varied experience. Sometimes, you might experiment with job roles or perhaps, you enjoy doing that at all levels. After gaining the proven ability, it adds a spark to your fast-growing and glamorous professional life.
- Creative contentment – Luxury brand management gives you enough chances to satisfy your creative side. Creativity, being the prime focus of the course, allows you to work with big names that look for innovative solutions to their problems. There is a range of skills like product design, brand experience and service development. You can learn any of it depending upon your interest and ability to gain. Also, this course will help you learn skills to attract the customer and retain him, thus, improving brand management.
- Unique programs – As a luxury brand manager, you should be specialized in taking critical decisions about brand repositioning and extension. These are bigger issues in an organization, and a highly-specialized program can help you develop the eye to detect differences between business models of various luxury brands. A degree of MBA in luxury brand management makes you capable of practicing your skills and beat the crowd in this highly-competitive international industry.
- Worldwide scope − An another great reason to choose MBA in luxury brand management is that you stand a chance to meet interesting people, celebrities and public figures from all over the world. You get the unlimited opportunity to roam around the world and make your career all the more interesting. You will be hired by reputed brands with countless branch offices in various countries. Once you get onboard, there won’t be a chance to look back. You would get to visit your dream cities and lead a lifestyle that you have always fantasized.
- Handsome salary packages – Luxury industry pays you in great sums. Pursue MBA in luxury brand management and open doors to all things elite.
Career Prospects
With an MBA in luxury brand management, you are most likely to land with high end brands. This course is targeted to build strategic brand managers and it opens up gates leading to various sectors of the luxury industry besides just fashion.
A wide range of profiles that you can explore:
- Luxury brand manager
- Fashion retail manager
- Supply chain manager for a luxury brand
- Luxury marketing director
- Communication manager
- Brand strategist
- Customer relations manager
- Luxury buyer and merchandiser
- Public relations, events and media management
The MBA in luxury brand management allows you to explore interesting profiles as each one of the above has an increasing demand with a great remuneration along with various additional perks.
These positions require you to be well versed with the following:
- Latest trends in the luxury and fashion industry
- Planning budget
- Networking and building contacts
- Devising branding strategy
- Planning outdoor and indoor marketing campaigns
- Planning and executing social media campaigns
- Market research
Studying Luxury Brand Management Abroad
In the age of globalization, one must explore all aspects of his career and area of knowledge. The world is anyway growing closer with technology and social media, getting to know about different cultures isn’t a problem anymore. We must open our eyes and minds to new experiences so that it helps us grow in this ever-evolving world of branding and luxury.
There are various reasons why MBA in Luxury Brand Management should be studied abroad:
- International exposure
- Understanding of global trends
- Guidance from international experts
- Experiential learning through projects in real-time
The world is connected virtually, hence you must seek knowledge that is applicable globally. Studying luxury brand management from an international university is once in a lifetime opportunity, which you must never leave.
FAQ about MBA in Luxury Brand Management:
1. What is MBA in Luxury Management?
MBA in Luxury Management program teaches the principle concepts of luxury and gain exposure to present day market through industry interaction sessions. It is a unique academic program, designed to teach entrepreneurial, managerial, and marketing skills that are important to grow in luxury industry. Students with excellent communication and interpersonal skills must explore this course.
2. Where can I study MBA in Luxury Management?
You can opt for this glamorous career option at Luxury Connect Business School (LCBS), in Delhi. It imparts the best knowledge and practices in the industry and allows you a 360 degree development. Also you can study in Italy as it has collaboration with the renowned Accademia del Lusso, for experiential learning.
3. How is the placement in LCBS?
LCBS has a Career Service Centre that liaises with various industrial establishments and corporate houses. It organizes the ‘on campus interviews’ and boasts of a 100% placement record. The school has its alumni at the leading fashion houses, agencies and corporate on desirable positions.
If you are also pondering over your career options, Luxury Brand Management is the one that’ll take you on a glamorous journey of a lifetime. Know more about the courses that LCBS offers and benefits that you can enjoy.
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