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Marketing for the Luxury Sector

Overview

Participants will be introduced to the entire process of marketing and understand how each area benefits their organisation. These areas are systematically explored through interactive exercises so participants can apply these techniques to specific scenarios in their own organisation.

Participants will learn about customer’s decision making process, how to segment markets, how to target customers and how to define a marketing mix to target those segments.

What you will learn
  • Understand historical approaches to marketing
  • Analyse your company in relation with your competitors
  • Understand your customers’ decision making process
  • Segmentthe market, target each segment and use marketing mix 
  • Understand product life cycleto decide on a marketing strategy
  • Identify distribution channels
  • Understand four main elements of promotion
Details
Course: Luxury Marketing
Course Duration: One Day
Location: Onsite at client location
Luxury Marketing
Align your strategy with your market

Successful businesses must now design their products and services in line with customer’s current and future needs as well as market trends and competition. Product design and marketing now go hand in hand to make sure that products are produced for the right market and in a way that will benefit their targeted customers.

The aim of this course is to familiarise participants with what is involved in marketing using mainly qualitative methods and increase their awareness about various critical areas. This course can be particularly useful for those who are mainly involved in management where an increased knowledge of marketing can help them to produce better products.

Throughout the course of the day, there are many opportunities provided for participants to explore marketing methods used by their own organisations and critically evaluate them with the help of other participants and the trainer.

Many areas such as pricing strategies and various methods of promoting products are explored as well.

Topics Covered

Introduction to Marketing

  • Understanding marketing
  • Historical approaches to marketing
  • Modern vs historical approaches
  • What is involved in a marketing process
  • Techniques used for situational analysis
  • Marketing in relation to sales and when planning a strategy

Understanding Customers

  • Understanding SWOT analysis and its use
  • How customers decide
  • Influencing customers at each stage of the decision making process

Marketing Strategy

  • How to segment the market
  • How to target the market based on specific segmentations
  • How to devise a marketing mix
  • Positioning yourself appropriately for your target market
  • Positioning strategies and their advantages and disadvantages

Marketing Mix: Product

  • The life cycle of a product or service
  • What to consider when developing products or services in line with your marketing mix

Marketing Mix: Price

  • Understanding the process of pricing
  • How to price in line with your objectives
  • Legal issues to be aware of when pricing
  • Understanding supply and demand curves
  • Pricing multiple variations to maximise profit

Marketing Mix: Place/Distribution

  • The importance of distribution and what is involved
  • Understanding sales channels

Marketing Mix: Promotion

  • Promoting your product
  • 4 principal elements of promotion
  • How to use viral marketing
  • What is involved in branding

Marketing Analysis

  • Best practices in marketing
  • Critical areas that can make all the difference

Course Enquiry

2017-09-26T18:45:08+00:00