LUXURY - A PHENOMENON Luxury Branding and Strategy Implications: Framework as an Action Plan

Luxury is more than a phenomenon. The understanding of real luxury is down to consumers’ education and what are actually the subjective parameters that make a product or brand luxuries. This publication provides an extensive overview of luxury and offers comprehensive answers considering its notion, history and business strategy of leading scholars. Furthermore, a strategic analysis of the luxury industry demonstrates its complexity and highly competitive business landscape with high entering barriers due to high marketing and product investments. In addition, the introduction of the roots and development of successfully established luxury brands and their examination show similar success implications among entrepreneurs.