Today’s luxury market has entered a new phase – one characterized by market headwinds, the management of complexity, and an ever faster changing consumer culture. That’s a good thing. It means great benefit for those businesses and professionals who sharpen their business’ competitive edge. This management seminar aids all those who aim to tackle the crucial challenges of luxury today.
The seminar starts with a brief primer on the management and marketing of luxury on the first day. On the following three days, six specific challenges are being discussed:
Digital creating digital luxury experiences
Luxury and Digitization have long been difficult to reconcile. Even though strong growth can be observed today, many luxury offerings are not digitally positioned in a way that they can fully benefit from the advantages of the channel for customer experience. Digital is still far away for luxury brands to become second nature. We offer approaches to overcome this divide.
Omnichannel orchestrating customer touchpoints
The contact with customers does not only occur in a store or online. Rather, it resembles a long trail of touchpoints between a brand and a consumer. Strong brands can piece together the information they have generated from different channels efficiently and can connect them to one coherent set of consumer insights. In this module, we are also explaining how even small and medium sized luxury brands can optimally approach this ideal.
Millennials understanding tomorrow‘s market
From 2020 on, the majority of luxury consumers will consist of the demographic group of millennials. A target group, which differs greatly in terms of consumer behavior and values to the previously most important baby boomer generation. We are providing insights into the most important changes and illustrate approaches.
Responsibility safeguarding reputation
Sustainability of luxury products will be a key topic in the next five years. While the younger luxury consumers are considering this topic with an increasing priority, many providers of luxury goods are still hesitant to align the entire brand architecture according to a societal and ecological beneficial positioning. How companies can approach such projects will be elaborated on in this module.
Innovation combining heritage and high-tech
Innovations are of great importance for luxury brands. At the same time, investments in innovation represent decisive risks especially for small and medium companies within the luxury industry. In this module, we will describe marketing and management approaches which methods lead to a decrease in risk associated with product innovation.
Emerging markets increasing efficiency abroad
Luxury brands have strong roots to their origin but, at the same time, are also globally attractive. Although the wave of globalization of luxury brands has already branded on most continents, two questions still remain: firstly, how do we improve efficiency in the international markets? And secondly, how do we manage the complexity which comes with an international positioning? This module will give answers to these questions.
On the final day, findings are being integrated.
The intensive seminar is created to equip participants with tools and methods to approach the new challenges affecting the luxury market. By participating, you will have not only the unique opportunity of learning from speakers with both academic and practical management backgrounds, but as well the chance to gather new and fresh impulses for your day-to-day business decisions. The program is designed to give an overview of the main challenges affecting the luxury market and provides ways to solve them. During these five days, you will find yourself immersed in discussions and insightful conversations with experienced speakers and luxury managers, which will trigger idea generation and innovation.
Next dates on request.
The seminar will take place in the Executive Campus of the University of St.Gallen.
Seminar tuition amounts to 5’950.– CHF. Tuition includes materials, books, and refreshments during breaks. Costs incurred through travel, accommodation, and evening meals are not included. Attendance is offered to partners of the Competence Center for Luxury Management at preferred rates.
The seminar holds the goal of providing it’s participants with an overview of the trends and challenges affecting the luxury business as well as impulses and ideas on ways to tackle them.
Duration: 5 Days.
Please do not hesitate to get in touch
Phone +41 71 224 28 31