Luxury market Made by: Nika Mamedova Catherine Lyaver
Luxury goods Luxury Goods include art, cosmetics, jewelry and cars. The goods classified as luxury, classic economic theory belong to the socalled normal goods, i. e. goods for which demand increases with income. The key difference of luxury goods from ordinary goods - the ability to establish a special longterm relationships with consumers, influencing their behavior and sense of self.
The target audience Efforts for the promotion of luxury goods aimed at the wealthy people which able to buy, but this audience is very difficult. Information on how to enter any portion of solvent purchasers need to collect bit by bit, thinking up all sorts of ways. No less interesting audience are those people who by chance encounter with a rich audience or have her channel of communication. This can be members of the press, experts in the field of precious stones or painting, sommeliers at expensive restaurants, flight attendants in business class and many other groups.
Elite motivation Emotional: • Success; • Self-Confidence; • Wealth; • Fun Quality: • The quality of the materials; • The quality of the design; • The quality of service.
Features of the luxury market • The Global market; • Only branded products; • Identification of the brand; • Specific cultural features.
Lux-class cosmetics We go to detail in the luxury market for example lux-class cosmetics. Lux-class cosmetics is the highest price segment. It is sold mainly in stores in the airports in the “Duty Free”, in boutiques, modern hotels, specialty stores, and having an experienced consultant.
Global brands This class includes such luxury brands as “Chanel”, “Helena Rubinstein”, “Nina Ricci”, “Christian Dior”, “Gianni Versace”, “Yves Saint Laurent”, “Elizabeth Arden” and so on.
Promotion Lux-class cosmetics is made by an exclusive formula, made from expensive components, with the use of various innovations and advanced technologies. Its packaging has a unique design. Advertising companies are of global scope, with the involvement of prestigious media and the participation of highly paid stars of show business. Exposure of goods in the shops on the side of costly advertising stands and tester-stands, individual consultants, etc.
Advantages and disadvantages Advantages: • Quality and attractive packaging; • High-quality and exotic ingredients. The effectiveness of cosmetics of a class "Lux” Disadvantages: • High cost; • The probability of fake goods.
The demand for luxury goods increases with income. The main feature of the goods "luxury" is to establish long-term relationships with consumers. The promotion of luxury goods aimed at a wealthy audience and the audience with her communication channel. You can also say that there is no budget cosmetics class "luxury" on the market of cosmetic products, but many individual species, which are almost not inferior in quality to the selective cosmetics, although the efficiency is somewhat lower.
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