Growth Trade-off Variables in Luxury Brand Management

Date
2013-01-01
Authors
Cavender, RayeCarol
Kincade, Doris
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Abstract

According to brand management expert Kevin Keller (2009), “the most fundamental challenge of marketing and brand management for all brands including luxury brands is how to reconcile or address the many potential trade-offs that exist in making marketing decisions” (p. 293). Three notable trade-offs in the luxury goods industry are (a) classic vs. contemporary image, (b) exclusivity vs. accessibility, and (c) retention vs. acquisition. These are all interrelated and pose a dilemma for luxury marketers in that strategies emphasizing heritage, exclusivity, and retention are not useful in managing contemporariness, accessibility, and acquisition.

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