What is luxury brand management?
Luxury brands usually have in-house brand management teams responsible for the global marketing of their products. Top brands invest the necessary capital to employ professionals and strategies that enable them to market to specific clients seeking a luxury lifestyle. To succeed in this particular field of brand management, individuals need to demonstrate excellent business skills and creativity.
Who is the Global MBA (Luxury Brand Management) programme for?
This programme typically attracts students with an interest in the production of luxury goods and services, and the desire to create a positive impact on consumers. Students are equipped with the necessary skills to make critical decisions based on brand reposition and extension. The programme will develop creativity and innovation, and is suitable for students pursuing careers in the field of:
- Media and advertising;
- Product design;
- Brand experience and marketing;
- Service development.
Graduates of the Global MBA (Luxury Brand Management) will possess career-ready skills in:
- Designing product propositions and marketing plans for luxury brands
- Managing the distribution, merchandising, and pricing of luxury brands
- Creating, implementing, and evaluating marketing strategies for global organisations
- Maximising corporate value, minimising risk, and developing competitive advantage
- Leadership at senior level management positions
You will study your programme with London School of Business Finance. Your programme modules and learning content are delivered via the Canvas study platform, and feature the following resources:
- Professionally produced video lectures created by leading business practitioners
- A designated tutor who will provide support and feedback throughout your programme
- Case studies and discussion questions to enhance your understanding of theory in context
- Downloadable e-books and free library resources to aid your assignment writing and research
- Access to online forums where you can share and discuss new concepts with fellow students and professionals from around the world
- UK undergraduate degree or equivalent - any subject area
- English levels 5.5 IELTS (5.5 in all bands) or equivalent*
- Relevant work experience is an asset, but no work experience is required
Students who fail to meet academic requirements can be assessed on their relevant work experience (on case by case assessment)
The Global MBA syllabus reflects the international marketplace by combining the latest in management theory with the practical skills that modern employers need. It is a comprehensive programme that examines key fundamentals such as finance, strategic management, operations management, and marketing. You can either enrol on the standard programme with a fixed syllabus of six modules, or select one of 16 specialisations featuring two elective modules to tailor your degree to fit your career goals.
The latter part of the programme involves a research project – including writing your MBA dissertation. Each programme module is worth 10 ECTS credits. The final dissertation project is valued at 30 ECTS credits. Follow this link to see the full programme syllabus.
Information based on the class of 2015-2016
Pursuing an MBA in this field helps students to familiarise themselves with a range of industry requirements, with a focus on the luxury markets. Students will learn about the marketing techniques used for luxury goods, and understand the significance of branding in successful business. Students will hone their skills in the following areas:
- Consumer psychology introduces a cognitive approach to analyse the way individuals respond under the influence of marketing. You’ll study the underlying cognitive processes to understand why people buy particular things. Which aspects of consumer psychology encourage people to purchase these items? Marketing executives utilise these aspects to implement ways to sell products efficiently.
- Brand strategy and promotion techniques can help a company enhance its position in the global market. Businesses of all sizes implement these measures to help their brand grow. You’ll become familiar with promotional strategies, including social media promotion, end-cap marketing, point-of-sale promotion, marketing through mail or delivery exchanges, product give-aways, sample distribution, and promotional gifts.
- Fashion marketing and production deals with the advertising of clothing and accessories, and combines both marketing and business strategies. You’ll learn to efficiently plan, design, and coordinate advertisements to be published and broadcast. Fashion marketing is a vital part of the industry, communicating the designer’s message and helping to encourage brand loyalty among customers, increase sales, and improve a company’s public image.
- Contemporary fashion trends and future outlooks emphasises the fashion industry’s continual state of reinvention. It includes redefining fashion trends, determining the latest beauty trends and the competitive aspects of fashion.
- Product innovations and creative marketing platforms enable luxury brands to adapt with changing consumer behaviour and new technologies. Product innovation is an essential step in the marketing process that aims to improve customer experience. You’ll learn to use these steps to help luxury brands focus on audience choices, introduce complementary marketing strategies, understand regional needs of customers, and strengthen their brand community through feedback, advocacy and support.
- Luxury hospitality considers how brands deliver luxury experiences to their customers. It is seen as an ideal way to engage customers and increase loyalty through unique experiences (such as luxury hotels and cruises, restaurants and quality food products). Businesses are slowly recognising how blending hospitality into luxury branding can promote their message.
Students can expect to gain the following skills by completing a Global MBA in Luxury Brand Management:
- Improved practical and organisational management of a brand and its products;
- Ability to develop brand marketing strategies;
- Improved interpretation of brand positioning;
- Ability to conduct efficient market research;
- Effective organisation of advertising campaigns.
The course is divided into three stages: stage 1 elaborates on the core subjects; stage 2 focuses on the electives; stage 3 includes the dissertation.
- Core modules:
o Marketing and Business Environment;
Learn how to interpret and develop marketing strategies in the current and future business environment. You will study the internationalisation of business and marketing strategy, taking into consideration current trends from the marketplace.
o Systems and Operations Management;
Enhance your understanding of information management issues affecting modern businesses, and learn how various systems can help to ensure efficiency. You will discover how organisations can gain a competitive edge through good supply chain design and effective use of ICT. The knowledge and skills you acquire during the modules will prove crucial in your future management career.
o Strategic Management and Leadership.
This module explores how strategy is formed and how it impacts upon businesses, as well as the importance of strategic management. You will be introduced to concepts, frameworks and practices in strategic management, in addition to leadership methods. Everything you learn will help you to excel in middle or senior level management.
o Global Marketing Management;
The development of globalisation has fundamentally altered the international business world, making it necessary for top management to create effective strategies to deal with its effects. The global marketing management module is designed to equip you with the necessary skills to achieve this. Topics covered include global strategies, the international marketing environment and the elements making up global marketing plans.
o Luxury Brand Management;
This vital module prepares you to manage a diverse range of high-end, specialist and luxury products. You will cover the essentials of luxury brand management including sophisticated business models, the ‘7p’s’ of the marketing mix, and luxury customer relationship management (CRM). The effects of time and place on luxury brand development will be explored, introducing the material, symbolic and experiential dimensions of the market.
The research, critical analysis, communication and management skills you will develop are further enhanced through the final Research Dissertation/Project. This gives you the opportunity to apply your knowledge to key marketing discipline of your choice.
This interdisciplinary subject opens the doors for a wide range of potential careers, such as:
Luxury Brand Manager – in this role, you would attract a customer base through customised approaches. Luxury brand managers use current market trends to promote the brand’s economic development. They can earn up to £67,000 annually, depending on the type of brand they are working for. Some of their day-to-day job responsibilities include:
o Understanding the relationship between a brand and its consumers;
o Researching various luxury brands to figure out who their targeted audiences are;
o Developing innovative marketing campaigns for brand promotion;
o Recognising social patterns and individual behaviours to engage potential clients;
o Attracting and retaining customers.
Strategic Marketing Analyst – this role requires you to effectively communicate analytical marketing data to executive management and team members. They work closely with the sales team and provide them with competitive market data. The average annual salary of a strategic marketing analyst is £61,685. They are responsible for collecting and analysing information including:
o Construction market data;
o Competitive intelligence;
o Commodity price data;
o Competitors and competitive products;
o Market share and market segmentation.
Marketing Communication Manager – this role requires you develop efficient marketing strategies to attract customers. They are responsible for overseeing marketing data analysis and evaluation. The average salary for Marketing Communications Managers is £32,636, and they are responsible for executing the following tasks:
o Conducting market research;
o Developing budgeting strategies;
o Developing plans to increase market share;
o Liaising with agency partners and stakeholders.
- The duration of the online Global MBA (Luxury Brand Management) is 18-36 months.
- Students are required to hold a UK undergraduate degree or equivalent, with minimum IELTS score of 5.5. Students not meeting sufficient academic requirements will have relevant work experience taken into account.
- The programme is delivered online by London School of Business and Management (LSBF).
- Total tuition fee for this programme is £9,000.