In Luxurious lifestyle a dynamic market environment characterised by the interplay between increasing mobility, global communication and media distribution, but distinct economic, political, legal and educational environments, international luxury businesses face a variety of serious challenges that require a global perspective.
More than western countries, the luxurious lifestyle emerging markets such as Asia exhibit enormous growth rates in the domain of luxury. The question arises as to whether the market for luxury goods can be treated as a single market in which the Western luxury lifestyle can be replicated in a standardised approach, or if cultural differences require a country-specific marketing approach. And, even in the case of adapting a digital marketing strategy, In luxurious lifestyle the continuum between exclusivity and ubiquity, Furthermore, the frequently cited ‘democratisation of luxury’ has led many luxury brands to follow a vertical brand extension strategy and offer entry level priced products such as accessories and fragrances – often produced under license in low-cost countries. In this luxurious lifestyle the question arises only if the core luxury brand is related to brand insignia instead of a complex system of functional and psychological product attributes and deeper values. As in the luxurious lifestyle there are lies which challenge to protect the strength of the core brand and prevent brand erosion in particular facing the prevalence of low-cost counterfeits that undermine the values of the genuine luxury brands.
Taken as a whole, the key challenge for luxury brand managers is to find the right balance between the preservation of the brand’s exclusivity on the one hand, as of luxurious lifestyle and the satisfaction of the rising appetite for luxury goods on the other hand without diluting the brand with overexposure for the luxurious lifestyle.