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Topic by yourself - Dissertation Example

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Luxury Fashion Brands: Small Business Issues, Branding, and Communication Abstract In recent years, the fashion industry has undergone many changes, particularly in terms of its increasing appeal to young people. Luxury brands, for example, are currently the latest in a number of fashion trends, and demonstrate the relationship that exists between brand appeal and the customers desire to purchase…
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Download file to see previous pages... Basic small fashion business theory and principles were examined and issued within the scope of the study of as well. In-depth research into areas of luxury brand loyalty and image, as reflected by the fashion consumer, were discussed in order to better understand the various influences that marketing has on the small fashion business. In addition, data relevant to the overall luxury fashion business was analyzed and discussed in an effort to compare that information with the gathered qualitative data. Static data collected from gathered case studies are also presented to illustrate the attitudes of luxury brand fashion items that are inherent in the industry today. By presenting a combination of theoretical and practical analysis, final conclusions and recommendations are issued at the end of the study. 1. Introduction Fashion is a multi-billion dollar industry, and the luxury brand makes up a considerable portion of that prowess. Luxury fashion consumers, to a large degree, are the face and voice of the entire industry and, as such, it is important to understand the distinctions that make up various brands and give small fashion businesses a relative and comparative advantage. ...
1). These are important distinctions to be made from the outset, primarily because luxury brand items carry substantially more market appeal than other types of fashion accessories. They cannot be easily replicated and the consumer develops a strong loyalty toward a brand, but not necessarily toward a product. A successful brand is vital to the success of a fashion company, as it most often results in a competitive advantage over others in the same niche market (Aaker, 2004). Not only does a particular brand greatly contribute to the overall profit generated by a fashion company, but it also serves as the fact of the company by implementing a particular name or symbol that consumers can identify with. These ideas and concepts distinguish them from their competitors and generate interest within the market itself. Logos, trademarks, and package design all contribute to the image of the luxury brand, necessitating that fashion companies focus on the development of they major brands in order to identify and differentiate one company from another (Aaker, 2004, p. 5). With the continuing development and expansion of the global luxury fashion industry, there has come a renewed emphasis on understanding the consumer that desires to purchase such items and to apply a proper growth strategy that will form the future of fashion building. 2. The Nature of Fashion Building Fashion building takes time. The nature of developing a brand image that appeals across sectors of society takes ingenuity, design, and a bit of luck. It requires the foresight to understand the affluent consumer, the willingness to adapt to changing markets and circumstances, and the desire to maintain that competitive edge that separates it from the rest. 2.1 Branding and Communication ...Download file to see next pagesRead More
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