A luxury brand manager’s primary task is to understand how to sell a luxury brand to attract a specific consumer. While all firms, from low-end to high-end, have marketing teams, luxury brands often have more money to spend on cutting-edge tactics and professionals to oversee their implementation.
Luxury brand managers, in this regard, have a higher level of corporate participation and must bring the appropriate qualifications to the job to be successful.
Identity is vital to all brands in today’s competitive industry. Luxury brand management aims to leave a lasting impression on customers while increasing market share and product sales. As a result, they ensure that the organization’s marketing and advertising initiatives convey the correct message. Furthermore, one of the most critical components of the job is developing brand rules and ensuring that staff follows them.
Brand managers collaborate with various groups, including creative firms, marketing professionals, researchers, and product developers, to ensure that the brand’s image and values are reflected in every action. Brand managers can work for consultancies as well as in-house marketing teams.
Brand managers typically work conventional office hours from Monday through Friday, from 9 a.m. to 5 p.m. Evening and weekend work may be required in some situations to fulfil tight deadlines and to attend exhibitions, conferences, and product launches.
They must also travel frequently to meet with various creative agencies. Those who work on worldwide brands may also be required to travel internationally.
Luxury brand management has always existed, but it was only in the last few decades that it was formally recognized as a profession. To sell high-end items such as designer clothing, handbags, jewellery, furniture, vacation, or automobiles, business owners have grown to rely on professionals who can satisfy their brand’s vision while effectively promoting it to a targeted consumer group.
Current trends in the luxury brand market to encourage economic development include various tactics dependent on the company’s profile. To attract their consumer base, larger luxury businesses require managers to use unique techniques that include product mix and exclusive deals. On the other hand, smaller brands are looking for managers who can help them break into new consumer segments and expand their distribution reach. Luxury brand managers can anticipate executing some or all of the following activities in a given workday, regardless of the professional setting:
- Conduct market research on the products you want to sell.
- Organize and supervise multi-media ad campaigns
- Assist in the development of product and distribution strategies.
- Budgeting and resource management for the brand
- Consult with outside agencies, promotional agents, and officials from the company.
- Collaborate with brand creators and designers
- Manage marketing personnel and projects.
Luxury brand managers are in charge of coordinating the entire creative process for a single product or collecting services and products. Typical roles include the following, whether they work in-house with an organization’s marketing department or for a brand, marketing, or advertising consultant helping clients during various projects;
– Conducting consumer market research, monitoring current market trends, and finding all prospective areas in which a brand should invest, considering the customer’s buying habits and demands.
– Examining the product’s price and considering its potential profitability.
– Inventing names for existing and new services and products and coming up with concepts for upcoming launches, including package imagery (the fonts, colours, size, and shape).
– Overseeing media buyers and printers, copywriters, art designers, roadshows, exhibition stands, email campaigns, TV commercials, websites, direct mail packs, and magazine and newspaper advertisements.
– Overseeing the approval of marketing campaigns and material, ensuring that the messages and designs adhere to the brand’s regulatory rules, and coordinating with compliance and legal staff.
– Coordination of the launch program for both internal and external customers.
– Using market research and focus groups on tracking consumer reactions and product distribution.
Luxury brand managers have exciting careers in the fashion and luxury industries, with plenty of opportunities for travel and growth. A career as a luxury brand manager may be the appropriate fit for those who want to excel in the fast-paced world of international marketing.