Designing Luxury Experience

24 Pages Posted: 5 Jun 2014

See all articles by Vadim Grigorian

Vadim Grigorian

Pernod Ricard

Francine Espinoza Petersen

ESMT European School of Management and Technology

Date Written: May 26, 2014

Abstract

In luxury brand management, experiences are essential. However, most of what we know about designing customer experiences originates from work developed with and/or for mass brands. Luxury brands are conceptually different and require a specific approach to brand management. Using a grounded theory approach, we present a framework consisting of seven principles to design luxury experience. Our research suggests that to create a true luxury experience brands should go beyond traditional frameworks of brand management. By compiling best practices and the commonalities amongst the interviewed companies’ most successful efforts to create a luxury experience, the framework can help brands to implement a “trading-up” strategy: Luxury brands can enhance their desirability by offering a true luxury experience and non-luxury brands can adopt principles of luxury experience and become life-style brands.

Keywords: brand management, luxury brands, luxury marketing, emotions, customer experience, experience design, luxury consumption

Suggested Citation

Grigorian, Vadim and Espinoza Petersen, Francine, Designing Luxury Experience (May 26, 2014). ESMT Working Paper No. 14-04. Available at SSRN: https://ssrn.com/abstract=2442914 or http://dx.doi.org/10.2139/ssrn.2442914

Vadim Grigorian

Pernod Ricard ( email )

Habsburgerring 2
Hamburg, Köln-Neustadt-Süd, 50674
Germany

Francine Espinoza Petersen (Contact Author)

ESMT European School of Management and Technology ( email )

Schlossplatz 1
Berlin
Germany

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