Abstract
The study explores the concept of brand management and aims to analyze the practices that lead to customer loyalty and brand satisfaction. Understanding the market, its needs and establishing a sync with the brand identity can help marketers to fulfil both long term and short term goals of the business. This understanding should be accompanied by a proper communication and delivery of the brand value to its existing as well as its potential customers. Thus, the study focuses on the various aspects and elements of luxury brands that should be enhanced to not only drive customers but also retain them amidst the increasing competition in the luxury sector.
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