Abstract
The paper is mainly focusing on examining strategies for firms in the luxury goods market to increase sales. In this paper, the 3 strategies: why logos play an essential role in this industry, why traditional luxury brands began collaborating with fashionable brands and why luxury brands pay high fees to celebrities to engage them as spokespersons, are illustrated. After elaborating on these strategies along with an empirical research and screenshots, the results show that one of the reasons why people are fond of buying luxury products is that logos represent a sense of superiority and may show the owners status; collaboration draws people's attention and increases purchase desire as a large number of people appreciate the combination of luxury and street fashion; star effect leads to many customers want to follow or imitate their idols so they are likely to purchase the clothes or items which their idols have worn.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: Advances in Economics, Management and Political Sciences
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
