MANAGEMENT FOR LUXURY GOODS: SPECIALIZATION MARKETING OR RETAIL
Duration: 12 Months | Language: English
The Master focuses on the critical elements impacting the quality and nature of the consumer luxury purchasing experience: marketing and retail management.
The course will prepare students to face today commercial challenges in the luxury industry preparing two type of managers:
a) the marketing planner who takes care of the coordination of the marketing mix managing the product management and or the brand management processes
b) the retail manager who is responsible of the management of the shops coordinating the customer relationship process . He will act on all the variables needed to enhance customer experience within the retail environment.
The course will provide all the needed tools, methodology, vocabulary to develop a marketing /sales plan and will make the student ready to proactively dialogue in any luxury environment with an innovative and disciplined approach.
The Master program is designed for graduates in economy ,communication, sociology, creative disciplines and professionals who wish to aquire practical knoledge and specific skills specific to the luxury industry.
The course provides a close number of students.
Selection is based on the curriculum vitae and on a motivational interview.
Three years degree or equivalent diploma (BA hons , BfA) two years of work experience in simular fields.
Faultless English diction toefl /score 75.
Dedicated work spaces are set aside for this Master. In addition, all labs and the library are open to those attending this Master.
The Master will have a propedeutical section common to all and a specialist session who will address the most specific arguments related to marketing and retail.
The common section will give a global view on the luxury environment expanding on the market trends , the key players , the evolution of Marketing , the factors influencing consumer behavior, the alternative corporate and marketing strategies, how to prepare a marketing/sales plan, the organization in a Luxury corporation, the management of financials, the areas which influence the Brand Equity , how to activate a successful Customer Relationship Management process, how to control and monitor the plan implementation, team building practices.
The specialist session for Marketing will enter deeply in the strategic and operational aspects of the marketing planning : the methods to gather customer needs, the different segmentation criterias , how to determine a target and create a distinctive positioning, how to manage a product portfolio , the management of the support budget , the different areas of PR and Communication relevant to the industry.
The specialistic session for Retail will expand on how to build a customer experience in the shops: understanding of different retail business models and store formats , how to create the right store concept and positioning, preparing the right product assortment and stock management, trade marketing and visual merchandising, the management of retail services, management of salespeople, supply chain and logistics , latest technology application at retail , the pricing strategies, the communication best practices and brand value at the point of sales , the CRM process at point of sales, the on line e-channel and its coordination with off line stores, the customer feedback process and KPI’s.
Front lessons with practical examples of best practices in luxury industry.
Several role plays will be implemented in class and case studies will be offered to students for group projects works and final in class presentations.
Travel/Store visits are also planned to look practicle examples of luxury benchmarkes.
Testimonial in class of luxury experts will enrich the practical know-how.