• The essay is an individual work, and each is required to choose a luxury brand regardless of its size, as long as the information is widely available about it.
• The essay should not be more than 3000 words
• This assignment will be submitted through Turnitin, and will be subjects to assessment for any Plagarism, please familiarise yourself with these procedures.
• Essay Structure
? Title page (not included in the word count): state name, course, unit, essay title, number of words, date submitted, unit leader.
? Abstract (not included in the word count). It should briefly outline the scope of the investigation, the method(s) you used in your analysis, your findings, any important issues raised in the discussion, the conclusion and recommendations.
? Table of contents (not included in the word count). Include also a List of Figures, and list of tables show the figure (table) number, caption and the page number, ordered as they appear in the text.
? Introduction: This includes a brief overview of the brand: its products, and its current position in the luxury industry reflecting the various aspects of its performance in the last 5 years. Included also a short background about the brand. Note: It is NOT required to talk about the history of the company).
? Body
? Appendices (not included in the word count). You need to include the following:
o A list of the financial statements of the company which are usually found in the Annual report of the organization and that can be downloaded from its website.
o Any calculations such as Financial Ratios
o Any figures, graphs, or data about the brand
? References: You should also include a list of References that are used to collect information, all the referencing should be done according to the Harvard referencing system.
Assignment details:
You work as a consultants a global consultancy company based in the City of London and you were asked to research a luxury company and assess its approach to generate profits (since the 2008 financial crisis until now). The essay should cover the following areas:
1- Assess the previous and current strategies followed by the brand to generate profits, and what luxury management approaches / strategies the brand has been following. The assessment should be backed up with evidence from the company financial figures, performance, and secondary research data including industry reports, academic journals, and other reliable data sources.
2- It is vital that you critically refer to the academic literature for any theories or models on managing luxury brand profitability, and other aspects related to luxury brand management.
3- You need also to strength and weaknesses of such strategies (e.g managing its brand in the downturn)
4- The overall conclusion of the paper is an evaluation of the organization’s approach towards managing its brand.
5- You need to summarize the major issues that emerged from your analysis of the brand and present a short list of recommendations that could strengthen the company’s ability to improve its profitability and consequently manage its brand efficiently
Assessment Objectives/Rationale:
– To critically appraise the concept of luxury and critically analyse the unique characteristics of the global luxury goods market with emphasis on the financial performance of luxury organisations
– To assess different managerial approaches, expansion plans and growth strategies suitable for mature and/or emerging luxury goods markets, by engaging with academic literature.
– To critically evaluate the key success factors in building luxury market offerings, from conception to development, communication, distribution and retail and recommend an appropriate course of action in response to a given brief
– To select and utilise a range of theories to effectively communicate findings, present solutions
Assessment Criteria:
All 4 learning outcomes will be assessed through the work specified above. Marks will be awarded according to the following criteria:
• Knowledge and understanding of theories, frameworks, approaches and processes relevant to the management of luxury goods, services and organisations and depth of critical analysis of the financial performance of a luxury business
• Ability to critically relate a variety of approaches, expansion plans and growth strategies suitable for luxury goods markets
• Depth of critical analysis and evaluation of different strategies and tactics formulated and implemented by luxury companies and ability to recommend an appropriate course of action in response to a given brief
• Appropriateness and feasibility of the proposed solutions and recommendations, and relevance of selection of theories applied
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