Marketing Strategy and Operation Mode of Luxury Goods Lead to Brand Premium

Abstract

The primary purpose of this paper is to identify the role of marketing strategies and the operation modes of luxury products that contribute to brand premium. The scope of the paper provides insight into the marketing strategies employed by leading companies that target a wider consumer base to increase influence through sales. The paper focuses on the vital promotion models used in China as the market for premium goods. The paper explores various market marketing models and their respective histories utilized. Data is obtained from online sources and peer-reviewed materials that offer information on the types of luxury goods. The paper offers a history of the marketing tools and methods, a SWOT analysis, and a PEST analysis that are effectively utilized to analyze the prevailing marketing conditions. The paper offers alternative companies’ brands that utilize the marketing methods and the rate of growth provided by these markets.