While luxury brands are one of the most profitable and fastest growing segments of the pantheon of the brand, they are the least studied. There is no set definition of what is a luxury brand, there is no clear understanding of the value dimension of luxury brands, rather than strict conceptualization of different types of luxury brands. They are usually treated as homogeneous. Not surprisingly, the management of these brands is shrouded in mystery. This article discusses the importance of the dimension of luxury brands, features of luxury brands, and proposes a typology to help companies understand the managerial implications and challenges of each type. All the luxury brands are not the same, they can mean different things to different people or even different things to the same people, which makes targeted marketing luxury brands, it is difficult and important. This also means that they react differently to each other, both in times of economic prosperity and recession. This article also examines the migration strategy of mass-market brands in the luxury brand market. "Hide
by Leyland Pitt, Pierre R. Burton, parents Michael and Jean-Paul Burton Source: California Management Review 23 pages. Publication Date: 01 November 2009. Prod. #: CMR440-PDF-ENG
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