Luxury Branding: Marketer and Consumer Points of View

International marketing, the direct entry of a marketing organization into another country is a strategy many countries use to enhance their economies. As the course discussed, international marketing is achieved by exporting a company's product into another location as we did when we entered Dunkin Donuts into Sweden, as well as discussed in this article. With the growth of the marketing mix, this article discusses the aspect of luxury branding both from the standpoint of the marketer as well as the consumer. Basically, through experience based consumption, conspicuous consumption and the standard four P’s of marketing, the luxury sector targets its products to consumers in hopes to attract and maintain customer loyalty. This article strongly discusses the concept of how luxury is consumed. Basically, this is through maintaining quality, and also by offering creative and customized products. In regards to luxury, the more insensitive consumers are to price, makes them choose to spend their time and money on these items over necessities. Since the biggest challenge has always been how marketers plan to manage and anticipate the needs and wants of consumers, the need and want for luxury goods is growing rapidly internationally. In addition, the article strongly exemplifies the amount of impact the media has on individuals in purchasing certain products in the market. This correlates to any product in general. As a consumer, the attractiveness of their marketing and advertising strategies solely sells me on purchasing that product verses another. The article discusses two types of consumer consumption methods, experience based and experience based consumption and conspicuous consumption. Experience based consumption, the process of using the product or service purchased shows that consumers may use products as intended or as they choose; whereas, conspicuous consumption normally refers to consumers who buy expensive items to display wealth and income rather than