The Application of Digital Media on Building Luxury Brand Awareness

Thesis title: The Application of Digital Media on Building Luxury Brand Awareness
Author: Phan, Thi Thuy Trang
Thesis type: Diploma thesis
Supervisor: Zlatić, Marija
Opponents: Neumannová, Pavla
Thesis language: English
Abstract:
This thesis is conducted on the purpose of exploring the current implementation of digital media to build luxury brand awareness. It applies available knowledge of luxury marketing from leading scholars, most up-to-date data findings and reports from world-class research agencies. The problem space was identified from the changing path-to-purchase of new luxury customers forces that reveals how digital media has been influencing customer’s decision on choosing luxury brands. The study adopts a pragmatic approach that appears best suited to the research problem. Based on available literature, recent data, real-life cases and an organic online survey, the research was able to visualize the core application of selected digital media tools that are essential to attain more brand awareness. This includes social media marketing, e-commerce strategy that links to luxury omnichannel and disruptive technologies which will reshape the industry in a near future.Nowadays, approximately 80% of luxury purchases are proved to be digitally influenced (McKinsey, 2018). New luxury customers are said to be trend followers and often buy from top-of-mind brands. Market-winning luxury brands are those that realize how their customers engage on the Internet. They must successfully immerse digital marketing to existing branding strategies but persist in being exclusive. The approach is to build a digital ecosystem that intertwines various digital media tools to strengthen luxury brands advocacy. Such ecosystem will be introduced towards the end of the thesis and modified by findings from the survey to come up with diligent recommendations.
Keywords: Luxury marketing; Brand awareness; Digital media; Master thesis
Thesis title: The Application of Digital Media on Building Luxury Brand Awareness
Author: Phan, Thi Thuy Trang
Thesis type: Diplomová práce
Supervisor: Zlatić, Marija
Opponents: Neumannová, Pavla
Thesis language: English
Abstract:
This thesis is conducted on the purpose of exploring the current implementation of digital media to build luxury brand awareness. It applies available knowledge of luxury marketing from leading scholars, most up-to-date data findings and reports from world-class research agencies. The problem space was identified from the changing path-to-purchase of new luxury customers forces that reveals how digital media has been influencing customer’s decision on choosing luxury brands. The study adopts a pragmatic approach that appears best suited to the research problem. Based on available literature, recent data, real-life cases and an organic online survey, the research was able to visualize the core application of selected digital media tools that are essential to attain more brand awareness. This includes social media marketing, e-commerce strategy that links to luxury omnichannel and disruptive technologies which will reshape the industry in a near future.Nowadays, approximately 80% of luxury purchases are proved to be digitally influenced (McKinsey, 2018). New luxury customers are said to be trend followers and often buy from top-of-mind brands. Market-winning luxury brands are those that realize how their customers engage on the Internet. They must successfully immerse digital marketing to existing branding strategies but persist in being exclusive. The approach is to build a digital ecosystem that intertwines various digital media tools to strengthen luxury brands advocacy. Such ecosystem will be introduced towards the end of the thesis and modified by findings from the survey to come up with diligent recommendations.
Keywords: Master thesis; Luxury marketing; Digital media; Brand awareness

Information about study

Study programme: Mezinárodní ekonomické vztahy/International Business - Central European Business Realities
Type of study programme: Magisterský studijní program
Assigned degree: Ing.
Institutions assigning academic degree: Vysoká škola ekonomická v Praze
Faculty: Faculty of International Relations
Department: Department of International Business

Information on submission and defense

Date of assignment: 12. 5. 2017
Date of submission: 30. 11. 2018
Date of defense: 7. 1. 2019
Identifier in the InSIS system: https://insis.vse.cz/zp/62128/podrobnosti

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