The Application of Digital Media on Building Luxury Brand Awareness
Thesis title: | The Application of Digital Media on Building Luxury Brand Awareness |
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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 |
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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 |
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Date of submission: | 30. 11. 2018 |
Date of defense: | 7. 1. 2019 |
Identifier in the InSIS system: | https://insis.vse.cz/zp/62128/podrobnosti |