Selling Luxury

This document discusses analyzing and responding to sales objections. It defines what an objection is and why it is important to analyze them. Common objection types are listed such as need, product, firm, price and time. Example objections are provided along with hints on how to respond. Several methods for responding to objections are outlined, including direct denial, indirect denial, compensation, boomerang, referral/third party testimony, and postponing.

Selling luxury goods requires projecting tangible and intangible attributes to satisfy customers and provide value. Luxury brands offer high intangible utility relative to price with indulgent and non-essential products. Positioning is creating the brand's essence in customers' minds through its functional and non-functional attributes. Marketing luxury goods involves targeting different segments, from those seeing luxury as indulgence to those viewing it as necessary. The global luxury market is growing, with countries showing varying levels of demand.

The document provides guidance on retail selling techniques and skills. It discusses the importance of understanding customer expectations and needs. It introduces the AIDA technique for generating customer attention, interest, desire and action. Key steps in the selling process are outlined, including pre-sale preparation, opening the sale, progressing the sale through needs analysis, sales presentation, handling objections, and building post-sale relationships. Customers' motivations must be understood to effectively match products and benefits.

This is an excerpt from the book ZAG: The #1 Strategy of High-Performance Brands by Marty Neumeier Build your brand from the inside out. www.neutronllc.com

Luxury brands are defined by several key components including price, quality, aesthetics, rarity, and symbolism. Luxury brands maintain their status through limited production runs, high prices, and distinctive branding. However, marketing luxury brands presents challenges as luxury goods are not basic needs, and luxury brands must find the right marketing channels while also combating counterfeiting. Luxury brands also struggle with expanding their customer base without diluting their brand or destroying what makes them luxury in the first place.

The document discusses customer-centric selling strategies and techniques. It emphasizes that the most successful businesses focus on retaining current customers, selling more to existing customers, and acquiring new customers in a way that maximizes lifetime customer value. Some key points include: - Selling is about planting ideas in customers' minds so they feel it was their own idea, done ethically. - Core processes involve retaining current customers, upselling to current customers, and acquiring new customers. - Customers are more aware, demanding, and less loyal now. - The customer decision cycle and selling cycle involve understanding customer needs and confirming the solution fits before closing the sale. - Cross-selling existing customers additional products

Introduction , History , Visual Merchandising , Components of display , brand personality , price range, target market , store window display

The document discusses the importance of focusing on benefits rather than features when selling products or services. It emphasizes that benefits answer the question "what's in it for me" by providing value to customers, while features are simply descriptions of what a product can do. The document advises gathering information about customers by asking open-ended questions to understand their needs and priorities in order to speak to the benefits of the solution. Building long-term relationships allows sellers to become a resource for customers and solve their problems rather than just pitching features.

The document discusses customizing the in-store experience to meet shopper preferences. It covers understanding shoppers and their behaviors, such as trip missions and shopping pace, to inform store design and merchandising strategies. Placement of product categories and elements can be tailored to fulfill different roles in driving traffic, loyalty, and basket size based on a brand's promise. Understanding navigation patterns and trip missions helps determine optimal product placement to engage shoppers.

In the real world, you don’t have infinite resources; you don’t have a perfect product; and you don’t sell to a growing market without competition. You’re also not omnipotent, so you cannot enforce what people think your brand represents. Under these assumptions, most companies need all the help they can get with branding. Guy Kawasaki presents eight salient tips in The Art of Branding that will give your brand the attention it deserves. Read the full article on LinkedIn: http://linkd.in/1iWCXgB Create your own SlideShare presentations in Canva: https://www.canva.com/

This document provides guidance on successful selling techniques. It discusses the importance of understanding customers, their requirements and satisfaction. It outlines components of a successful sales strategy including being determined, thorough preparation, and having the right mindset. It provides tips for interactions with customers such as properly greeting them, using the right sales pitch for their nature, having a compassionate attitude, properly closing interactions and obtaining referrals. It also gives advice for handling difficult customers through listening more than talking and showing patience.

A brief look into brand identity and some of the models involved with its such as the brand identity prism. as well as examples of Nikes Identity prism and Jaguars identity prism. A lot more info can be located on my website : https://digibowl.wordpress.com/2016/03/30/what-is-brand-identity-a-closer-look-at-the-brand-identity-prism/

Effective selling skills - the module can be used to coach sales teams on different selling techniques. It covers fundamental principles of sales, various techniques applicable across industries.

The document provides tips and advice for becoming a successful salesperson. It discusses the importance of listening to customers, asking questions to understand needs, translating features into benefits, promptly addressing objections or concerns, identifying closing signals, setting goals and plans, and using different closing techniques. The key habits of top salespeople are asking questions, probing for information, addressing negative attitudes, and identifying closing opportunities. Effective listening, building confidence, using questions, and overcoming objections are also emphasized.

Every sales manager knows that 80% of business comes from 20% of customers... than why is your company not on the right spot... is it so easy to lock-in a customer or to ward-off the competitors efforts to snatch away your key customers

This document is an introduction section of a project submitted for a Bachelor's degree in Business Administration. It provides conceptual definitions and frameworks related to visual merchandising and impulse buying behavior. It discusses the purpose of examining the relationship between college students' apparel impulse buying and external factors like visual merchandising. It also outlines the rationale for studying this topic and highlights the significance of understanding impulse buying triggers within retail settings.

This document discusses the shift from "Old Luxury" to "New Luxury" brands and products. It uses the example of James Bond changing from a Bentley to an Aston Martin in the movie Goldfinger to represent this shift. New Luxury focuses on quality, taste, aspiration and is more affordable and accessible to middle-market consumers. BMW is presented as the prime example of a New Luxury brand that emphasizes driving pleasure over status. The document also examines how luxury brands have expanded their markets through diversification of product lines and experiences to attract a broader range of consumers.

The document discusses how luxury brands are integrating digital experiences to redefine luxury. It notes that while luxury brands aim to convey exclusivity online, their digital experiences often lack user-friendliness. The document provides examples of how luxury brands can use digital to engage customers through social media, cultural content, and exclusive online communities while still conveying the exclusivity of the brand. It emphasizes the importance of good design, user experience, and customer service for luxury brands' digital initiatives.

The document describes a "Lap of Luxury" training program created by Leadership Success Ltd. to introduce sophisticated luxury service standards in China. The program aims to provide skills for a luxury attitude and competitive edge in business. It seeks to assess and remove ordinary attitudes, mastering mindset to embody luxury excellence and perfection with attention to detail.

How to deliver excellent customer service for a luxury brand - what's involved, the critical success factors, measures to assess effectiveness and implementation plan.

This document discusses luxury good marketing. It defines luxury goods as products that are not necessary but make life more pleasant and are often bought by individuals with high disposable income. Luxury brands' core competencies include creativity, exclusivity, and craftsmanship which provide psychological benefits like esteem and prestige to owners. The document then compares the luxury sector to other industries and outlines frameworks and the 8Ps of luxury branding, including factors like performance, pedigree, placement, pricing, and maintaining exclusivity.

A 3 day Luxury Skills Training module was created to orient Retail Professionals in India to deliver fulfilling Luxury Experiences to Customers. This presentation is an overview that introduces the module.

The document introduces the 6 P's of Luxury Marketing framework, which includes People, Product, Passion, Pleasure, Purpose, and Price. It argues that luxury marketers need to take a more nuanced approach that recognizes diversity among luxury consumers. The 6 P's framework allows marketers to understand consumers beyond basic demographics and build longer-lasting relationships. Each P encompasses an important aspect of how luxury consumers experience and interact with brands.

This document provides an overview of Generation Z and their impact on luxury brand management. It discusses their characteristics as digital natives who are highly participative. It also outlines how luxury brand management is shifting from a top-down approach to a 360 degree model where consumers co-create brand meaning through social media and user reviews. Brands must provide virtual and real experiences to build meaningful connections with Generation Z, who will make up a larger percentage of luxury consumers in the future.

The document discusses how businesses should focus on solving customer problems rather than selling products. It advises startup founders to spend time validating that their solution fits a real customer problem before building out the full product. Once problem and solution fit is validated, founders should spend equal time building their product and building traction for it through various marketing strategies like content creation, social media engagement, and measuring key performance indicators. The overall message is that understanding customer needs and demonstrating value is more important than pitching a product idea.

O Prof Pascal Portanier irá pela primeira vez lecionar no Brasil, o mesmo curso que ele leciona no London College of Fashion em fevereiro de 2011

Speaker: Christian Nucibella, Founder & CEO, FiloBlu كلمة: كيف تتعامل العلامات التجارية الفاخرة مع التحول الرقمي كريستيان نوسيبلا، المؤسس والمدير التنفيذي، فيلو بلو The digital economy is entering a new era that presents unprecedented challenges for all CEOs. This has given rise to new opportunities for luxury brands that request a new approach to e-Retail management. Through a selection of meaningful case studies, the presentation will explain how fashion brands of the calibre of Santoni, Maliparmi and Philipp Plein are embracing digital transformation.