Hey there! This is writers Brooke and Veny. We are both communication majors with an emphasis in Advertising and Marketing. This semester we are taking a Luxury Brand Marketing and Management course. So far, this course has taught us about the luxury industry and the role it plays in the marketing world. The amount of interest we have taken in it has surprised us because we have never been familiar with luxury. From Louis Vuitton to Comme des Garcons, the exposure we’ve received to these brands has encouraged us to take lessons we’ve learned in class and apply them to the real world.
Susquehanna is known for its alumni connections which resulted in our class being able to attend the luxury car dealership, Prestige, and the Lamborghini showroom in Paramus, New Jersey. The day was dedicated to learning about the luxury automotive world. We started off by hearing about Prestige’s history, the McLaren cars that they specifically sell, as well as their target market, customer service, and marketing department. McLaren cars are appreciated for their technology, whereas Lamborghinis are bought for the attention that they attract.
The luxury industry emphasizes exclusivity and rarity; not everyone can participate in the dream experience that luxury fulfills. However, there are 3 types of top consumers within this limited consumer base. Firs, there are customers who have inherited their wealth from their families. The second type is customers who are involved in stocks, wall street workers, doctors, etc. The third and last type are customers who are entrepreneurs and have self-made wealth.
Everything, from the cars to the service stations, was super clean. Even the mechanics, who work on these luxury cars every day, were as clean as a whistle. The bathrooms had mouthwash and the dealership offered hot coffee for customers.
Being emerged in the life of the rich for a day was a very interesting and cool experience.