Changes in International Marketing Strategies of Companies Operating in the Global Luxury Industry due to the Financial and Economic Crisis

• Main Authors: Zorkóciová Otília, Jamborová Erika Mária
• Format: Article
• Language: English
• Published: Sciendo 2013-03-01
• Series: Studia Commercialia Bratislavensia
• Subjects: marketing mix; brand strategy; luxury industry; financial and economic crisis; international marketing strategies
• Online Access: https://doi.org/10.2478/stcb-2013-0003

The goal of our contribution is the international marketing strategy of luxury goods manufacturers worldwide due to the financial and economic crisis. The current crisis hit many countries of the world, European continent as well. It contributed to the more prominent role of BRIC countries in the global economy, particularly because of their growing economic power. These factors resulted to the increase in affluent customers for luxury industry in these countries. The sector quickly and successfully responded to this situation. Our paper aims to identify the essential elements of the successful international marketing strategy in the global luxury industry, with reference to the most important elements of the marketing mix.