Luxury Fashion Consumption and Branding in the Affluent Market

Abstract

The aim of this chapter is to analyze brand names and their potential impact on consumer behavior when making luxury fashion purchases. Secondary research was carried out to investigate this issue by analyzing the results of older and modern studies available in foreign language bibliography. The theoretical issue of brand management in luxury fashion marketing was examined in the first section. According to the literature review, brand building is a demanding process that requires the consideration of many critical parameters. A thorough understanding of the target audience and a commitment to maintaining the brand's exclusivity, quality, and popularity are necessary for luxury marketing and branding. Creating a strong emotional connection is a priority for the strategy's focus on brand name factors. After that, we will talk about consumer behavior and the most significant trends in the luxury fashion market for affluent consumers.