Poster: Research briefing session held on January 28, 2021 co-sponsored by Luxury Branding Institute et al.
『Because of Corona, aim for a brand that creates valuable products and culture that can be used for a long time!』
In Corona pandemic, the genuine authenticity is required, which is a valuable product full of craftsmanship, a brand that creates culture ≒ luxury. Hermès is a harness shop on the street corner of Paris, which was founded in 1837. It is a big mistake that there are many older long-established stores and local traditional companies that make particular products in Japan, but there is no successor and it is likely to collapse. Clothes, food, housing, fashion, wine, watches, daily necessities, rooted in the land, craftsmanship is shining, and even if it is expensive, it will create a culture with "beauty of use". Aim for luxury products, brands with high-priced but enthusiastic fans!

Photo: (from left) Mr. Y. Sawa (Vice President, Lexus International Executive）, Mr. T. Yamai (President, Snowpeak), Mr. K. Nousaku (President, Nousaku), Mr. K. Endo (Vice President, Beams）, Mr. S. Nakauchi (the Ministry of Economy, Trade and Industry), and Prof. Nagasawa (WBS)

Symposium on Japanese "Kodawari (elaboration)" Seduces the World (Jan. 31st, 2017)

If a brand with high technical standards and eminent quality adopts a low-price strategy aiming at the base-of-the-pyramid (BOP) market, it will be involved in endless cost competitiveness and there will be no way to beat products from emerging countries whose product quality has been showing remarkable improvement. In addition, a low-price strategy will cause not only a weakening of manufacturing but also a lowering of brand value. In order to create a breakthrough in such conditions, it is necessary to add value to products, or in other words, produce products which can be sold even at high prices, and aim at the top-of-the-pyramid (TOP) market rather than the BOP market.

Precisely because this is a time of economic stagnation, it is essential to climb out of horizontal competition with other companies, using the concepts of original products which other companies cannot copy: unique value, exclusive distribution channels and original promotion.

Such strategies of 'not competing in terms of price' and 'being armed with creativity and uniqueness' have been used by luxury brands including Louis Vuitton. Their strategy is, in short, to work in opposition to traditional marketing theory and brand theory – to manufacture products with high quality, meticulous taste and rich background stories – and sell them at high prices through exclusive distribution channels with almost no advertising.

The 'luxury strategy,' which systemizes such principles as 'anti-laws of marketing,' is fundamentally different from the mass marketing of common mass consumption commodities. The luxury strategy also differs from both premium strategy, which people tend to lump together with luxury strategy, and common fashion strategy.

Just as marketing for mass consumption products was created in the U.S.A., and massive enterprises such as P&G were developed and conquered the world, the luxury strategy was conceived in Europe and was realized during the process in which small family businesses, mainly in France and Italy, grew into world class brands within less than a half century. That unique method is in fact applicable to many businesses in almost all cultural spheres around the world. For example, it has been applied to enterprises such as the flagship shop of Apple Inc., design audio of B&O, Nestlé’s Nespresso machines, BMW’s Mini and Lacoste brand’s penetration of the Chinese market.

The module agenda is the theory and practice of luxury branding, which produces goods utilizing innovation and creativity, that can be sold regardless of their highest prices, and brands with enthusiastic admirers.

Our seminar is for strongly-motivated learners who aim for career building and career enhancement in luxury branding or in any business fields targeting the wealthy classes. Within the academic culture of WBS to stress 'Unity of Theory and Practice', and at the leading edge of luxury business study, Nagasawa's Seminar provides research and education that will be stimulating and contributive to successful business practices.

Photo: Prof. Nagasawa gives his lecture.