Sotheby's Institute of Art Digital Commons @ SIA MA Theses Student Scholarship and Creative Work 2020 The Art of Marketing Luxury Aiho Tan Sotheby's Institute of Art Follow this and additional works at: https://digitalcommons.sia.edu/stu_theses Part of the E-Commerce Commons, Marketing Commons, Other Business Commons, and the Sales and Merchandising Commons Recommended Citation Tan, Aiho, "The Art of Marketing Luxury" (2020). MA Theses. 82. https://digitalcommons.sia.edu/stu_theses/82 This Thesis - Open Access is brought to you for free and open access by the Student Scholarship and Creative Work at Digital Commons @ SIA. It has been accepted for inclusion in MA Theses by an authorized administrator of Digital Commons @ SIA. For more information, please contact
[email protected]. The Art of Marketing Luxury by Aiho Tan A thesis submitted in conformity with the requirements for the Master’s Degree in Art Business Sotheby’s Institute of Art 2020 Word Count: 12,005 The Art of Marketing Luxury By: Aiho Tan Abstract Luxury businesses face the paradoxical challenge of growing a business whilst upholding an aura of exclusivity. The objective of this thesis is to examine the key marketing strategies employed by leading luxury brands ranging from fine art to real estate. This paper examines whether luxury brands need to embrace digital innovation and technology in order to remain leaders of luxury. First-hand insight from industry leaders and case studies reveal that luxury brands need to embrace digital, utilize the power of experiential marketing strategies, invest in creative talent, strategically partner and collaborate with brands and individuals, and craft an authentic narrative that resonates with their consumers.