Luxury and Fashion Marketing: A New Wave in the Sea of Marketing

Abstract

Purpose of the study: The purpose of the study is to present a systematic literature review pertaining to luxury and fashion marketing, how the brands are influencing customers in purchasing in this regard authors have made an humble attempt to trace out the basic issues involved in luxury and fashion marketing to summarise the existing works which helps to identify the important research gaps which help to address future research studies. Design/ Methodology/ Approach: Authors have used content analysis method to organize the literature review pertaining to luxury and fashion marketing, by closely examining the research articles available in this domain. Besides, authors have used inclusion and exclusion criteria to select the research articles. The articles has been collected from repute journals like Sage, Emerald insights, articles published in leading marketing journals and data bases like Ebsco host is used to collect the published works. Findings of the Study: It was observed that a conceptual framework has to be developed to examine closely how luxury brands are influencing the consumer buying behavior, but still it remain unclear. The review presents the concept of luxury and fashion marketing, influence of brands on purchase decisions and also made an attempt to depict models and theories available from previous studies. The classification of research work helps us to understand the current trends and patterns of research in luxury and fashion marketing. Finally, article helps to identify research gap in luxury and fashion marketing also helps to structure the direction for future research works in luxury and fashion marketing. Shortcomings/Implications of the study: Authors of the article suggest that conceptual dimensions should be included in further studies, in this article only existing works get reviewed and implications of the study helps academicians and scholars to conduct the research, managers of companies can use key facts and principle findings of the study as base for developing their marketing strategies. Originality/ Value: The present article provides a comprehensive knowledge about luxury and fashion marketing and also helps to understand the current status of research work and works done so far in this domain.