MSc Luxury Marketing: Training change agents in the luxury sector!
Published on 10/22/2019
Published on 10/22/2019
As part of the programme development initiative, a Master of Science Luxury Marketing will be on offer for the next school year. Interview of Julia PUESCHEL, professor in NEOMA Marketing Department and Head of this programme.
In this interview, Julia PUESCHEL talks about the new programme in a changing global context.
The luxury sector is unique and one that is constantly changing.
J.P.: The luxury sector is a particularly unique sector and managing the marketing aspects requires a special way of thinking and a specific set of skills. Throughout my professional career, I've dealt with a wide range of unique situations relating to consumer culture, consumer behaviour, the emergence of new consumer profiles... and each time, an adapted and above all rapid response is absolutely necessary. I'd say that besides image and the financial impact, only one rule prevails: and that is that customer interest comes first! The market is constantly changing and evolving! Future professionals in this sector must be aware of the need for adaptability when it comes to responding to current and even future challenges. Hence the idea for the new MSc.
What are the specific features of the new MSc Luxury Marketing?
J.P.: The new programme will enable students to learn about all the different aspects of the sector. They will acquire the knowledge and skills required to be able to move forward in a sector that is constantly evolving. The sector is evolving extremely rapidly. The market is currently experiencing a huge impact from the digital divide. Retailers need to find the right balance between digital and physical, between rarity, which is essential to the luxury sector, and accessibility. The digital transformation and e-commerce also impose challenges that each student will face in a global competitive environment. We need to address these challenges for the students in our courses.
And why did you choose Paris for this programme?
J.P.: First, because Paris is synonymous with luxury. We are fortunate enough to be located in one of the world's luxury capitals and we need to exploit the wealth of these surroundings. Then, the very fact of being in Paris, provides an impressive panel of professional partners! Such wealth is reflected in their involvement in our courses, but also in the network, they can create. Most of our teaching staff come from overseas and they will provide the students with the best possible training.
And what kind of skills will the new graduates acquire?
J.P.: First, they will acquire in-depth market knowledge, analytical skills and the ability to adapt to rapid market changes. Through our courses, they will gain sound knowledge of digital communication and in-store experience. Among the different modules, we will focus on a fast-growing sector, the luxury experience (hotels, travel and the in-store experience, in particular). The behaviour of the millennials (Generation Y) in this area also influences the market and industry players must be aware of this in their decision-making. Finally, graduates will be up to date on new technologies, both online and in stores. In short, they will be able to decode new consumer patterns and be in a position to react and adjust accordingly. One final challenge: to become agents of change and prepare brands and companies for tomorrow's world.
Julia PUESCHEL, Head of MSc Luxury Marketing, NEOMA Business School
Julia left Russia for Germany for her studies. Dhe then lived in Abu Dhabi in the United Arab Emirates, where she witnessed the country's transformation and market development. She started off working in education and then for a major fashion brand. Whilst gaining experience in communication and marketing with a company in Singapore in number different sectors of activity sectors, she also carried on teaching.”I have always been passionate about teaching and that explains why I decided to leave the industrial sector and devote myself to academic research and teaching. I did my PhD in Paris. My main research topics focused on consumer behaviour and in particular on counterfeit products. Shortly after my thesis defence, NEOMA hired me. I think I can safely say that I am a multicultural person!”