Brand Identity on a Luxury Market, Based on the Example of Ralph Lauren

What is the luxury market? Which brands can we call “luxury” and which are not? These questions are relevant for the modern life and marketing itself, since the dozens of new brands are launching every year. These brands offer to customers attractive and innovative products and services, but only few of them are real luxury. In this term paper we will try to answer the question about luxury brand identity and its main features and characteristics. These factors can help the brands to understand their strengths, weaknesses and threats, which any luxury company can face. According to the research, we found out the main characteristics that influence the brand identity. Moreover, the results of the analysis showed that consumers prefer to choose luxury products because of their emotions and feelings, rather than rationality. They value self-confidence, high social status, exclusivity, creativity and innovations. This work was based on the Ralph Lauren company analysis, that is one of the representative of the luxury market.