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Lara Haug
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Haug
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Lara
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Item type:Publication, Strategic Touchpoint Management : How Luxury Brands Can Successfully Attract Millennials(2020)Recent years have brought a remarkable increase in possibilities for brands to get in touch with customers, driven especially by the rise of digital media. This has added significant complexity to the management of customer touchpoints. Brands are confronted with the challenge of deciding where to be present for what purpose and with which content. Furthermore, they need to adapt to changing customer preferences, predominantly driven by the customers of the Millennial cohort. Luxury brands are particularly exposed as they both aim to provide the best experience for their customers and face the risk of diffusion due to overexposure. Previous research has not sufficiently aided brands in coping with these new challenges of reaching and engaging Millennial customers and using opportunities to their advantage. Thus, the dissertation at hand explores the following research question: How can luxury brands strategically approach touchpoint management to successfully attract Millennials along the customer journey? To do so, I have first generated insights on what customer journeys for luxuries look like both from a brands' perspective and a customers' perspective. The first viewpoint shed light on how luxury brands constitute success for themselves along the journey. The latter analyzed what characterizes Millennial journeys and identified critical touchpoints. The comparison of the two views has resulted in nine insights for luxury brands to consider when serving Millennials. Second, I have taken a closer look at prevailing stereotypes of the Millennial cohort and extracted five luxury customer segments. Third, I have integrated the previous findings to derive a strategic approach for brands regarding how to successfully manage their touchpoints in a Millennial market, which I refer to as touchpoint strategies.Type:doctoral thesis