Luxury education was established in 2004, December and is based on non-profitable education programs mainly for graduate and undergraduate students. Luxury education programs consist of field works in luxury firms with the aid of senior executives. Students, through these programs are given a chance to get knowledge and appreciation of this industry. They can discuss business related matters and design conclusions for marketing and creation. The Bangalore based Indian institution of management took a step forward to introduce a three-day course in luxury education.
The education program announced to be held at the IIMB campus is scheduled to be commenced from 9th September, 2013. The program has been titled as “Strategic Management of Luxury Business: Managing Luxury Products and Services- from Concept to Consumer”. The education program targets many valued positions in the luxury firms. The targets are at the CEOs of the new upcoming luxury business, the entrepreneurs involved in the luxury business, managers and designers involved in the luxury firm work including suppliers, marketing managers and advertising agencies involved in the work of luxury brands. The program will cover each and every detail in the luxury business.
The luxury education initiated by the IIMB is a three day program which will consist of workshop programs, detailed case studies on various topics and projects based on the work completed. The workshop and the full course will be delivered and conducted by the college faculty members and senior executives. The dean of the IIM of Bangalore, professor S Raghunath says that many entrepreneurs and business executives in the corporate world are willing to start off a business strategy which will be according to Indian economic standards. He believes that the education program announced to be conducted will satisfy this demand.
The education program will not only be beneficial for the students but will be helpful for the business owners in the luxury business fields. The participants will get a detailed knowledge about the strategy mounted in the luxury business through which they can develop their business. The participants will also get advices to flourish their business according to Indian economic and cultural position. The students can get to know of the business performance of various brands and the market competition they face.
The dean who is also the corporate and policy admin says that through this education program, the interested entrepreneurs and business owners in luxury products will get a chance to flourish them by enrolling themselves. The three day program with workshop and practical opportunity will also help them in bringing their products and services in front of the world market. The participants will also get advices to bring out the defaulted part in their business and progress it.
China has already flourished a lot in the luxury market all over Asia. India has been following the same strategies. Raghunath believes that the education program on luxury business will do something to boost up the performance of Indian business and entrepreneurs.