An Evaluation on the Relationship Between Sustainability and Luxury Marketing

Abstract

Sustainability has become an important agenda item on our agenda in recent years, with the increasing threat of climate change that humanity has been facing every passing day. In all countries, individuals and NGOs have directly expressed their reactions to this threat, and governments are trying to put measures into effect, and the production and marketing activities of businesses have an important share in this threat. Efficient and environmentally friendly use of scarce resources, marketing's consideration of common needs instead of different needs, and non-consumption-oriented presentation are presented as solution suggestions that need to be urgently focused on in this environment.

In this context, some of the criticisms are directed at luxury products with a limited and high purchasing power target audience. The fact that it is unacceptable for all members of society to bear the cost of directing irreparable resources to a small target audience for this purpose is shared in various environments. At this point, marketing has certain duties and responsibilities. In the marketing of luxury products, brands are expected to be more sensitive, responsible and transparent about sustainability by considering natural resources. This section reveals the importance of these concepts and states that brands should implement a sustainability-based marketing strategy that takes into account future generations and the possible economic, social and ecological consequences of business activities in luxury marketing.

Key words: Sustainability, Luxury brands, Luxury marketing

DOI: 10.7176/JMCR/92-04

Publication date: October 30^th 2024