Today, our BIHM students had the unique opportunity to gain valuable insights from Sachin Pradhan, Corporate Director-Operations at The Soaltee Hotel and Resorts, during an engaging guest session on “Why People Pay More: The Psychology of Luxury Brands.”
The session developed deep into the factors that influence consumer behavior, exploring why certain brands command higher prices and how perceptions of luxury and exclusivity shape purchasing decisions. Students learned about the psychological triggers behind brand loyalty, the role of storytelling in creating perceived value, and how luxury brands maintain their status through marketing, service quality, and unique experiences.
This insightful lecture not only provided theoretical knowledge but also connected it with real-world examples from the hospitality and luxury sectors, helping students understand how these concepts apply in professional practice. The discussion encouraged students to think critically about branding strategies, consumer expectations, and the business decisions that contribute to a product’s premium positioning.
The session was a perfect blend of academic learning and practical industry insights, inspiring students to apply these lessons in future hospitality management and marketing roles.