The turmoil throughout the markets in the last couple of months would have tested the hardiest soul. Keep your head now though, and the rewards will be huge.

But no brand seems immune from this chaos. There isn't a desk or laptop that hasn't done a 360º head spin. So where do we go from here? I'd be the first in the queue for the answer to this trillion dollar question.

Working as a brand specialist in the luxury sector has taught me a few simple rules. The most successful brands follow them religiously and are deified for doing so. It's not god-like, just common sense.

I'm going to talk about just one - not losing sight of the basics. Yes, people buy into luxury brands for the glamour, visuals and associations, but those who return time and time again, also do so, for the positive brand experiences they've enjoyed. Building relationships like this is fundamental for any luxury brand. It means return business and a strong chance of patronage from the next generation of family or close friends. A friend's recommendation is so much more reassuring than trusting an unknown third party.

A colleague of mine recalled a Bond St. jewellery purchase as if describing the romance of her life. From the dalliance with the advertising, to the secret shop walk bys, to the eventual grand entrance, pulse racing, head spinning at this 'other world' she'd entered. 'I just thought, now where do I start?' she recalled.

Rescued by the sales manager she was chaperoned across the room from one heart stopping display to the next. The 'courtship' she told me, was getting serious.

She set up a second date wearing 'just the right outfit' where aforementioned sales manager whisked her in front of her carefully recorded list of 'must haves', all laid out invitingly, each diamond set 'just so'. That personal touch. The fine craftsmanship and design. It all said 'handmade for me', she cooed. The price at this point was making its way down her list of priorities. She was now on the laughing gas and along for the ride.

To this day, the exquisite packaging and presentation box remain on her desk (a ringing endorsement in itself) and the sparkler in question is granted special outings about once a month. She received two courtesy calls by the 'after-sales' team to check that she was happy with her purchase. The relationship was cemented.

That brand, got everything right. Firstly, they put themselves out there, by advertising. They were seen in all the right places and their messages created the intended desire. More importantly the brand lived up to its promise.

The environment in which its products were displayed was stunning. The sales team (the customer's point of contact with the brand), were knowledgeable, informative, polite and reassuring. They understood customer behaviour and her need to return in the right attire to decide her purchase. They listened to her and discreetly noted her preferences.

Their investment in design and craftsmanship was tangible as was the attention given to the packaging and presentation. At no point in this process did the brand lower its standards or compromise itself in any way. This is luxury.

Returning to the question, there are many challenges ahead for luxury brands so keeping ones composure and concentrating on getting the basics right, will help maintain both brand equity and profile.

Getting the right balance is an unenviable task in this economic climate because crucially, luxury brands can't afford to lose the very assets that make them so desirable; the right staff, product, design, innovation, environment etc.

Those who manage the high wire act will be in a better position to move forward. Maintaining brand identity and continuing to do what your good at to the very highest standards will always be key to building customer relationships.