Marketing Strategies for Luxury Brands

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New products are continuously launched into the luxury perfume market each year. DKNY’s recent addition to the perfume market is DKNY Pure. As a competitor intending to introduce a similar product into the luxury fashion brand perfume market, consumer behaviour has important implications for the design of a successful marketing strategy. This paper will outline which key factors marketers should attempt to influence in the design of a marketing strategy to introduce a new luxury brand perfume to the market. Through the use of product positioning, identifying buying groups and the target market, extensive advertising and operant conditioning marketers can manipulate the consumer decision-making process together with internal and external…show more content…
Perceptions of quality can be influenced by the tangible (intrinsic) characteristics of the product; for perfume this is the bottle and the package. Through the application of beautiful and clever product design and packaging marketers can manipulate consumer perception of the perfume and its image (Sadeghi & Tabrizi, 2011). Intangible (extrinsic) characteristics such as price, store image or brand image also serve to influence the consumer’s perception of quality (Quester, Pettigrew & Hawkins, 2011). Setting higher prices for the perfume consistent with the product position and target market (Fionda & Moore, 2009) and stocking the perfume in high-end department stores are strategies that can be employed to infer quality and influence consumer perceptions of status.
Brand image and brand awareness
Brand leveraging strategies can be employed to capitalise on the brand equity of a familiar luxury brand by giving the brand name to a new product (Quester, Pettigrew & Hawkins, 2011). By introducing a new perfume using an established luxury fashion brand (either as a product or line extension) marketers can increase consumer recognition and acceptance of new products (Wu & Lo, 2009) as well as making the most of the perceived intangible benefits associated with a positive brand image. A consumer’s positive perception of brand image of familiar luxury fashion brands has a significant effect on increasing

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