Marketing Strategies for Luxury Brands

Catherine, W., Tat Pui, L. and Henrik, U. (2011) The Roles of Branding for a Brand Entering

Many great fashion designers have entered the market of fragrance (Chanel, Lanvin, Givenchy, Yves Saint‐Laurent, Balenciaga …). After that, the speakers of the cosmetic market launched their own perfumes (Yves Saint Laurent, Estee Lauder) and finally, the family brands made their entry on the market (L’Oreal, Procter & Gamble, Unilever…). These

In this essay I will be outlining the ways in which Burberry has been marketed and so focusing on the four ‘P’s’ of marketing. The approaches taken to market the brand

When consumers are buying makeup they want to know the value of the product. A consumer knows that when buying a product from a drugstore it is cheaper so this way all the products are each under twenty dollars. However , they might be cheaper but the fragrance might not always smell the best. Not only is the fragrance not the best, but the packaging is not always pretty. On the contrary, consumers also know that buying from a higher end brand and store the prices are dramatically higher but know it is worth it. Unlike drugstore makeup, the fragrance and packaging smell and look elegant. For people who love makeup, most agree that paying for “luxury beauty items” are willing to pay extra money because they know it’ll be worth it .Due to this obvious fact, most of the consumers do not care for how much it is as long as they know the value of the product is very high in satisfaction, they will invest in the product.

No two-brand identities are the same and it is crucial to consider what type of clothing the company will supply to its customers. There is a large difference in the way luxury and fast fashion brands operate which translates to how they create and maintain a brand identity. Some of the major differences are that luxury brands do not respond to rising demand because they want their product to be difficult to buy. The role advertising has for luxury brands is not to sell but to create status. Luxury brands do not use the Internet even though the importance of online coordination was just discussed. Finally, luxury brands do not look for cost reductions (Nieto). They still create an identity by creating a personality or an idea that represents the brand,

In the fashion industry, fashion brands are highly associated with branding, because of the intensive competitive fashion markets. Moreover, fashion brands are self-expressing to some extent (Carroll, 2008). Building creative brand image is important for the fashion brands. In addition, Carroll (2008) said that social responsibility and potential risks are the two aspects related to the fashion brands. Just as

In nowadays, buying luxury brands is not only showing a sign of wealth, but also a kind of rewards for people’s hard working. Luxury products sell high market prices because of their designs, brand names, and the qualities. People want to buy luxury products because their quality is better than target brands. For example, the brand like Bottega Veneta is known for its traditional design of leather goods; their handbags are handmade in Italy. Comparing to Bottega Veneta to target brands, Bottega Veneta’s design will not easily out of style, but target brands will easily out of styles because their designs are relatively ordinary. However, in the recent year, some luxury brands’ reputation has gone done because those brands were shifting their factories to other countries and then shipping back to Italy just for the label. Technically, the phrase “Made in Italy” is not really manufacture in Italy anymore, sometimes this product 's qualities are not as good as before. There is a rising concern of whether these luxury goods really match with the expensive price tags.

Brand awareness means the salience of the brand in the customer’s mind which includes: recognition, recall, top-of-mind (Keller, 1993, Aaker, 1996) brand dominance, brand opinion, brand knowledge (Aaker, 1995). Recognition works effectively for a completely new or unknown brand whereas recall and top-of-mind are effective for well-known brands (Aaker, 1996). Keller, 1993 found that advertising enables brand recall which brings marketing and advertising success whereas Ehrenberg et al, 2002 opined advertising maintains brand salience to provide a competitive edge to the brand and stimulate brand awareness. Potential buyer gain brand awareness from advertisements which drive consumer for ultimate purchase (Ehrenberg and Barnard, 1997, Abideen and Saleem,

The Tiffany & Company is introducing a new product line by the name of Tiffany 's Essentials. The line will offer authentic luxury designer handbags along the lines of Gucci, Chloe, Dior, Fendi, Prada and many more. As concept of luxury changes, marketers of high-end products are wrestling with the challenges of maintaining exclusivity while obtaining higher sales. Having a well-known name as Tiffany and Company we have no limitations to create luxury pieces for the luxury lifestyles. The following paper will emphasize our product, our target market and our marketing objectives as to how we will market our handbag using a vital marketing mix. It will also provide our major competition in both the diamond industry as well

One of the competitive forces that have a great effect on industry attractiveness is the threat of new entrants and how hard it is to build up a brand name that can compete with the likes of Coach, Louis Vuitton, Dolce & Gabbana, and Versace. It takes deep financial pockets and great commitment to create luxury image with well-known brand and superior quality. Thus making it costly for new entrants to gain exposure and market share. Luxury items are known for their superior quality and to some people, the status that they carry. New entrants must build this status from the ground up, which can prove difficult without

Caroline Le Bon’s Fashion Marketing and Harriet Posner’s Marketing Fashion, defines fashion marketing and its elements. Fashion marketing and advertising is the process of analyzing, developing and marketing current fashion trends to satisfy consumer needs. Both or the readings discuss the role of marketing in the fashion industry and its differences to marketing other products. Fashion products are often trended items, temporary items based on design color, fabric and pattern. Le Bon and Posner elaborate the differences in advertising fashion products and advertising classical items. The contemporary fashion industry has confronted many changes because of globalization, the development of new distributions channels, ethical considerations and price sensitivity. Fashion managers must learn about, anticipate and understand the behaviors of their consumers using marketing tools in order to help them react, adjust or revise their attractive fashion products so that they can encourage and stimulate consumers’ desires and improve financial performance. (Le Bon, xvi) Both readings discuss how critical it is for fashion brands to develop a strategic marketing plan and effectively implement it. Caroline Le Bon’s thesis is to discuss the importance of the fashion industry and fashion’s diffusion process along several trends and products each season. She highlights the influences and different elements of a fashion marketing mix. Harriet Posner’s thesis is explain theoretical concepts

Most of the time consumer uses the preference of their five senses and sometimes retrieving information from their past purchase. Notice that in any of those ways, packaging has the impact. The role of packaging has increasingly raised its bar to one of those significant tools for marketer’s to attract consumers. Packaging acts as a silent communicator, salesman and outfit for the product. Some products wear more expensive outfits than others depending on what marketers is trying to emphasize for their target audience. Orth, Campana, and Malkewitz (2010) stated that designing packaging is an essential part in anticipating a brand image. Sometimes it is designed to carry an impression of being a high quality product while some other time it may design to signify that the price is affordable Orth et al., 2010; Ahmad, Billoo; Lakhan (2012). Consumer’s first impression when encountering product is crucial. It can upgrade or damage the brand. Abrams, E. (2010) stated in “Brand Identity meets Economics of Scales,” that everything seem on the store’s shelf designate the first impression of the brand to consumer. The major cause of success of both brand identity and economics of scales is the brand itself

Cacharel fragrance brand was acquired by the L’Oreal group in 1975 (Insead, 2007). L’Oreal is known as a house of diverse corporate and umbrella brands, namely just a few: L’Oreal Paris, Lancome, Cacharel, Giogio Armani, Ralph Lauren and many others. Each of these umbrella brands has below it numerous products brands and line brands. They constitute so-called a multi-brand matrix (Marketing Mastermind, 2008). Cacharel umbrella brand belongs to the Luxury Products Division, one of three divisions of the L’Oreal group, which offers up-market premium products to consumers. Every umbrella brand has established distinct identity, image to focus on different target market, in turn; the Cacharel umbrella itself is perceived as an encompassing combination of prestige, femininity, charm and romanticism. (Kepferer, chapter 11, p292). As a result, Anais Anais was the most responsible for creating Cacharel’s identity by its extraordinary succeed. In the shoes of Katsachnias, we have been encoding the Cacharel brand identity in some extends, whether it helps to revitalize the brand at its crisis? We continuously perceive this insight in the next question.

Earlier companies use to concentrate on making a brand image is to only entice new customers but these days theories have turned around. Maintaining the brand has become one of the prime targets’ for marketing professionals in order to gratify existing customers.

In recent times, branding has played a pivotal role in some brands’ success. This has been made possible through the ability of some marketers to capture the essence and minds of people (consumers), and put the trends and characteristics into the personality of a brand. Customers have always found ways to identify themselves with certain products, and on several occasions, branding campaigns