VERTU presentation for “Branding for Luxury Products” course. HISTORY The VERTU originally started in 1998 in Great Britain, now wholly owned subsidiary of Finnish company Nokia. The same year founder and Chief Designer, Italian Frank Nouvo began putting his ideas for Vertu on paper and the board of Nokia gave the project a green light. Frank Nuovo was a design strategist at Nokia from 1995 to 2006, when he left to become Vertu’s lead designer full time. Also in 1998 the company made it a company principle of hand making their products with “exotic, rare and naturally durable materials”. In 1999, their characteristic V form was established, …show more content…
Place: Vertu phones are selectively distributed. They are available at company-owned boutiques and at other various company-selected luxury stores like London Jewelers, Goldsmiths, Tourneau and Colette. Vertu locates its stores in luxury shopping districts of large metropolitan areas and opens relatively few stores. The stores are small, intimate and have a luxury feel more like that of a jewelry store than a cell phone store. All sale locations can be found on vertu.com. Promotion: Vertu acquires much publicity from sales to celebrities like David Beckham, Madonna and Gwyneth Paltrow. As well Vertu has collaborated with big brands before like Ferrari, Boucheron and Audemars Piguet. Vertu releases different collections at different times and will only make a certain number of phones in order to keep a prestigious image and attract buyers. Vertu has a website for publicity which features product descriptions and photos of celebrities who own Vertu phones. POSITIONING Vertu was a pioneer in the luxury cell phone market and has positioned itself as the top-of-the-line targeting high-net-worth individuals. Vertu accomplishes this by using only the finest materials to manufacture their products which are all handcrafted ensuring that every product is of perfect quality. Vertu will release different collections each featuring different materials and designs which make the collections unique and prestigious; their most expensive line ever was the
• Establish the product’s price. The Watch Phone was launched in Europe for US$1,290.00 with a mandatory signing of a 12- to 24-month carrier contract. LG successfully re-branded its position as a higher-end manufacturer for home electronics. This would permit the product to be priced as high as or higher than the Apple iPhone’s introduction in to Canada. The cost to purchase the BlackBerry Tour is CAD$700 and Verizon’s 2-year contract reduces this to CAD$200. The Apple iPhone launched with a price of CAD$223.00 based on a mandatory 3 year contract with Rogers/Fido, and no outright purchase option. The LG Watch Phone will be launched with a skimming strategy enhancing it as a quality item, garnering exclusivity and prestige.
Motorola started in the year 1928, Chicago, Illinois, as Galvin Manufacturing Corporation when brothers, Paul V. and Joseph E. Galvin, purchased the bankrupt Stewart Battery Company’s battery-eliminator plan and manufacturing equipment at auction for $750.
Prestigious and Luxury brands such as Gucci, Louis Vuitton and Vertu represent the uppermost level and form of craftsmanship. They demand and hindercustomer loyalty that is not affected by trends. These brands set seasonal trends and are capable of generating consumers, wherever they are established.
Nokia Company is considered to be one of the biggest market leading in the production of high quality equipment and mobile phones, which was rooted back to 19th century. However, despite the tremendous rise in Nokia, the company experienced massive changes during its presence on the Finnish, which later spread to the world’s market. Nokia Company, started as a small forest industry that dealt in the production of cable and rubber. It then shifted to the manufacturing of computers, more particularly the monitors. Later on, the company diversified its operations and started the production of mobile phones and its related accessories.
The company’s can be attributed to several reasons. Primary reason for their success would be their motto of simplicity. They have kept products simple and elegant apart from their marvelous functionalities. In order to simply a product, they have never compromised on the capabilities of the machine.
The decision whether to take faster, more aggressive brand promotion approach to heighten brand awareness was closely tied to another issue; find ways to achieve greater economies of scale. In a HTC sponsored survey, it shows that 80% of the customers would like to buy phones for less than 200 dollars. HTC believe they don’t have the necessary scale to drive the cost reduction. This is because HTC lacked significant intellectual property right
Nokia’s Lumia series was launched with a bang, but didn’t click. Reasons can be its design, which wasn’t as attractive as Samsung phones or the iPhone. Today the sale of phones is dependent on how shiny or trendy it looks. Leave aside the looks, Nokia phones didn’t have the front camera, which makes it not even 3G enabled. And we are on the threshold of entering the 4G era. So, Nokia’s latest phones were feature ready, but not future ready. Nokia was solely dependent on Symbian till it entered into a partnership with Microsoft recently. But its shift to Windows was considered a tad too late as by then Apple and Samsung had established their dominance. The operating system space was nearly occupied by Android and iOS leaving not much role for Windows. But that cannot be translated into a failed partnership. “Nokia and Microsoft are no weaklings, they do have assets. We believe that there is a good chemistry there with that partnership, and ultimately long-term Windows Phone will be successful,” Wayne Lam, IHS senior analyst, was quoted by Wired. Nokia puts customers into the corridor of uncertainty. One thing that absolutely annoys customers to the extent that it makes them tear their hair out is to have such phones
It always makes sure that quality is of tough class and customer satisfying. After we finalizes the items with its upright integrated production facilities, professional R&D know-how and well established QC system, we take utmost care product with the best quality, consistency and great satisfaction to the clients.
“We always keep on pace with the demand of our end customers, delight them through continuing maintain a close relationship between manufacturing, ongoing Research and Development as well as working closely with supply chain and outsourcing partners, to provide cost-effective, high-quality Smart phone, wireless devices and software to our customers, internationally. Constant Training and Development program and strong culture practices are held to motivate the employees, also, to ensure infinite innovation and creation come out from them. Most importantly, offer attractive
The physical evidence includes their selection of phones and objects that represent the Virgin Mobile brand. Virgin Mobile USA would need to keep up with the available mobile technologies, including service speed and the geography of service. Contracts with appropriate phone devices that would support these technologies would maintain the brand’s presence. In addition, the offering of customer service should be promoted and provided as customer-driven service.
The company valuates whether the all the proposals received from the manufacturers are sustainable and making sure that they are maintaining the quality of the handmade products and items. On an average they have 1.5 million sellers in their marketplace comprising
In analyzing Verizon's strengths, it is apparent that they have strong brand recognition in the market and industry. They are not only the leader in market share for wireless presence in the U.S., they were also ranked at the top for branding and customer loyalty in the wireless phone category and received the 2005 BrandWeek Customer Loyalty Award as a result (Verizon Customer Satisfaction Award & Recognition, 2005). In addition to strong brand recognition, Verizon is ranked the
cutting edge style and uniqueness. “Japanese brands also made their presence felt in the highend market, attempting to combine
After research Jan conclude that company faced many serious issues. Firstly many company’s costumers start making their own metal springs, shortage of workers, British company which panda create joint venture is on the way to bankruptcy and lastly polyether foam was starting to be inroads into the company’s market and Panda know nothing about this new technology. First changes Jan make 1971 the company had bought
In 1839, two Polish immigrants, a businessman Antoni Patek and a watchmaker Czapek joined forces to found « Patek, Czapek & Cie » in Geneva.