Symbiosis Institute of Media & Communication Module: New Media Assignment: Strategic Plan for Launch of a Luxury Brand In India Faculty Guide: Sameer Aasht Submitted by: Kanika Tiwari 218 Divyaraj Brahmbhatt 045 MBA | Public Relations | Batch 2010 | SIMC
Brand Introduction: Analysis of Existing Online Strategy: 1. Feldo’s has a website which is non interactive and is potential devoid of any customization 2. The online visibility for Feldo is minimum and there is a great for its visibility in online media 3. Feldo has undertaken few social media, networking websites ,channelizing the same to create new customers and making the brand more interactive is yet desired. 4. Low online visibility as compared to its counterparts 5. Very few reviews by the experts resulting in minimum product knowledge and awareness. 6. There is a corporate blog but merely for the sake of existence. Thus overall there is a below average brand visibility in the digital media which needs to be rectified in order to launch the Luxury Brand in India.
The Buyers differ according to their unique needs, wants, resources, locations, buying attitudes & Practices thus each buyer is a potentially separate market. Thus the customization of marketing for each buyer is suggested.
Age a. 20-35 years b. 35-50 years c. 50 yr and above
Sex a. Male b. Female c. Unisex
Attitude/Orientation a. Sporty b. Jewelry c. Technology
Competitor Brands a. Bvlgari b. Breitling c. Omega d. Patek Phillipe e. IWC f. Franck Muller g. Movado h. Chopard i. Piaget
Price a. 10-40k b. 40-100k c. 100k +
Display : a. Analog b. Digital c. Dual
Strap: a. Leather b. Metal c. Synthetic i) Steel ii) Gold iii) Titanium
Luxury brand lovers display considerable differences in spending power, spending frequency, brand loyalty and purchase motivations.
Consumer typologies range from fashion connoisseurs motivated by the idea of staying abreast of the latest luxury fashions to product
connoisseurs driven to collecting luxury items within a specific product category, for example Breitling, Boucher on and Cartier watches.
Whatever the typology characteristics for luxury consumers, purchase motivations fall into three distinct categories:
Luxury brand consumers are considered purchasers. They enjoy the full sensory exploration of luxury products, the experience of the in-store environment and they actively engage with brands on many levels.
Those who buy goods online are typically younger than their brick-and-mortar counterparts.
The internet and digital media continue to form a regular and growing element of consumer lives
spanning a broad demographic stretching through to high-net worth individuals.
To stay current and continue to attract younger affluent consumers, luxury brands must find a way to
manage and retain brand equity in the expanding world of consumer 2.0.
The good news is luxury brand consumers want digital communications.
Target: modern luxury brand consumer On the whole, luxury brands have neglected the potential of the Internet. Luxury brand owners tend to perceive the Internet as not exclusive enough and so potentially damaging to their brands. According to research, affluent consumers are prepared to buy luxury goods online. Luxury brands could benefit in three ways from having successful sites: ability to sell to a far wider audience; offering customers the indulgence of convenience; and providing a space in which potential customers can do research and develop desire. Care must be taken to maintain brand values when developing a luxury brand Web site.
FELDO’s Brand Strategy will transfer the marketing expertise from offline media to the web in a
workable framework which will involve understand behaviors within specific customer segments
and apply insight empathetically online.
Analysis of luxury brand engagement can be divided into six key phases, all of which present opportunities
for digital brand strategy, as follows:
Awareness FELDO online Creatives will be in sync to what the consumers have seen offline
High quality production and execution will be critical to delivering consistency and a deeper, more
interactive FELDO brand experience.
It will ensure Digital advertising should be captivating not irritating.
2. Admiration FELDO DNA- website will inspire admiration. It will have consumer ‘permission’ to take digital media
communications beyond rational brand. The New Media initiatives will deliver involvement,
entertainment and interaction in a personalized context.
New Media Brand Strategy for FELDO
New Media Brand Strategy for FELDO 3. Exploration FELDO Online Communication will Convey the heritage, authenticity and quality of the brand, it will complement the in-store experience that the majority of consumers will ultimately enjoy. 4. Consideration FELDO will emphasize on Personalized care and attention within a luxury retail environment digitally. Live Chat Facility will enable real-time peer-to-peer consultation for online browsers – direct, contextual engagement with the online experience. FELDO ‘s Website will Recognize online visitors, offer membership and will remember personal information enhance individual engagement. 5. Purchase Integrating the web with retail drives for brand reinforcement. Consumers will enjoy the ambience of the retail environment – enabling them to enhance this experience, by directing consumers to their most convenient outlet further improving brand experience, loyalty and talk ability . 6. Ownership FELDO will offer exclusivity through opt-in and individual communication channels which will enable one-on-one, personalized brand communications with every customer. FELDO will advocate desire ownership that will go further than an arms-length relationship and creating an online ‘club’ deepens engagement still further.
1. Put a link on the Feldo’s website to luxury blogs that offer news related topics. 2. Submit news about Feldo Accessories to luxury blogs. 3. Advertise on luxury blogs that offer news related topics. 4. Promote blog posts about your luxury accessories that are published on luxury blogs
Maintain a corporate blog
Online Luxury Branding Blogs: FELDO’s Blogging Strategy: The blog will tell the brand story and talk about where the brand is going in the future. Create a balance between design and function. Resisting the temptation to go overboard with technology. Emphasizing on making of each piece and exclusivity attached to it Use of own Social Networking website : Feldo will have a premium membership only offered to selected customers where the elite can discuss the world of luxury and Feldo will enhance their experience by offering special deals and providing exclusive excess to these members for various on ground luxury events like auctions etc..
There would appear to be three tangible benefits to FELDO in using the Internet more fully. First, with a limitation of handful of outlets across the globe. This potentially excludes those customers who can’t make it to those outlets. A Web site means the expensive goods are available to anyone around the world. Second, the target market for luxury goods tends to be the cash-rich and time-poor, who place a high value on convenience. As Paul Dawson, head of usability at design agency Conchango, puts it: "Given the option, who wants to walk down Bond Street in the rain when you can sit on the sofa with a glass of wine, surfing the Web?“ The Second Life Avatar for Feldo : Feldo will venture into Second life and will emphasize on its positioning With a blend of technology, style & exclusivity factors. To catch in its target potential clientele. FELDO will use the Internet as a means to disseminate information and create desire, use the Internet to find out where the shop is and what products are available. FELDO will initiate the concept where consumers may want to go online to make an appointment with a personal shopper at Feldo Accessories
Engage with bloggers – Twitter is a great place to start, Add bloggers who act as buying consultants for luxury shopping links section, make them comment on events - auctions sites, show your support – the fashion blogosphere is generally responsive to
Identify where conversations are already happening about FELDO and industry (blogs, Twitter, forums, etc) –
find a way to participate.
Offer special promotions and use online exclusive shopping destinations(among other outlets) to help get the word out.
Creation of weekly e-newsletter that includes the designers engagement at social level, the celebrity factor , the
Social media . A few options:
The SEO strategy:
Use of Google optimizer to ensure that every new webpage is fine tuned for Google.
Use of Google analytics to exclusively profiling the consumers in a particular region.
Challenge Identified: “The Web eliminates the fun of shopping."Internet offers a shopping experience diametrically opposed to that offered by high-end retailers. FELDO’s Solution: "The Web is all about being a smart shopper, saving time and money, and finding eclectic goods. Online Shopping with Feldo will be about an experience that feels exclusive.
Feldo Accessories can get into partnership with DreamWorks revolving around the recent movie releases , taking the PR factor into consideration.
Offline Branding strategy
FELDO will be promoting luxury goods as a wise investment instead of an expense – Feldo Auctions of timepieces. Digital Feldo Gallery will be established to launch new exclusive timelines & accessories
Feldo will appeal to the refined tastes and matching egos of very upscale consumers. By backing off the
blatant snob appeal of its products. One of its newest promotional efforts: an exclusive “over-the-top” tour
of Europe, North Africa and Russia by private jet for two weeks this fall featuring “some of the finest cuisine
in the world” and visits to the kitchens of “celebrated chefs” and private wine cellars.
The tour can be co-sponsored by airline players and Food and Wine and Travel & Leisure magazines.
Feldo will initiate its collaboration with various institutes – seminar on time & technology, Future
chornography to entice the new tech savvy guy who falls in the young thirtyish CEO ‘s lead.
The outlet itself will be one of the most premium shopping destination in India located in the only luxury
Shopping destinations – Exclusive Luxury Hotels & The Emporio, Delhi where it makes s strong brand
Presence using celebrity endorsement and leveraging the Feldo Designers - Their tours to India will be