This document discusses the creation of a luxury brand. It begins by defining luxury and luxury brands, noting that luxury involves great expense and comfort. It then discusses some of the largest luxury goods producers like LVMH. It explores the birth of luxury brands and how advertising expenditure is typically 5-15% of sales revenue. The document then examines rational and emotional aspects of luxury brands and different luxury sectors. It outlines eight pillars of luxury branding: performance, pedigree, paucity, persona, public figures, placement, PR, and pricing. Finally, it provides insights into marketing luxury brands in India, including that Indian consumers are brand conscious but price sensitive and have high expectations of service.
Luxury brands have always been a fascinating sector and luxury brand marketing one of the most complicated disciplines.
Packaged as the 8 P’s of luxury brand marketing, this article attempts to bring together the elements and interplay between the principles that are employed in the luxury brand marketing mix.
The Concept of Luxury Brands - PresentationKlaus Heine
This presentation corresponds to the paper about the definition and categorization of luxury products and brands, "The Concept of Luxury Brands" by Klaus Heine, www.conceptofluxurybrands.com.
ABSTRACT: This paper defines both luxury products and brands and also distinguishes similar concepts such as premium and masstige and differentiates between major types of luxury products and brands such as accessible vs. exceptional luxury products and connoisseur vs. star brands. In that way, it should create a better understanding of what actually constitutes luxury products and brands, and thus should be useful for both researchers and managers within the field of luxury brand management.
CONTENTS of the Paper:
I. The TAXONOMY OF LUXURY
1. The Basic Definition of Luxury
1.1. The Necessity-Luxury Continuum
1.2. The Relativity of Luxury
1.3. General Perspective for the Definition of Luxury
2. The Major Understandings of Luxury
2.1. The Philosophical-sociological Understanding of Luxury
2.2. The Micro-economic Understanding of Luxury
2.3. The Managerial Understanding of Luxury
2.3.1. Areas of Research
2.3.2. Scope of Luxury
2.3.3. Limiting the Scope of Luxury
3. Luxury Products
3.1. The Definition of Luxury Products
3.2. Categorization of Luxury Product Industries
3.3. Types of Luxury Products
4. Luxury Brands
4.1. The Definition of Luxury Brands
4.2. The Relationships between Luxury Products and Brands
4.3. The Relationships between Luxury Characteristics and Brand Identity
4.4. Types of Luxury Brands
4.4.1. Luxury Brands by Luxury Level
4.4.2. Luxury Brands by Awareness
4.4.3. Luxury Brands by Business Volume
4. Distinguishing Luxury Products and Brands from similar Concepts
5.1. Premium Products and Brands
5.2. Masstige Products and Brands
5.3. Prestige Products and Brands
II. HANDBOOK FOR THE CREATION OF LUXURY PRODUCTS AND BRANDS
1. The Characteristics of Luxury Products
1.1. Price
1.2. Quality
1.2.1. Manufacturing Characteristics
1.2.2. Concrete Product Characteristics
1.2.3. Abstract Product Characteristics
1.3. Aesthetics
1.4. Rarity
1.5. Extraordinariness
1.6. Symbolism
2. The Luxury Marketing-Mix
2.1. Luxury Product Policy
2.2. Luxury Price Policy
2.3. Luxury Distribution Policy
2.4. Luxury Communication Policy
V. CONCLUSIONS
A brief look into brand identity and some of the models involved with its such as the brand identity prism. as well as examples of Nikes Identity prism and Jaguars identity prism.
A lot more info can be located on my website : https://digibowl.wordpress.com/2016/03/30/what-is-brand-identity-a-closer-look-at-the-brand-identity-prism/
Luxury brands have always been a fascinating sector and luxury brand marketing one of the most complicated disciplines.
Packaged as the 8 P’s of luxury brand marketing, this article attempts to bring together the elements and interplay between the principles that are employed in the luxury brand marketing mix.
The Concept of Luxury Brands - PresentationKlaus Heine
This presentation corresponds to the paper about the definition and categorization of luxury products and brands, "The Concept of Luxury Brands" by Klaus Heine, www.conceptofluxurybrands.com.
ABSTRACT: This paper defines both luxury products and brands and also distinguishes similar concepts such as premium and masstige and differentiates between major types of luxury products and brands such as accessible vs. exceptional luxury products and connoisseur vs. star brands. In that way, it should create a better understanding of what actually constitutes luxury products and brands, and thus should be useful for both researchers and managers within the field of luxury brand management.
CONTENTS of the Paper:
I. The TAXONOMY OF LUXURY
1. The Basic Definition of Luxury
1.1. The Necessity-Luxury Continuum
1.2. The Relativity of Luxury
1.3. General Perspective for the Definition of Luxury
2. The Major Understandings of Luxury
2.1. The Philosophical-sociological Understanding of Luxury
2.2. The Micro-economic Understanding of Luxury
2.3. The Managerial Understanding of Luxury
2.3.1. Areas of Research
2.3.2. Scope of Luxury
2.3.3. Limiting the Scope of Luxury
3. Luxury Products
3.1. The Definition of Luxury Products
3.2. Categorization of Luxury Product Industries
3.3. Types of Luxury Products
4. Luxury Brands
4.1. The Definition of Luxury Brands
4.2. The Relationships between Luxury Products and Brands
4.3. The Relationships between Luxury Characteristics and Brand Identity
4.4. Types of Luxury Brands
4.4.1. Luxury Brands by Luxury Level
4.4.2. Luxury Brands by Awareness
4.4.3. Luxury Brands by Business Volume
4. Distinguishing Luxury Products and Brands from similar Concepts
5.1. Premium Products and Brands
5.2. Masstige Products and Brands
5.3. Prestige Products and Brands
II. HANDBOOK FOR THE CREATION OF LUXURY PRODUCTS AND BRANDS
1. The Characteristics of Luxury Products
1.1. Price
1.2. Quality
1.2.1. Manufacturing Characteristics
1.2.2. Concrete Product Characteristics
1.2.3. Abstract Product Characteristics
1.3. Aesthetics
1.4. Rarity
1.5. Extraordinariness
1.6. Symbolism
2. The Luxury Marketing-Mix
2.1. Luxury Product Policy
2.2. Luxury Price Policy
2.3. Luxury Distribution Policy
2.4. Luxury Communication Policy
V. CONCLUSIONS
A brief look into brand identity and some of the models involved with its such as the brand identity prism. as well as examples of Nikes Identity prism and Jaguars identity prism.
A lot more info can be located on my website : https://digibowl.wordpress.com/2016/03/30/what-is-brand-identity-a-closer-look-at-the-brand-identity-prism/
“A ‘brand’ is not a thing, a product, a company or an organization. A brand does not exist in the physical world – it is a mental construct. A brand can best be described as the sum total of all human experiences, perceptions and feelings about a particular thing, product or organization. Brands exist in the consciousness – of individuals and of the public.” – James R. Gregory, “Leveraging the Corporate Brand”
Intro to Branding & Brand management - ElkottabMuhammad Omar
it's my material for the training workshop of "Intro to Branding & Brand Management" that has been held among other 7 workshops of #elkottab training event organized by E3langi.com in November 2014
Creating Brand Awareness at a trade show is highly important. This presentation explores the three levels of brand awareness and how to achieve those levels with your presence at a trade show.
Marketing luxury is a paradox. Luxury defies econometric models. Though the processes by which consumers acquire and consume luxury remain an enigma, luxury brand names and products are highly visible in the marketplace. This slide deck empirically explores the luxury sector, the status of international luxury brands, and how luxury is branded and sold to consumers.
L’Oreal’s methods have brought it profitable results so far, we believe a shift in focus of the segmentation to age and gender can be considered to prolong its success. Although L’Oreal has always practiced differentiated marketing strategy to target several market segments, we think there is a segmentwhich has been largely neglected: If tapped, L’Oreal could see massive profits and success in India. In thiscase we believe L’Oreal should target the Men.
This is the group project for one of my college elective course: Marketing and Management of Arts. The proposal was made when I was in the second year of college. My partner and me decided to choose perfume as our main product. However, we want to create some differences among all competitors in the perfume market. Therefore, we would like to open a DIY perfume shop, and thus proposed the outline of our business plan. The plan included our marketing method, estimate of cost, shopping mechanism...etc.
This will provide you with an ideal format for how to lay out a Long Range Strategic Plan with the vision, purpose, values, big idea, strategies, and tactics.
Best Practices in Brand Portfolio StrategyFullSurge
A tutorial workshop on the best practices in brand portfolio strategy prepared for and facilitated on behalf of The Institute for the Study of Business Markets (ISBM).
“A ‘brand’ is not a thing, a product, a company or an organization. A brand does not exist in the physical world – it is a mental construct. A brand can best be described as the sum total of all human experiences, perceptions and feelings about a particular thing, product or organization. Brands exist in the consciousness – of individuals and of the public.” – James R. Gregory, “Leveraging the Corporate Brand”
Intro to Branding & Brand management - ElkottabMuhammad Omar
it's my material for the training workshop of "Intro to Branding & Brand Management" that has been held among other 7 workshops of #elkottab training event organized by E3langi.com in November 2014
Creating Brand Awareness at a trade show is highly important. This presentation explores the three levels of brand awareness and how to achieve those levels with your presence at a trade show.
Marketing luxury is a paradox. Luxury defies econometric models. Though the processes by which consumers acquire and consume luxury remain an enigma, luxury brand names and products are highly visible in the marketplace. This slide deck empirically explores the luxury sector, the status of international luxury brands, and how luxury is branded and sold to consumers.
L’Oreal’s methods have brought it profitable results so far, we believe a shift in focus of the segmentation to age and gender can be considered to prolong its success. Although L’Oreal has always practiced differentiated marketing strategy to target several market segments, we think there is a segmentwhich has been largely neglected: If tapped, L’Oreal could see massive profits and success in India. In thiscase we believe L’Oreal should target the Men.
This is the group project for one of my college elective course: Marketing and Management of Arts. The proposal was made when I was in the second year of college. My partner and me decided to choose perfume as our main product. However, we want to create some differences among all competitors in the perfume market. Therefore, we would like to open a DIY perfume shop, and thus proposed the outline of our business plan. The plan included our marketing method, estimate of cost, shopping mechanism...etc.
This will provide you with an ideal format for how to lay out a Long Range Strategic Plan with the vision, purpose, values, big idea, strategies, and tactics.
Best Practices in Brand Portfolio StrategyFullSurge
A tutorial workshop on the best practices in brand portfolio strategy prepared for and facilitated on behalf of The Institute for the Study of Business Markets (ISBM).
This is the fifth deck in our summer series 20 Interesting Things. It takes a quick look at what is happening in the Crowdsourcing space from both a marketing and general use perspective. Look for our other decks on Foursquare, Augmented Reality, Crowdsourcing and Goodness.
Intercultural communication does not differ from other types of interpersonal communication. To avoid conflicts and have fruitful interpersonal interactions you can use your natural empathy and apply the Non-Violent-Communication model with great success.
When managing a luxury brand, it is necessary to forget a fair number of laws of traditional marketing, which may very well apply to premium brands and even to trading up, but not to luxury.
In this article, I develop 21 management principles, which I call anti-laws of marketing peculiar to luxury.
This is the marketing plan my team and I created for a student marketing competition to revitalize the cosmetics department. I chose this to showcase both my marketing knowledge, analysis, and my ability to write professionally and strategically. It\'s a group project, but I functioned as an editor for the entire thing. I had a very heavy hand in writing the strategies section and completely wrote the budget/financial analysis sections. I also did the concept mockup in the appendices.
Management of Fashion and Luxury Companieskgvsanthosh
What is Fashion?, What is Luxury?, Luxury Segments in Retail, Fashion market segmentation, Business models, Business model framework, communication of brands, Global Retail Trends, Retail Distribution channel and its types.
Reference link:- https://www.coursera.org/learn/mafash#syllabus
Luxury Brands (15th Alex Marketing Club) by Mr.Mohamed AttiaMahmoud Bahgat
Luxury Brands (15th Alex Marketing Club) by Mr.Mohamed Attia
to attend & Get the Address Confirm to me on Pvt WhatsApp
#Mahmoud_Bahgat
00966568654916
#Marketing_Club
Only If you are a Marketer Register as a member & or a Speaker in the link
http://goo.gl/forms/RfskGzDslP
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جروبات خاصة عالواتساب ب
محبي العمل فالتسويق فالمستقبل
غير عاملين بالتسويق حاليا للتعلم
■ أهم الإعلانات والأفكار والكتب في التسويق■
■■ *بدون كلام ولا سلام ولا شكرا*■■
فقط اشتراك الجروبات
وليس حضور اجتماعات نادي الماركتينج
■ *(الماركتيرز لهم جروبات خاصة)*■
ويستطيعوا حضور الاجتماعات الشهرية ولنا
■ اشترك في جروب واحد منهم فقط دوس على اللينك ■
Marketing club 19 (Future)
https://chat.whatsapp.com/IqDyV0a7GcPIKhcSKan8zD
Marketing club 20 (Future)
https://chat.whatsapp.com/Kt0SlWIeh3n8JPNrUKBOX8
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Marketing Club Middle East
Since 29 October 2015
We have 7 groups whatsapp
with 750 marketers
From all middle east
since 9 years
& now 13 more groups
For Marketing Club Lovers as future Marketers
Many non Marketers yet have asked to Attend the Club
((We Wish All can Attend,But Cant right now but soon we will..))
Criteria for attending Marketing Club Meetings
•••••••••••••••••••••••••••••••
For Better Harmony & Mind set.
Must be only Marketer
Also Previous Marketing experience
●Business Managers
●Country Manager,GM
●Directors, CEO
Are most welcomed to add Value to us.
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《 *Unmatched Criteria*》 till we allow all soon
Not Med Rep,
Not Key Account,
Not Product Specialist,
Not Sales Supervisor,
Not Sales Manager,
●●●●●●●●●●●●●●●●●●
But till you become a marketer
you can join our What'sApp group
Marketing Lover Future Club Group
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《 *Unmatched Criteria*》
For Conflict of Interest
Also Can't attend
If Working in a Marketing Services Provider
=not Hotel or tourism
=not Restaurant
=not Advertising
=not Event Manager
=not Market Researcher
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this Club for Only Marketers
Soon will open for all
Very Soon we will have
■ Business Leaders Club ■
For Sales Managers & Directors
Will be Not for Marketers
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جروب وصفحة الماركتينج كلووب عالفيسبوك
#Marketing_Club Group on Facebook
https://www.facebook.com/groups/837318003074869/
Now we can talk freely In all marketing topics
As open discussion all the time
On our Facebook group
Without disturbing anyone
on our 16 what'sApp groups
To keep what's app groups simple &to the point
Only 2 or 3 posts daily
■اتكلم براحتك على الفيسبوك■
وخلي الواتساب صور وكتبو وبوستات كاملة فقط حتى لا نزعج الناس
اشترك الآن في صفحة الفيسبوك
https://www.facebook.com/MarketingTipsPAGE/
اشترك الآن في جروب الفيسبوك
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لتسجيل بيناتك لتصلك بعض المحاضرات لو أمكن عالايميل
http://goo.gl/forms/RfskGzDslP
#Marketing_Club
#Mahmoud_Bahgat
00966568654916
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Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
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"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
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Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
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1. Submitted for the partial fulfilment of the award of
the degree of bachelor of business administration
A project report on
Study on creation
of a luxury brand
ALLPPT.com _ Free PowerPoint Templates, Diagrams and Charts
2. Defining luxury..
Luxury, luxury brand, luxury good.
Luxury is a state of great comfort or elegance, especially when
involving great expense.
Luxury good is a good for which demand increases more than
proportionally as income rises. It is in contrast to a “necessity good”, for
which demand increases proportionally less than income. A luxury good
is often synonymous with “superior” or “Veblen goods”.
A luxury brand or prestige brand is a brand for which a majority of its
products are luxury goods. It may also include certain brands whose
names are associated with luxury, high price, or high quality, though few,
if any, of their goods are currently considered luxury goods.
price, or high quality, though few, if any, of their goods are currently considered luxury goods.
3. Luxury at its best.
Birth of luxury
LVMH (Louis Vuitton Moet Hennessy) is the largest luxury good producer in
the world with over fifty brands, including Louis Vuitton, the brand
with the world's first designer label. The LVMH group made a profit of €2
billion on sales of €12 billion in 2003. Other market leaders include
Richemont and Kering (previously PPR, after it purchased the Gucci
Group).
A rather small group in comparison, the wealthy tend to be extremely
influential. Once a brand gets an "endorsement" from members of this
group, then the brand can be defined as a true "luxury" brand. An
example of different product lines in the same brand is found in the
automotive industry, with "entry-level" cars marketed to younger, less
wealthy consumers, and higher-cost models for older and more wealthy
consumers.
The advertising expenditure for the average luxury brand is 5-15 percent of
sales revenue. This rises to about 25 percent with the inclusion of other
communication such as public relations, events and sponsorships.
4. Faces of luxury brand
Rational Relational
Functional Emotional
Who are you?
•Very expensive.
•High brand awareness.
•Available in Flagship
stores.
•Technically superior.
•Very high in quality.
What about you & me?
•Status & stories.
•Satisfying role play
aspects.
•Symbolic & iconic
meaning.
•Class of own.
What are you?
•Extravagant designs.
•Unique craftsmanship.
•Not known for extensive
product use.
What about you?
•Memorable brand
experience.
•Social approval.
•High on hedonism.
•Satisfy desire.
7. 8 pillars of luxury
Performance
Performance refers to the delivery of superior experience of a
luxury brand at two levels – first, at a product level and second, at
an experiential level.
At a product level, fundamentally it must satisfy the functional and
utilitarian characteristic as well as deliver on its practical physical
attributes – a recipe of quality or design excellence ingredients like
craftsmanship, precision, materials, high quality, unique design,
extraordinary product capabilities, technology & innovation.
A luxury brand must perform at an experiential level as well, i.e.
the emotional value of the brand the consumers buy into – beyond
what the product is to what it represents. For example: Rolex
stands of symbol of heroic achievement & Tiffany is a
symbol of love and beauty.
8. Pedigree
Many luxury brands have a rich pedigree and extraordinary history that turn in to an inseparable
part of the brand’s mystique. This mystique is generally built around the exceptional legendary
founder character of the past, making up an integral part of the brand story and brand
personality.
So, when consumers buy say a Cartier or a Chanel product - it is not only because of the product
performance factor, but subconsciously they are also influenced by the brand’s rich lineage, herit
age and the years of mastery.
Coco Chanel started her business in 1913 and within
a few decades, became a
revolutionary couturier.
With Chanel Coco
Mademoiselle Campaigns in
1981,2008, 2009 & the
recent 2011, Chanel has
continuously leveraged
its pedigree / brand
mystique.
9. Paucity
Over-revelation-and-distribution of luxury brand can cause dilution of
luxury character, hence many brands try to maintain the perception
that the goods are scarce. Case in point - Burberry diluted its brand
image in the UK in the early 2000s by over-licensing its brand, thus
reducing its image as a brand whose products were consumed only by
the elite.
Natural paucity is triggered by scarce
ingredients like platinum, diamonds
etc. and/or those goods that require
exceptional human expertise for
example handcrafted quality that
constraints the mass production.
Technology-driven paucity is as a
result of conception-time involved
in continuous innovation and research
-&- development process.
Tactical- driven paucity are more
promotional in nature such as the limited
editions or the special series to
generate artificial desire and demand.
Natural paucity
Technical driven
paucity
Tactical driven
paucity
10. Persona
The persona of a luxury brand is largely a result of – first, its distinctive projection plus
coherence of its applications across consumer touch-points and second, the brand communication
through its advertising. The visual brand identity captures the brand’s personality, mystique &
emotional values in a nutshell. The distinct and consistent orchestration of the identity is central
to establishing the visibility, familiarity & common identifiable brand imagery.
11. Public Figures
Public-figure or celebrities have been traditionally employed as one of the mark
eting mix in luxury brand advertising and they still continue to garner attention,
credibility and impact.
Chopard has been official partner of the Cannes Film
Festival since last 14 years, showcasing and
premiering their collection by accessorizing celebrities
on the red carpet.
The Lebanese singer and UNICEF goodwill
ambassador Nancy Ajram was Cartier’s special
guest at the Cartier International Dubai Polo
Challenge held in Dubai, UAE in 2010.
12. Placement
The retail branded environment in luxury branding is all about heightening the consumer’s brand
experience and amplifying the brand aura. Hence, the branded environment, the movement of
truth, is where it must “live” the brand by orchestrating immaculate detailing that engages all
senses of the discerning audience.
Rolex associates itself with
more than 150 events in golf,
sailing, tennis, motor-sport,
arts and at equestrian
tournament vs. associating
with sports like football
/ cricket that have more mass
following.
13. PR(Public Relations)
PR in luxury branding plays an enormous role in image proliferation of the
brand, thereby subtly influencing public opinion. It is also employed to convey
other supporting messages and attributes of the brand which cannot be
explicitly captured in advertising, but by no means are less important to
create brand’s personality, mystique and emotional values – whether it’s via
the pedigree factor or via public-figure any of the previous 7 P’s mentioned.
PR is utilized to generate buzz & convey the brand news, point of views of
inspirers and influencers (celebrity talk or the designer speak), a crucial
support for brand activation (like the fashion weeks, sport-events, themed
previews, etc.).
14. Pricing
Pricing plays a quite a big role in the way consumers perceive luxury brands. Consciously or
sub-consciously, consumers tend to generate a mental luxury stature or image with the
price-range that the brand operates. Therefore, it is important for luxury brands to price
themselves right – as setting the price lower than the consumer expectation and willingness to
pay can potentially harm the brand value, whereas the reverse can potentially not given enough
justification for consumers to go ahead and buy.
Another way employed by luxury brands is by creating an extension into a secondary line with
relatively lower price points like Giorgio Armani’s - Armani
Exchange, Roberto Cavalli’s - Just Cavalli, Prada’s –
Miu Miu, Alexander McQueen’s - McQ lines.
20. The Indian Picture
Brand Conscious
The Indian customer is aware of world trends be
cause of growing travel overseas for business &
Leisure travel, where they get exposed to best
of the brands & luxury trends.
Price
Price Sensitive
Demand value for money which is mostly
because of traditional & cultural values.
21. Personalized connect
It is very important because Indian
consumer has high emotional association
with products they own or acquire.
High Expectations
High standards of service expectation
as the luxury consumer will mostly have
long term association with the product.
22. Victims of Habit
Consumers get accustomed to shopping abroad.
They ‘d rather spend 200 pounds on a shirt
There, than Rs. 200,000 here. It is tough
getting them to change.
Import duties are a headache
Steep duties translate to prices 15% higher than
in Europe. Jet setting wealthy Indians hence
shop abroad- means luxury brands often struggle
to make a profit in India. Indian presence is
often seen as just a branding exercise.
23. Indian men love to shop
Around the world, the mix is
a 60:40 (women vs. men),
but in India, its Skewed in
favour of Menswear.
Men's formal wear is the
fastest Growing segment
in India. So it makes
Sense to focus on this
segment.
24. This seasons trends are missing!
Luxury retailers offer a
limited product range &
stock second rung products
at astronomical prices.
The customer thus, opts to
buy from the stores abroad
instead.
India needs New
York’s Fifth Avenue
Luxury retailing in India
is limited to a few shopping
Plazas, select high locations,
Malls & five star hotels
lobbies. Just 3 centres
which are in the Luxury
segments are DLF
Emporium in Delhi,
UB City in Bangalore &
Palladium in Mumbai.
However the Right
location & retail
ambience for a brand
are crucial.
25. Indian market : the to do list.
Brands should be in for a 10 yr. Wait.
Doing business in India is definitely not a wham bam thank you mam & certainly not a “ aao toh
welcome, jao toh bheed kam” formula.
Its a slow process but one that will eventually pay long term dividends.
26. Brands can JV with local partners which can help them to understand local markets better.
with India’s FDI rules having a local partner becomes profitable.
Prime examples are Reliance brands with Diesel
Genesis colours with Burberry.
DLF brands with Boggi.
Partnership is the key.
27. Softer Price points.
Brands would benefit by keeping their price competitive & offering entry level
products as well.
Pricing products at a comparatively lower level than its international price can
be a great investment towards brand building.
The Indian customer seeks the thrill of making a ‘steal’ bargain.
Initially the brand can bear the higher import duties partly helping the
customer to get oriented with the brand.
Indianise product
Foreign brands need to understand
Indian Personality & fashion elements
to Indianise their products.
A win win situation for global
brands is to utilise the talented &
cost effective Indian designers.
It worked So well for others
so why not India.