Christian Diors Existing and Recommended Luxury Brand Strategies - Assignment Example

? Christian Dior’s Existing and Recommended Luxury Brand Strategies Number Total Number of Words: 3,757 Table of Contents Introduction .............................................................................................................. 3 1.1 Significance of the Project .................................................................... 3 1.2 Main Purpose and Research Objectives ............................................... 4 2. Literature Review ................................................................................................... 4 2.1 Importance of Conducting Brand Audit ............................................... 4 2.2 Interrelationship between Brand Positioning, Brand Association, Brand Identity, Brand Image, and Core Brand Value in Creating Brand Equity .......................................................................................... 6 2.3 Significance of Points-of-Differences and Points-of-Parity in Brand Positioning .................................................................................. 11 2.4 Importance of Brand Communication Campaign ................................. 11 2.5 Significance of Marketing Mix in the Use of Integrated Marketing Communication .................................................................... 12 3. Research Methodology ............................................................................................ 13 4. Analysis of Current Luxury Brand Audit and Its Strategies ................................... 14 5. Recommended Luxury Brand Strategies ............................................................... 16 References ......................................................................................................................... 17 – 21 Appendix I – Dior’s Fashion Designs ................................................................................ 22 Appendix II – Research Survey Questionnaire .................................................................. 23 Appendix III – Summary of Quantitative Research Findings ............................................ 24 Appendix IV – Summary of Qualitative Research Findings .............................................. 26 1. Introduction Established by a French fashion designer, Christian Dior sells a wide-range of fashion clothing for men and women of all ages, footwear, accessories, leather goods, fragrance, beauty products like make-up and skin care products, jewelleries, and timepieces (Christian Dior, 2013a). Today, Dior is competing with other luxury brands like Calvin Klein, Chanel, Givenchy, Gucci, Prada, Ralph Lauren, Versace, and Yves Saint Laurent (YSL) among others (Kapferer, 2008, p. 97). To ensure that the company is able to make its products readily available to its target customers, Dior is currently operating a total of 235 boutiques all over the world (Hoovers, 2013). On top of the number of boutiques this company is currently managing, Dior allows other retailers to sell its wide-range of men, women, and baby clothing, lingerie, perfumes, and other accessories under a limited number of business license (Lynne, 2013). As a luxury brand, Dior is one of the most successful in the world market. With total sales of €1.24 billion, Christian Dior Couture recently announced that the brand managed to experience a 24% increase in its total sales as of 2012 (Diderich, 2013; Fenner, 2013; Karmali, 2013; Spedding, 2013). 1.1 Significance of the Project The global economic and financial crisis which started back in 2007 has a significant impact over the economic instability which most developed and developing countries are currently experiencing (United Nations, 2011). Despite the financial and economic difficulty, it is surprising to know that the luxury brand such as in the case of Christian Dior has recently experienced a sharp growth in its annual sales (Diderich, 2013; Fenner, 2013; Karmali, 2013; Spedding, 2013). For this reason, the luxury brand Christian Dior was purposely chosen as the subject of this particular brand audit analysis. According to Kotler and Pfoertsch (2006, p. 191), “brand audit aims to assess the strengths and weaknesses of a given brand or brand portfolio”. In the process of conducting a brand audit analysis in the case of Christian Dior, it is possible to identify and verify the significance of any specific internal and external factor that could have contributed to the success of this particular brand (Havaldar, 2010, p. 179). Furthermore, Kaplan (2012) mentioned that the act of learning more about the weaknesses of the brand can serve as a strong foundation when it comes to developing a useful marketing plan for the said company. It means that in the process of learning more about the weaknesses of Christian Dior as a luxury brand, the marketing manager of this company will be able to come up with a list of effective brand strategies to further improve Dior’s future brand equity (Kaplan, 2012; Havaldar, 2010, p. 179). 1.2 Main Purpose and Research Objectives In relation to brand auditing, this report aims to examine brand-related factors that had triggered a significant increase in Christian Dior Couture’s 2012 total sales. To address the main purpose of this report, a combined quantitative and qualitative research survey questionnaire was purposely designed not only to measure the public consumers’ perception, attitude, and behaviour with the brand but also with the quality of its products and services. 2. Literature Review 2.1 Importance of Conducting Brand Audit Brand audit is actually a comprehensive analysis of brand performance or brand equity (Keller, 2008; Parameswaran, 2008, p. 225). To ensure that a company is able to maximize its full advantages over a brand, the brand audit purposely identify and analyze the short-term and long-term impact of a brand’s strengths and weaknesses by looking closely on what a specific brand has to offer to its target customers (Havaldar, 2010, p. 179; Parameswaran, 2008, p. 225). Using the SWOT and GAP analysis framework, conducting a brand audit will provide the marketing manager with unlimited opportunity to learn more about what its target customers know about the brand and eventually identify specific characteristics their target customers are looking for in a product and/or customer service (Marrs, Gajos and Musa, 2011). To conduct effective brand auditing, the marketing manager should first identify the main objective of the audit followed by internally describing how the brand is being marketed to the public (Havaldar, 2010, p. 179). It means that the first step towards a successful brand audit is to gather all information with regards to the brand, its target market, the close competitors of the brand, and other macroeconomic information concerning the business (Parameswaran, 2008, p. 225). After knowing the internal strategies used in promoting the brand, it is necessary to conduct an external investigation to measure and determine how the brand is able to meet its target customers’ expectations (Havaldar, 2010, p. 179). In most cases, external investigation can be done through the use of one-on-one interview strategies or the use of a research survey questionnaire in data collection (Havaldar, 2010, p. 179; Roll, 2006, p. 100). Eventually, the marketing manager should clearly analyse and interpret the data based on the “brand score card” results (Havaldar, 2010, p. 179). There are many reasons why marketing managers should regularly conduct a brand auditing analysis. First of all, the auditing results will give the company a better insight with regards to the strengths and weaknesses of the company’s current brand portfolio (Roll, 2006, p. 99). Basically, it is possible to narrow down the gap between the brand objectives and the target customers’ perception about the brand by gaining full understanding of its target customers’ specific wants and preferences in a brand (Kumar, 1998, p. 173). In the process of identifying and narrowing down the gap between the brand objectives and the target customers’ perception about the brand, the company can increase its future sales and profitability. Based on this information, the marketing manager would know how the company should effectively position the brand in the market (Roll, 2006, p. 99). By doing so, the company can develop useful brand strategies that can help its target customers build a strong awareness and close association with the brand. 2.2 Interrelationship between Brand Positioning, Brand Association, Brand Identity, Brand Image, and Core Brand Value in Creating Brand Equity Brand is considered as an intangible asset which can be used in persuading people to purchase a product (Neumeier, 2006). In general, effective branding is not limited on the use of a corporate name or logo but should focus more on allowing its target customers to feel special each time they are being associated with the brand (King, 2008). Based on this context, effective branding should be able to satisfy not only the functional demands of the target customers but also their emotional demands (Glynn and Woodside, 2009, p. 120; Ghodeswar, 2008). It is necessary to create a strong customer loyalty so as to encourage Dior’s existing customers to continuously re-purchase its products, promote the brand through word-of-mouth, and stay loyal to the brand (Brunner, Stocklin and Opwis, 2008; Sandoh and Ismail, 2007; Schultz, 2005). In general, the use of effective branding strategy can help the company create brand loyalty (Sandoh and Ismail, 2007). To be able to effectively develop a strong customer loyalty, it is important to know the interrelationship between effective brand positioning, creating a strong brand association, the need to create brand identity and brand image when establishing a core brand value. The target market of Dior includes the high-income earning men and women between the ages of 40 and above who are conscious with regards to fashion clothing (Muhlbacher, Leihs and Dahringer, 2006, p. 43). As a common knowledge, brand positioning is all about positioning the brand within a specific product category (Sujan and Bettman, 1989). For this reason, Dior decided to position its brand as a unique luxury brand. As a trendsetter in the global luxury brand clothing, the brand image of Dior is unique in the sense that Christian Dior Couture is capable of creating romantic, feminine, glamourours, and fetish clothing collections that could easily attract women who are capable of paying the premium price for the brand (Christian Dior, 2013b; Holgate, 2012). For bags and other accessories, Dior is maintaining a brand image that is simple, classic, yet trendy style (Dham, 2013). Effective brand image should make Dior’s target customers feel satisfied and be able to diferentiate the brand from those coming from its close competitors (Hsieh, Pan and Setiono, 2004, p. 252). On top of a highly competitive product quality, several studies strongly suggest that the brand image that Dior is projecting is one factor that can increase or decrease customer loyalty (Sandoh and Ismail, 2007; Bennett and Rundle-Thiele, 2005). Therefore, it will always be a challenge for this brand to maintain its identity as one of the most highly competitive brands for the elite. (See Appendix I – Dior’s Fashion Designs on page 22) As a good source of competitive advantage on the part of the company, the marketing manager of Dior should exert extra effort in creating a favourable brand image which could increase customer loyalty, purchasing behavior, brand equity, and overall brand performance (Hsieh, Pan and Setiono, 2004; Koo, 2003; Faircloth, Capella and Alford, 2001; Roth, 1995). By creating a strong positive brand image, Dior will be able to make its target customers feel more associated with the brand. Using market segmentation technique, Dior and its the target customers will be able to benefit from its positive brand value and a positive brand association respectively (O'Neill and Mattila, 2010; Kim and Kim, 2004). Through effective brand positioning, Dior could easily create and establish brand awareness, brand familiarity, and brand loyalty among its target customers (O'Neill and Mattila, 2010; Kim and Kim, 2004). In the process of developing brand awareness, a strong perceived quality, brand association, and brand loyalty, Dior will be in a better position to create a strong brand equity (Aaker and Joachimsthaler, 2000; Urde, 1999). (See Figure I – Brand Hexagon below) Figure I – Brand Hexagon Source: Urde, 1999, p. 130 Specifically the brand model presented by Urde (1999, p. 130) clearly shows the importance of creating a vision and mission which can be used in alignining the brand positioning of its brand name with the product and product category which will purposely be communicated with its target customers in order to develop a stronger brand association, brand awareness, and brand loyalty among its audiences. By doing so, the company can benefit from being able to set a positive brand equity. Keller’s brand equity model is also useful when it comes to explaining the success of Dior as a luxury brand. Referring to Keller’s model, “salience” is all about being able to create brand identity or brand awareness among its target customers (Hutt and Speh, 2013, p. 175). Basically, one can easily promote a brand identity through the use of a unique selling proposition strategy. In the process of building a strong brand identity, marketing managers should make sure that the brand can stand out among other similar brands. The second step is to create a brand meaning by communicating the brand to its target customers. Using different integrated marketing communication (IMC) strategies, it is possible to develop strong brand awareness among the public consumers. Often times, brand positioning should be done through the use of points-of-difference and points-of-parity strategies (Hutt and Speh, 2013, p. 176). At this point, it will be a challenge on the part of the marketing manager to make sure that the products they sell can meet and satisfy not only the physical but also the social and psychological needs of their target customers. The third step focuses on analyzing the brand response coming directly from its target customers. At this point, the marketing manager should be sensitive to the “feelings” and “judgments” of the public consumers with regards to the quality of product they sell and the credibility of the brand per se (Hutt and Speh, 2013, p. 175; LaPointe, 2005, p. 119). It means that the marketing managers should be able to tell whether or not the brand image they have developed can effectively make their target customers able to associate themselves with the brand (Hutt and Speh, 2013, p. 175). This can be done by conducting a primary research study using either interview technique or a quantitative research survey method. For example, do their target customers feel classy or socially respected when using the brand? The last and highest stage of Keller’s hierarchy of brand equity model is more focused on determining how well the company’s target customers are able to develop a sense of strong customer loyalty or active engagement to the brand (Hutt and Speh, 2013, p. 175). One of the main reasons why brand resonance was placed on the top most part of the hierarchy is due to the fact that winning the loyalty of its target customers has always been the hardest part to do. (See Figure II – Keller’s Customer-Based Brand Equity (CBBE) Model below) Figure II – Keller’s Customer-Based Brand Equity (CBBE) Model Source: LaPointe, 2005, p. 119; Keller, 2007, p. 19 2.3 Significance of Points-of-Difference and Points-of-Parity in Brand Positioning The brand image and brand identity plays a crucial role when it comes to effective brand positioning (Salver, 2005, p. 93). In line with this, the points-of-difference (POD) and points-of-parity (POP) are considered as a significant part of brand auditing which aims to identify and analyze the target market, proper brand positioning, and market competition (Marrs, Gajos and Musa, 2011). Basically, the role of POD and POP in brand positioning serves as a guide on how the marketing manager should position the brand in the market. Based on certain category, the POP aims to communicate the brand or a product equally to its close competitors (Salver, 2005, p. 93). It means that POP can be used in developing a clear product category for Dior. On the other hand, the POD aims to create a unique strategy that can effectively differentiate a brand as compared to its close competitors (Moore and Pareek, 2010, p. 14; Salver, 2005, p. 93). Often times, POD includes criteria that are related to brand performance, competitive advantage, the development of a unique selling proposition (USP), and perceived brand uniqueness (Marrs, Gajos and Musa, 2011). By creating a product or brand differentiation as its USP, the marketing manager of Dior will be able to develop a justified brand preference for its target customers (Ramos and Cota, 2008, p. 152). 2.4 Importance of Brand Communication Campaign The use of integrated brand communication techniques either on print or online advertisement is effective in terms of creating public relations between the company and its target customers (Katrandjiev, 2000). Likewise, it can also be use to increase the company’s sales through personal or direct selling (Carlson, Grove and Dorsch, 2003; Katrandjiev, 2000). In some cases, the use of an integrated brand communication campaign is essential in terms of sending out messages which can help the public consumers develop brand awareness or effectively recall a certain brand or a product line (Delgado-Ballester, Navarro and Sicilia, 2012) or establish a strong association with the brand (Finne and Gronroos, 2009). In the study that was conducted by Delgado-Ballester, Navarro and Sicilia (2012), the authors explained that brand familiarity is necessary before a company can fully benefit from the use of an integrated brand communication campaign. It means that the process of creating brand awareness of an unknown brand is very important. To easily create long-term brand awareness, the use of celebrity endorsers can help luxury clothing companies establish a strong brand (Radon, 2012). Based on the in-depth interview that was conducted by Radon (2012), the public consumers of luxury products are strongly influenced by their endorsers even though the company does not explicitly pay the celebrities who are using their products. In the case of Dior, this company is using several celebrity endorsers such as Elizabeth Taylor, Jennifer Lawrence, Marion Cotillard, Marlene Dietrich, Natalie Portman, and Penelope Cruz (Magsanoc, 2013; Woollard, 2013; Lamb, 2012). Among these celebrities, Natalie Portman plays a significant role in Dior’s latest brand image (Woollard, 2013). It simply means that the use of known and unknown models or celebrity endorsers ply a significant role in terms of developing the company’s brand core values. 2.5 Significance of Marketing Mix in the Use of Integrated Marketing Communication Recently, the marketing mix of integrated marketing communication (IMC) has moved from the 4P’s known as the product, price, place, and promotion to the application of the 4C’s which stands for customer, cost, convenience, and communication (Smith, 2003). Although the concept between 4P’s and 4C’s is somewhat similar with one another, there are distinctive differences between these two classifications. For example, instead of focusing on the quality of the products being sold by a company, the marketing mix in IMC is more focused on determining the specific needs and wants of its target customers (Smith, 2003). With regards to pricing, the marketing mix in IMC is more concerned on determining whether or not the products and services a company is selling are affordable on the part of its target customers. With regards to place, the marketing mix in IMC is more concerned on its target customers’ convenience in terms of being able to purchase their products and services. In terms of communication, the marketing mix in IMC is more concerned on being able to establish a two-way communication line between the company and its target customers1. 3. Research Methodology Similar to the brand audit that was conducted by Rolex (Marrs, Gajos and Musa, 2011), this report will focus its brand audit on examining its target customers’ perception and idea about the brand including factors that may have contributed to stronger brand equity. In line with this, a total of 50 research survey questionnaires were distributed to the public consumers. A combined explanatory non-experimental research questions that are answerable by “yes” or “no” and several Likert scale type of questions were used in this study. Furthermore, the research questionnaire was designed to allow the research survey respondents to provide a subjective response as to why they chose not to purchase items with luxury brands. (See Appendix II – Research Survey Questionnaire on page 23) All quantitative information such as the simple statistical measurement which includes the basic computation of frequency and percentage were computed using the Microsoft Office Excel 2007 software whereas qualitative audit results were analyzed together with the gathered literature review as presented on Chapter II. 4. Analysis of Current Luxury Brand Audit and Its Strategies The research respondents were mostly female more than 41 years of age. Majority with 42% of the research respondents said that they have purchased luxury brands in the past. The main reason why some people do not purchase Dior products is because they cannot afford to pay the premium price. Only few respondents do not purchase Dior products because of its availability in the market. There is no problem when it comes to creating brand awareness among Dior’s target customers. When asked if the research respondents are familiar with the brand, all of them said “yes”. However, only 26% of the research respondents said that they have tried purchasing a dress or clothing from Dior. Dior has been successful in terms of positioning its brand as something that can easily attract high-income earning men and women between the ages of 40 and above who are highly conscious with regards to fashion clothing (Muhlbacher, Leihs and Dahringer, 2006, p. 43). Based on the quantitative audit results, all of the research respondents considered Dior as a “good brand” and that majority with 82% of them said that the products they sell are “attractive and glamorous”. Upon analyzing the case of Christian Dior, there seems to be a clear gap when it comes to the use of integrated marketing communication, value for money, and availability of the brand in the market. In line with this, majority with 80% said that they disagree with the idea that the brand is often communicated to the public. When it comes to the store location, majority with 70% said that they totally disagree with the idea that they can easily purchase the brand in any store. With regards to pricing, majority with 66% said that they disagree that the brand offers great “value for money”. It only means that a lot of the public consumers are unable to purchase Dior products because of its high price. This further explains why only 62% of the research respondents were able to state that they strongly agree that Dior offers high quality products and that very few of them are loyal to the brand. In fact, only 82% of the research respondents are willing to recommend the brand to their friends. All of the research respondents strongly agree that the more satisfied they are with the brand, the more loyal they become to Dior. Although gaps were clearly identified in this report, the research findings also suggest that the branding strategy used by Dior has some strength to consider. In line with this, all of the research respondents revealed that they can easily recall and associate themselves with the brand. 5. Recommended Luxury Brand Strategies Based on Keller’s CBBE Model, Dior’s existing branding strategy has been successful in creating a strong brand salience and unique brand association. However, there is a problem when it comes to reaching the brand resonance stage due to a negative reaction when it comes to the research respondents towards the brand. To narrow down the gap in Dior’s branding strategy, this report highly recommends the need to make full use of its brand communication campaign and increase the number of its available store location. Since it will be costly to maintain their own retail store outlet, it could be more feasible if this company would consider entering into a business deal with other expert retailers in different countries that can maintain the prestige and credibility of Dior as a luxury brand. When it comes to pricing, Dior should maintain its premium price so as to preserve the quality of its brand equity. To serve the specific needs and wants of those price conscious individuals, the use of brand extension is highly recommended. By doing so, Dior can maintain the prestige of its brand without causing any unnecessary harm to its name. References Aaker, D. and Joachimsthaler, E. (2000). Brand Leadership. London: Free Press. Bennett, R. and Rundle-Thiele, S. (2005). The brand loyalty life cycle: Implications for marketers. Brand Management, 12(4), pp. 250–263. Brunner, T., Stocklin, M. and Opwis, K. (2008). Satisfaction, image and loyalty: New versus experienced customers. European Journal of Marketing, 42(9/10), pp. 1095-1105. Carlson, L., Grove, S. and Dorsch, M. (2003). Services advertising and integrated marketing communications: an empirical investigation. Journal of Current Issues and Research in Advertising, 25(2), pp. 69-82. Christian Dior. (2013b). Autum-Winter 2013 - The Inspiration. [Online] Available at: http://www.dior.com/couture/en_gb/fashion-accessories/woman/ready-to-wear/inspiration/autumn-winter-2013 [Accessed 15 June 2013]. Christian Dior. (2013a). Official Website. [Online] Available at: http://www.dior.com/home/en_gb [Accessed 15 June 2013]. Delgado-Ballester, E., Navarro, A. and Sicilia, M. (2012). Revitalising brands through communication messages: the role of brand familiarity. Emerald . Dham, A. (2013). Christian Dior Paris. [Online] Available at: http://issuu.com/anamikadham20/docs/christian_dior_project [Accessed 15 June 2013]. Diderich, J. (2013, February 4). Christian Dior Couture Sales Jump 24% in 2012. WWD. [Online] Available at: http://www.wwd.com/business-news/financial/christian-dior-couture-sales-jump-24-6689203 [Accessed 15 June 2013]. Faircloth, J., Capella, L. and Alford, B. (2001). The effect of brand attitude and brand image on brand equity. Journal of Marketing Theory and Practice, 9(3), pp. 61-74. Fenner, J. (2013, February 4). Business, Man: Christian Dior Couture Sales Increase by 24 Percent. [Online] Available at: http://www.fashionologie.com/Christian-Dior-Couture-Sales-Up-24-Percent-27270729 [Accessed 14 June 2013]. Finne, A. and Gronroos, C. (2009). Rethinking marketing communication: From integrated marketing communication to relationship communication. Journal of Marketing Communications, 15(2-3), pp. 179-195. Ghodeswar, B. (2008). Building brand identity in competitive markets: a conceptual model. Journal of Product & Brand Management, 17(1), pp. 4-12. Glynn, M. and Woodside, A. (2009). Business-to-business Brand Management: Theory, Research and Executive Case Study Exercises. Bingley: Emerald Group Publishing. Havaldar, K. (2010). Business Marketing: Text & Cases. 3rd Edition. New Delhi: Tata McGraw Hill. Holgate, M. (2012, January 22). Fashion Show: Christian Dior - Spring 2012 Couture. [Online] Available at: http://www.vogue.com/fashion-week/spring-2012-couture/christian-dior/review/ [Accessed 15 June 2013]. Hoovers. (2013). Christian Dior Company Information. [Online] Available at: http://www.hoovers.com/company-information/cs/company-profile.Christian_Dior.296dff7505c01778.html [Accessed 15 June 2013]. Hsieh, M., Pan, S. and Setiono, R. (2004). Product-, corporate-, and country-image dimensions and purchase behavior: A multicountry analysis. Journal of the Academy of Marketing Science, 32(3), pp. 251–270. Hutt, M. and Speh, T. (2013). Business Marketing Management: B2B. 11th Edition. Mason, OH: South-Western Cengage Learning. Kapferer, J.-N. (2008). The New Strategic Brand Management: Creating and Sustaining Brand Equity. 4th Edition. London: Kogan . Kaplan, A. (2012, September 12). The benefits of a brand audit for your business. My Business. [Online] Available at: http://www.mybusiness.com.au/experts/the-benefits-of-a-brand-audit-for-you-business [Accessed 15 June 2013]. Karmali, S. (2013, February 4). Dior Couture Sales Soared In 2012. Vogue. [Online] Available at: http://www.vogue.co.uk/news/2013/02/04/christian-dior-couture-sales-rise---raf-simons-first-collection [Accessed 14 June 2013]. Katrandjiev, H. (2000). Some aspects of measuring integrated marketing communications (IMC). Economics and Organization, 1(8), pp. 87-93. Keller, K. (2007). Strategic Brand Management. 3rd Ed. Upper Saddle River, NH: Prentice Hall. Keller, K. (2008). Strategic Brand Management: Building, Measuring, and Managing Brand Equity. 3rd Edition. Upper Saddle River, NJ: Pearson Prentice Hall. Kim, W. and Kim, H. (2004). Measuring customer-based restaurant brand equity: investigating the relationship between brand equity and firms' performance. Cornell Hotel and Restaurant Administration Quarterly, 45(2), pp. 115-131. King, W. (2008). Ezine. Importance of Branding - What's in a Name? [Online] Available at: http://ezinearticles.com/?Importance-of-Branding---Whats-in-a-Name?&id=34316 [Accessed 15 June 2013]. Koo, D. (2003). Inter-relationships among store images, store satisfaction, and store loyalty among Korea discount retail patrons. Asia Pacific Journal of Marketing and Logistics, 15(4), pp. 42–71. Kotler, P. and Pfoertsch, W. (2006). B2B brand management. NY: Springer Berlin-Heidelberg. Kumar, G. (1998). Sociology of Information Management. Har-Anand Publications. Lamb, R. (2012, April 4). What packs more punch: unknown models or celebrity endorsements? Luxury Daily. [Online] Available at: http://www.luxurydaily.com/what-packs-more-punch-unknown-models-or-celebrity-endorsements/ [Accessed 15 June 2013]. LaPointe, P. (2005). Marketing by the Dashboard Light: How to Get More Insight, Foresight, and Accountability. US: ANA. Lynne, C. (2013). Christian Dior, Fashion Designer. [Online] Available at: http://fashion.infomat.com/christian-dior-designer.html [Accessed 15 June 2013]. Magsanoc, K. (2013, March 1). Video: Jennifer Lawrence for Dior Handbag. [Online] Available at: http://www.rappler.com/life-and-style/22877-video-jennifer-lawrence-for-dior [Accessed 15 June 2013]. Marrs, M., Gajos, R. and Musa, P. (2011). Utilizing brand audit to develop university brand: a case study. Proceedings of ASBBS, 18(1), pp. 964-975. Moore, K. and Pareek, N. (2010). Marketing: The Basics. 2nd Edition. Oxon, OX: Routledge. Muhlbacher, H., Leihs, H. and Dahringer, L. (2006). International Marketing: A Global Perspective. 3rd Edition. London: Thomson Learning. Neumeier, M. (2006). The Brand Gap: How to Bridge the Distance Between Business Strategy and Design. Berkekley, CA: New Riders Publishing. O'Neill, J. and Mattila, A. (2010). Hotel Brand Strategy. Cornell Hospitality Quarterly, 51(1), pp. 27-34. Parameswaran, M. (2008). Building Brand Value: Five Steps to Building Powerful Brands. 2nd Edition. New Delhi: Tata McGraw-Hill Publishing. Radon, A. (2012). Unintended Brand Endorsers’ Impact on Luxury Brand Image. International Journal of Marketing Studies, 4(1), pp. 108-115. Ramos, A. and Cota, S. (2008). Search Engine Marketing. McGraw Hill Professional. Roll, M. (2006). Asian Brand Strategy: How Asia Builds Strong Brands. NY: Palgrave Macmillan. Roth, M. (1995). Effects of global market conditions on brand image customization and brand performance. Journal of Advertising, 24(4), pp. 55–72. Salver, J. (2005). Brand Management in the Hotel Industry and Its Potential for Achieving Customer Loyalty. Norderstedt: Grin Verlag. Sandoh, S. and Ismail, I. (2007). The effect of brand image on overall satisfaction and loyalty intention in the context of color cosmetic. Asian Academy of Management Journal, 12(1), pp. 83-107. Schultz, D. (2005). The loyalty paradox. Marketing Management, 14(5), pp. 10–11. Smith, K. (2003, April 4). The Marketing Mix of IMC: A move from the 4P's to the 4C's. [Online] Available at: http://59.67.71.237:8080/ad/ziliao/the%20move%20from%204p%20to%204c.pdf [Accessed 15 June 2013]. Spedding, E. (2013, February 4). The Raf Simons Effect! Christian Dior Couture Sales Rise 24% in 2012. Grazia Daily. [Online] Available at: http://www.graziadaily.co.uk/fashion/news/christian-dior-couture-sales-jump-24--in-2012 [Accessed 14 June 2013]. Sujan, M. and Bettman, J. (1989). The effects of brand positioning strategies on consumers' brand and category perception: some insights from schema research. Journal of Marketing Research, 26(4), pp. 454-467. United Nations. (2011). World Economic Situation and Prospects 2012. Global economic outlook. http://unctad.org/en/Docs/wesp2012pr_en.pdf [Accessed 14 June 2013]. Urde, M. (1999). Brand Orientation: A Mindset for Building Brands into Strategic Resources. Journal of Marketing Management, 15, pp. 117-133. Woollard, D. (2013). Natalie Portman is the new face of Miss Dior Cherie. [Online] Available at: http://www.luxist.com/tag/celebrity+endorsement+deals/ [Accessed 15 June 2013]. Appendix I – Dior’s Fashion Designs Source: Google Images, 2013 Appendix II – Research Survey Questionnaire 1. How old are you? ___ below 18 y/o ___ 19 – 25 y/o ___ 26 – 30 y/o ___ 31 – 35 y/o ___ 36 – 40 y/o ___ above 41 y/o 2 What is your gender? ___ Male ___ Female 3 Do you purchase luxury brands? ___ Yes ___ No If not, why? ___________________________________________________________ _____________________________________________________________________ _____________________________________________________________________ _____________________________________________________________________ 4 Are you familiar with the brand Dior? ___ Yes ___ No 5. Have you ever purchase a dress or clothing sold by Dior? ___ Yes ___ No 6. With regards to Dior, kindly indicate the degree of your agreement to the words below. Appendix III – Summary of Quantitative Research Findings Total Number of Respondents: 50 Question Frequency Percentage 1 Age: Below 18 y/o 3 6 19 – 25 y/o 2 4 26 – 30 y/o 5 10 31 – 35 y/o 8 16 36 – 40 y/o 11 22 Above 41 y/o 21 42 2 Gender: Male 9 18 Female 41 82 3. Do you purchase luxury brands? Yes 29 58 No 21 42 4 Are you familiar with the brand Dior? Yes 50 100 No 0 0 5. Have you ever purchase a dress or clothing sold by Dior? Yes 13 26 No 37 74 Appendix IV – Summary of Qualitative Research Findings I do not purchase luxury brands because: I do not have enough money to spend on luxury items. No money. Luxury brands are expensive. I cannot afford luxury products. I spend a lot of time at work which makes me unable to visit stores that sell Dior products. Quality of products is good but more of a question of money. I wish I can afford to have at least one Dior clothing. Luxury items are not a necessity in life. Note: Only 8 out of 21 provided a subjective response for this question. Read More