ELIE SAAB Brand Image - Case Study Example

Case study on ELIE SAAB I. Introduction The managing director of the company d Chucri Cavalcanti has discussed the strategic goals and strategy of the concerned company for the coming half of a decade. The goal of the company was to grow the brand new and the existing market while maintaining the exclusive brands and position of the few remaining established brands that are like the haute couture. Many company’s success in the last five years has grown rapidly in the ready-to-wear product line which has become the company’s new business tag line. II. Situation Analysis A. Mission Statement Clear vision for any organization is very important. In this case company ELIE SAAB is having very clear vision. The main objective of the company is to be a niche premium brand. Company wants to target its existing and new customer who belongs to the elite class of the society. Producing quality products is a very important objective of the company. Company knows that only selected elite people of the world are going to consider their brand. Company gives extraordinary service to its elite customers. Goal of the company is to provide a sense of glamorous life style to its customers. B. Organizational / Marketing Objectives Every organization has certain marketing objectives. ELIE SAAB is also having its marketing objectives. Main marketing objective is to target premium customers in the world. Company markets brands very carefully in selected way. ELIE SAAB chooses different gala events like Oscar awards, BAFTA awards and Grammy awards. Company uses those awards as marketing tools. Here lots of celebrities around the world come together and presence of media is also there. Such marketing technique easily catches the eyes of elite people around the worlds. Company gives lots of importance to communication and relationship marketing. Communication marketing objective is to create a unique image in the mind of the customers. Company spends lots of money for communication marketing purposes. Company spends very less in advertising purposes. ELIE SAAB is has a great brand image in the industry. It doesn’t believe that much in advertising. ELIE SAAB is also attached with different CSR activities, creating an image of philanthropy with the business. Company is also extending helping hands towards different young people. It is also a different marketing strategy. Company uses different fashion shows as their marketing strategies. Company makes strategic alliance to promote its products very well. C. SWOT Analysis This study would give a very clear picture about the strength, weakness, opportunity and threat of the company (Reuvid, 2012). Strengths: - Company is having a great brand image in the market. Elite people around the world know this brand very well. Brand has top of the mind image among the customers. Company is very innovative in nature. Company produces high quality of products. It never compromise with its customer services. Company is very clear about target customers. Company has very creative team. Company’s workforce is a great strength. Weakness: - Company only targets a much selected numbers of customers. Company is focuses towards ultra niche. Company doesn’t have great collection of casual wears. Company is over dependent on woman. It doesn’t have that much of collection in case of men. Company is having very limited products line of Haute Couture, RTW, Accessories and Wedding Dresses. Opportunity: - Numbers of celebrities in the world is increasing day by day. It creates lots of opportunities in front of the company. People are getting more and more fashion oriented. It opens up lots of prospects for the organization. Company has lots of opportunities to increase men’s wear collection. Opportunity is there to open more and more outlets in the new places of the world. Threat: - Company is facing threat from the competitors in the market. Competitors in the market are come up with new ideas. Every other player in this industry is trying to create a unique image of their brand. It makes the strategy of the ELIE SAAB very venerable. D. Competitive Analysis Company gives more emphasis on creating a different and uniqueness of products. Offering competitive pricing is also a vision for the company. At any cost company doesn’t want to reduce their image of premium brand. The company is very clear about the targeted market which is elite class of the world. Company is very comfortable within its niche range of premium customers. Company doesn’t want any experiments with that level of niche marketing. Company’s vision is very clear. According to the vision company is targeting its customers around the world. Company wants to be very competitive in the industry. Company is going more global and is planning to open its new counters in different parts of the world (Chaston, 2004). Exclusivity is one of the most important competitive analyses of the company. E. Market Analysis, Industry Analysis & Trends – Continuous market analysis is very important for any organization. This market is not free from that thing. Market analysis is very important to keep track with different market issues. Consumer test and preferences are changing each and every day. Different market is having different age group of people. USA, Europe is having aging customers on the other way Asia is having younger customers. Market analysis is also very important to understand the need of the customers which differs from place to place. Market analyses only can show that customers are going after more superior quality of products. Market analysis can give a picture about the newly developing markets for expansion. Industry analyses can clearly define different economic forces both (macro and micro) influencing the industry. This is a very niche industry of limited number of players. Industry is not monopoly. Limited players in the industries are battling hard among them (Kolb, 2008). There is very less difference between the market leader and the challenger. Industry is highly modernized backed up well with modern technologies. Industry is having very limited number of customers around the worlds. It is a very highly creative industry. There is no scope of complacency in the industry (Lamb, Hair and McDaniel, 2012). It is a trend that customers are generally strongly loyal for a brand. Cost of switching from one brand to another is very high. Modern trends of the industry are to be more flexible and customized. Industry is going through a transition phase from strict formals to somewhat casuals. Industry is trying to include more and more products in to its portfolio. Change is very much evident in the industry. Every player inside this niche industry is investing a lot to come up with new ideas of fashion. ELIE SAAB is planning to open its new counters in the different markets. Some of those markets are not very famous for fashion. It shows one modern trend of recognizing the emerging economic markets by the industry around the world. III. Problem/Opportunity Statement The company is expanding through many other forms of alliances. In the year 2008, ES has formed a strategic alliances with the Tatweer the Dubai properties to develop a signature hotels. For this an agreement was signed for developing an exclusive hotel amounting to $165 million bearing in the ES brands in the Tiger woods’ Dubai. “I am delighted to open my first boutique in London Harrods”, Saab has commented on the development of the of the RTW collection with a selections of the items and the accessories from the cocktail dress for the evening gowns and the wedding ceremony. The customers were seduced by the elegant show stopping creations that was available in the new boutique out there. Creating a fragrance was the next step in developing the ES brands and portfolio. BPI was chosen as a partner on creating the three mega Yachts, and the first Yachts was showcased in the at the Abu Dhabi Yachts show. It has always there in the vision of Saab for the modernity and elegance beyond the limits of the convectional fashions. To envision of the designs of yachts, the art of living. This accompanies for an exceptional opportunity to expand the brands throughout the universe by creating the experience of the un-expectable luxury. IV. Identification of Alternatives & Evaluation In June 2010, the first flagship company store was in the Gulf region in Dubai’s prestigious mall. The store showcased day and evening dresses, shoes and accessories. The Flagship store was an entry mode was it was particularly important in the key markets such as Dubai, Paris, and Beirut. This store was positioned to have a strategic building and business support functions, which is an important stage in the market development of the product that is to be launched. The company felt to partnering with a well known respected local company with extensive experience would be the best opening for the flagship company. Every year several many brands were launched to make the order, which was personally inspected by Saab. To reduce the constraints of fittings, the regular customers were use to keep the atelier. The new form of couture with the exceptional service was efficient and ultra-competitive. The brands grew to introduce into the existing market with a tag line3 of RTW which was required in the days. The company therefore provided the customers with more accessible garments that were name and style in order to leverage the brand and build a very effective business model. V. Selection, Implementation & Recommendations The company grew with lot of various modes of entry such as licensing, partnerships, third-party distribution and company owned stores. Each market is presented with different opportunities and challenges, and for this it requires a modified business strategy including the selection process of the most suitable partners and the entry mode. The collection of the ES team required a team effort so that it can work to develop the theme. The process involved in sharing the ideas and discussion regarding the needs and wants of the women and this is the primary target of the market. So it can work for developing the pattern of the product. The dress was featured at the fashion shows and pictures of the dress were then used for making printed catalogs and other marketing related materials. It was directly involved in all aspects for the tag line of the product from the production and sales and eventual a direct contact with the haute couture customers. The other area which was a direct involvement to the management for the brands that has given a very positive aspect of that product. The corporate communication department has implemented decisions that have been made by the Saab that fell under business side of the company. References Chaston, I. (2004). Knowledge-Based Marketing: The 21st Century Competitive Edge. SAGE: New Delhi. Kolb, B. (2008). Marketing Research: A Practical Approach. SAGE: London. Lamb, C., Hair, J. and McDaniel. C. (2012). Marketing. Cengage Learning: New York. Reuvid, J. (2012). Managing Business Risk: A Practical Guide to Protecting Your Business. Kogan Page Publishers: New York. Read More