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In the UK and broader European marketplace, there are a substantial amount of competitors, creating difficulties in achieving brand loyalty and differentiating the product in a way that makes it outperform other fragrances. “Consumers show less brand loyalty to fragrances than other cosmetics” (Min, 2004, p.44). When the marketplace is saturated with different competitors and consumers often defect from one brand to another, attempts at gaining loyalty would require concentrated promotion as part of an integrated marketing communications campaign.
Two main competitors, Prada brand and Christian Lacroix brand, are both high-cost perfumes in the UK and will be two main forces which can take market share away from this new brand: Invigo Arturo. Prada’s main communication strategy involves its reliance on past successes with its brand in product placement in a highly-successful American import movie entitled The Devil Wears Prada. At the online company Amazon, “their Devil Wears Prada-themed shop has sold out” (Friedman, 2006, p.6). This particular film and its product placement efforts brought much higher brand exposure to international audiences, thereby boosting sales of its perfume line. Unlike many other of Prada’s perfume competitors, they do not have to rely on excessive promotional communications since the brand is receiving a high consumer following in the luxury target markets.
Prada does not cater to niche markets, but essentially uses mass marketing concepts to reach their desired demographic: The affluent, female luxury goods consumer. In relation to perfume advertising, “A lot of what is seen in our culture is based on sex” (Newman, 2006, p.50). Prada, in its print advertisements, uses light sexuality when attempting to position its product among competitors. (See Appendix 1 for an illustration of Prada Perfume advertising). Prada appeals to the consumer, rather
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Since the competition has intensified in all industries and the environment has become highly competitive, it has become important for the companies to maintain relevance with their customers and avoid any kind of commoditization. It is believed by Belaid and Behi (2010) and Keller and Lehmann (2006) that in such kind of business environment, the only way to compete is to develop a strong brand that has a complete holistic view.
In today’s hypermarkets and supermarkets, diversity of product offerings that range from frozen foods to non-perishables conflict operational models, especially as it pertains to procurement. Diversified supply chains that ensure timely and efficient delivery of multiple products require constant analyses to determine whether merchandise purchased is meeting with long-term return on investment.
ormance, pricing, positioning and satisfaction. 42% of the individuals rated Toyota on its performance, 30% rated Toyota different from others on the basis of pricing, 10% rated it on its positioning and rest rated Toyota on the basis of satisfaction level.
At first a brand was merely a maker’s mark. To recognise who had created a product, goods are ‘branded’ with the name of the maker. The term ‘brand’ originates from the Scandinavian term for ‘fire’ and the concept of ‘branding’ is exactly to symbolise something with fire (Nilson 2003, 34).
Brand Analysis 8 3.1 Brand Image 8 3.2 Brand Identity 9 3.3 Brand Awareness 10 3.4 Brand Pyramid 11 Section 4. Special Interest: Advertising 12 Section 5. Brand Management Recommendation 13 Reference List 15 Rolex, the Luxury Watches Brand Introduction One of the most challenging phases in product development and design is branding.
BRAND PERSONALITY Introduction According to Aaker and Fournier (1995), brand personality is the “set of meanings constructed by an observer to describe the ‘inner’ characteristics of another person…that can be used to summarize complex behaviors and form expectations of future behaviors’ (p.
But what is a Brand A brand can be defined as "a name, term, sign, symbol or design, or combination of them which is intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competitors (Kotler 1991, p.
As a matter of fact, the majority of these brand equity models are based on an outside-in perspective focusing on the consumer's perception of the brand and the related buying and usage behavior. An integrated perspective including an internal perspective such as employees as an important internal source of brand equity has received little attention.
Brand management helps to develop a strong long-term emotional relationship between a brand and customer. Brand management represents a company product at the market. Branding can reveal about the company, its products, and services. Thus, brand management is an important marketing tool for any company which helps to create brand awareness.
On the other hand, the Chinese are highly receptive to imported goods. Because of this global brands became very popular among Chinese consumers. The Chinese consumers are more similar to Western consumers than Asian ones (Hilliard et al., 2012). Without a doubt, Chinese
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