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Versace belongs to the luxury fashion industry and distributes exclusively designed clothing, accessories and other lifestyle products (Moore, Doherty & Doyle, 2010). These products are of superior design, quality and craftsmanship. Versace marketing is a more effective and less expensive branding technique. Advertising As a new mode of advertising, they are exclusively branded with a recognized insignia and design handwriting. In addition, they use fashion shows to show case their products before they are launched as this immediately appeals to those who seek youthful luxury.
Moreover, Versace use their website as the advertising medium. They run separate advertising campaign on their website for fashion accessories and clothing, for both men and women. Versace also brings out its own magazine which keeps their customers informed of the latest trends in the fashion industry. They use their social responsibility efforts in advertising the brand. However, they do not spend money on advertising through the television. Understanding the importance of marketing, the owner tied up with a photographer to bring out the essence of his clothing in all advertisements (GLBTQ, 2002).
Direct sales They reach out to the fashion conscious customer directly through Twitter where discussions on fabric, its quality and performance are openly discussed and suggestions/feedback invited. They have already segmented their target customers and know how to reach them. They have also created a string visible profile on the social networking sites and they have also ensured people know where and how to find them on the various networks. As people get connected they exchange view/opinions about the Versace products and this is how they achieve direct sales.
The purpose of social media itself is to connect with people and not people connecting with brands. Sales promotions To build confidence among the customers, they offer 30-day money back guarantee (FragranceX, 2011). For orders placed online, they offer free shipping, thereby attracting the existing customers, and creating new ones. Public relations They use celebrities as models instead of using unknown people. This could possibly be the reason that Versace fashions are being born by stars such as Madonna and others (Celebritygossip, 2011).
This strategy is responsible for the quick spread of this label throughout the US and the UK. Companies in the fashion sector transfer vulnerable and socially responsible image associations to the corporate brand (Uggla, 2006). Versace has signed up Christina Aguilera for their premium brand Italian clothes and this strategy has added to their corporate brand personality. They use social networking sites such as FaceBook and Twitter to enhance their image. They have also started producing eco-friendly products as a part of their public relations strategy.
Versace does not use celebrities as endorsers but they get them to use Versace products, which is a far better brand building strategy as it helps the consumer to associate him/herself with the influencers (McKnight, 2009). The organization does not need to go to the masses but to the selected few that matter. Thus, in the case of Versace, celebrities work as influencers and not as endorsers. In fact the models are used as advertisements for his products and he then gives away the clothing to the model.
References Celebritygossip. (2011). Donatella Versace Bio (Biography). Online 06 May 2011 from http://www.celebritygossip.com/celebrities/donatella-versace/ FragranceX. (2011). VERSACE. Online 06 May 2011 from http://www.fragrancex.com/products/_bid_Versace-am-lid_V__brands.html GLBTQ. (2002). Versace, Gianni (1946-1997). Online 06 May 2011 from http://www.glbtq.com/arts/versace_g.html McKnight. (2009). Versace Marketing in a Gap World. Sacrilious marketing. Online 06 May 2011 from http://sacriliciousmarketing.
com/2009/marketing-strategies/resources/uncategorized/versace-marketing-in-a-gap-world/ Moore, C.M., Doherty, A.M., & Doyle, S.A. (2010). Flagship stores as a market entry method: the perspective of luxury fashion retailing. European Journal of Marketing. 44 (1/2), 139-161 Uggla, H. (2006). The corporate brand association base A conceptual model for the creation of inclusive brand architecture. European Journal of Marketing, 40 (7/8), 785-802
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