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Luxury Brand Development, Management and Internationalisation

Luxury Brand Development, Management and Internationalisation. Dr. Satyendra Singh Professor, Marketing and International Business University of Winnipeg, Canada s.singh@uwinnipeg.ca www.uwinnipeg.ca/~ssingh5. The Concept of Branding: Add value first.

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Luxury Brand Development, Management and Internationalisation

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  1. Luxury Brand Development, Management and Internationalisation Dr. Satyendra Singh Professor, Marketing and International Business University of Winnipeg, Canada s.singh@uwinnipeg.ca www.uwinnipeg.ca/~ssingh5

  2. The Concept of Branding:Add value first Commodity Goods Service Experience 1₡-2₡ 5₡-25₡ 75₡-$1.5 $2-$2.50 Then we’ll do positioning, pricing, branding and communication around the value proposition.

  3. Sources (messages) of value to the brands • Mercedes  Engineering, sophistication and safety • MBW  engineering and driving • Nike  Performance • Starbuck  Best coffee experience • FedEx  Overnight • Harvard  Leadership skills • MIT  engineering and management • 3M Innovation • Luxury Dream!! Which dream? • You can brand anything  e.g. water, yourself…

  4. Lamborghini bicycle:$25,000 -- Lightest

  5. The Luxury: The Dream Club

  6. The Luxury: The Desire You pay $5000 Limousine ride, hovering photographers red carpet, 4 hysterical fans… Can you imagine?

  7. Characteristics of Luxury Brand Dream a dream with value Create exclusive club Functional  Given Exchange  Last long, can outlive you Emotional  You adore it, source of joy Mythical  There is something about it Ethical  Links to social responsibility Identity  Convey something about you

  8. Brand Content To sustain brand image To be the leader, set trends ↑ functional and emotional value How do we do it Educate customers  History and heritage Interviews, fashion shows, manufacturing process Link brand to community Show social responsibility Gucci (mrf process), Chloé (fashion show)  www

  9. Brand Identity Levis  Jeans with distinctive labels Missoni Knitted fabric in a special way Toblerone Chocolate, red/yellow packaging Tod’s Moccasins (shoes made from deerskin very soft, single piece of leather Ferrari  Red automobile LOGOS play important role in forming brand identity

  10. Luxury Brand and Social Responsibility Nike  Just do it  Surpass your determination Mont Blanc  UNICEF $10,000 for a dinner ticket Rich compete to donate! Singer Bono’s brand in Africa

  11. Luxury Customization – Rich like it Product LV : choose colour and material Point of delivery Bring receipt to customer, engrave their name Shopping experience Assistance to old people, spl invitation, discount Customization online  Online interaction Shop with a friend  live video chat assistance Sales $20m  $60m

  12. Online Product Display 50% of luxury brands are online now Virtual mannequins  360 degree pictures iSmell software  You can smell the product on your computer

  13. 10Cs of Luxury Fashion Online Marketing Customer value  Satisfaction Convenience Cost Communications  Faster and targeted Computing  Able to track online Customer franchise  Trust, live assistance Customer care Community  Social network Content Customization

  14. Luxury Logos  Simple Japanese like logos  more space for logos Europeans do not like logos on tie; US ok Icon  apple Indices  relationship (smoke means fire) Symbols  Ambiguous (Lion on Venice flag) Numbers, animals, initials, monograms,…

  15. Luxury Brand Hinge North European  Classical type Clear lines, contours, saturated colours, closed… shape, entirely visible Jil Slander, Ikea, Helmut Lang, BMW USA  Calvin Klein, Donna Karan Mediterranean Brands  baroque type Criss-cross, open, exaggeration, line shadows… Loewe, Ferragamo, Doice and Gabbana, Rubell, Majorica, Lamborghini, Versace, RonertoCavelli

  16. Internationalisation: Luxury Brand ① Create brands visibility  awareness, Expand product line, men  women ② License abroad 1st perfume then fashion ↑ advt for perfume ↑ brand awareness ③ Open flagship stores in big cities abroad. Balance Merchandise bw COS & franchisee ④ Buy back franchisee. Get new balance.

  17. Internationalisation by Brands LV  USA, Germany, Italy, Spain Burberry, Prada  China Audi  China: Chinese officials, made-in-China Hermés  Shang Xia …

  18. International Luxury Brand Management Brand development Initially one product line extensive variety and colour Brand registration Register brand in few countries first $2,000 - $3,000 per brand (lawyer fee, tax…) If target 100 countries  $200,000 - $300,000) Registration renewal Show proof of usages, or counterfeit operator Usually 20%-30% brands need renewals

  19. Brands Become International When $50m sales are reached 50% of public knows the logo New category is developed successfully No longer advertisement is needed to sell Brand outlives investor eg, 3rd generation Brand is present in USA, Europe and Asia

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