Marketing Strategies for Luxury Brands Essay Example for Free

Marketing Strategies for Luxury Brands demonstrateNew increases be continuously launched into the lavishly life heart and soul market each year. DKNYs recent assenting to the odourise market is DKNY Pure. As a competitor intending to introduce a similar w atomic number 18 into the luxury fashion soft touch perfume market, consumer behaviour has important implications for the design of a successful marketing outline. This report entrust outline which key factors marketers should attempt to fix in the design of a marketing strategy to introduce a rude(a) luxury brand perfume to the market. by dint of the use of harvest-festival positioning, identifying buying groups and the target market, extensive publicizing and operant teach marketers burn manipulate the consumer decision- devising serve up together with inborn and external influences leading to consumer obtain behaviour. From a marketing perspective luxury fashion brands argon outlined in by features muc h(prenominal) as exclusivity, premium prices, excellent quality, distinctiveness, image, status and other aspirational characteristics (Fionda Moore, 2009).For many consumers the purchase of luxury fashion brand perfume is a high-involvement and emotional decision (Sadeghi Tabrizi, 2011). These purchases involve the use of elongate decision-making with an extensive search of internal and external information and a considerable evaluation of alternative intersections visible(prenominal) (Quester, Pettigrew Hawkins, 2011). An extensive advertising campaign should be utilize the major marketing strategy for the introduction of a parvenue product in the luxury perfume market as it derriere be used to manipulate and influence consumer behaviour in a number of ways.Influencing the consumer decision-making process In order to influence the consumer decision-making process advertising mickle be used as external stimuli in order to detonate the first stage of the consumer decision making process problem or need recognition. Advertising quite a little influence consumer behaviour by affecting the consumers passiond show or their exist state (Quester, Pettigrew Hawkins, 2011), prompting the identification of perceived need or longing for a product.Strategic marketing campaigns much(prenominal) as preannouncements (for example through media releases or samples) can be used to influence consumer anticipation, attention and want or perceived need prior to the launch of a new product such as a luxury perfume (Schatzel Calantone, 2006). By at a lower placestanding the motives which pack consumers to purchase products and the of necessity they are want to satisfy marketers can target their advertising more effectively (Kotler et al, 2007).For luxury brand perfume advertising can be used to highlight the emotional need of the consumer focussing on their esteem needfully as described by Maslows Hierarchy of Needs (Kotler et al, 2007 Quester, Pettigrew Hawk ins, 2011). Emotional self-esteem needs can be effectively used in advertising luxury brand perfume to women by including messages and visuals which draw out sophistication, elegance, love and confidence.Feeling and emotion remarkablely shapes consumer intentions for perfume with consumers visualising, imagining, estimating and assessing the perceived feelings gained from purchasing and using the product (Sadeghi Tabrizi, 2011). intelligence Marketing drivings should focus on building customers sensing of both the brand and the product. Perception is a significant internal factor in a consumers purchase decision for luxury brand perfume. The perception process involves processing information from exposure, attention and interpretation with meanings recorded as memory (Kotler et al 2007).Consumer perceptions can be manipulated through product positioning in this case introducing a new perfumes under the familiar luxury brand image will position it in the high-end perfume market creating a perception that it is a similar high-end product. Identifying the desired product position allows marketers to design strategies to develop the appropriate product image for that crashicular target market (Quester, Pettigrew Hawkins, 2011). Perfumes are products that are comprised of both tangible and intangible characteristics knowing to satisfy consumers.Perceptions of quality can be influenced by the tangible (intrinsic) characteristics of the product for perfume this is the bottle and the package. Through the application of beautiful and clever product design and packaging marketers can manipulate consumer perception of the perfume and its image (Sadeghi Tabrizi, 2011). Intangible (extrinsic) characteristics such as price, store image or brand image overly serve to influence the consumers perception of quality (Quester, Pettigrew Hawkins, 2011).Setting higher prices for the perfume consistent with the product position and target market (Fionda Moore, 2009) and stocking the perfume in high-end department stores are strategies that can be utilize to infer quality and influence consumer perceptions of status. Brand image and brand awareness Brand leveraging strategies can be employed to capitalise on the brand equity of a familiar luxury brand by giving the brand material body to a new product (Quester, Pettigrew Hawkins, 2011).By introducing a new perfume using an established luxury fashion brand (either as a product or line extension) marketers can increase consumer recognition and acceptance of new products (Wu Lo, 2009) as good as making the most of the perceived intangible benefits associated with a positive brand image. A consumers positive perception of brand image of familiar luxury fashion brands has a significant effect on increase purchase intentions of the products produced by those brands.The creation and usage of a strong brand image can be used by marketers to reduce uncertainty around product evaluation (or perceived pu rchase risk) whilst overly increase confidence in product quality (Sadeghi Tabrizi, 2011). Consumers view brand as an important part of a product which adds perceived value to the product (Wu Lo, 2009 Sadeghi Tabrizi, 2011). Launching a perfume under an existing familiar brand with a positive brand image can generate competitive proceeds by increasing consumers interest and attention and resulting positive evaluation of a product (Fionda Moore, 2009).Further, consumers are likely to give greater attention to a familiar brand and to engage more effort in processing information about a product with a familiar brand name (Sadeghi Tabrizi, 2011). Brand spirit celebrity bit Brand personality is a key factor in brand identity and is passing influential in the consumer decision making process as it relates to the desire to satisfy needs of self-esteem and belonging (Rajagopal, 2006).Consumers are motivated to purchase products from brands that reflect their own personality or th at portrays personalities to which they aspire (Sirgy, 1982 Guthrie Kim, 2009 Spry, Pappu Cornwell, 2011). Celebrity endorsement is considered an effective strategy by marketers as a highly visible means of brand personality creation ((Rajagopal, 2006 Spry, Pappu Cornwell, 2011). Endorsement by celebrities influences consumer behaviour through attracting change magnitude attention, generating greater brand recall and recognition (Quester, Pettigrew Hawkins, 2011 Spry, Pappu Cornwell, 2011).Dean (1999, as cited in Spry, Pappu Cornwell, 2011) further posits that celebrity endorsement can excessively influence a consumers perceptions of product quality and distinctiveness. The effectiveness of using a celebrity to endorse a product will be enhanced if there is congruence amid the celebritys image, the product (and brand) personality and the self-concept of the target market (Quester, Pettigrew Hawkins, 2011).Market research should be conducted to cast perceptions of chosen c elebrities to ensure they are credible and have attributes that coincide with the target markets needs and desires (Quester, Pettigrew Hawkins, 2011 Spry, Pappu Cornwell, 2011). For the luxury brand perfume market such attributes should be based on attractiveness and image. study operant conditioning Consumers learn about products through the knowledge and experience gained from purchase and consumption (Quester, Pettigrew Hawkins, 2011).By understanding how consumers learn about products marketers can include information to assist and influence the consumer decision-making process. Operant conditioning is highly effective marketing strategy used to influence consumer behaviour particularly in high involvement purchases such as perfume (Peter Nord, 1982 Quester, Pettigrew Hawkins, 2011). Operant conditioning can shape positive documentation for consumer purchase intention (Amor Guilbert, 2009).By trialling, using tester bottles and sample spray cards the product consumers a re able to experience the perfume determine if they like the scent and if it smells good on their skin. Amor Guilbert (2009) suggest that consumers are more likely to respond to new perfume samples than established ones. Marketers can provide free samples during think purchases to encourage product trial (Amor Guilbert, 2009) which assists in capturing consumer attention and increasing product familiarity (Sadeghi Tabrizi, 2011).Placing samples in high-end fashion magazines will also assist with familiarity as well as perception of quality. Using free samples as promotional tools may also assist marketers in developing a positive attitude toward the sampled perfume product as well as toward to the brand (Amor Guilbert, 2009). External influences A consumers purchasing behaviour is also influenced by social factors. By identifying the roles in the buying process marketers can incorporate this information in the product design and advertising message decisions (Kotler et al 2007) .For womens perfume the same person might play several roles in the purchasing decision. The purchaser will often be the initiator of the purchase, the decider who at last makes the purchasing decision and the user or wearer of the perfume (Kotler et al). Products such as perfume that are completing to self-image are occasionally purchased by consumers as gifts for themselves. Marketers can target the fulfilment of self-gifting motivations by interspersing perfumes with other products such as cosmetics so that sales-staff might promote combining purchases (Mick, Demoss Faber, 1992).Males may also be purchasers of womens perfume as gifts. Identifying this group in the buying process will enable targeted marketing through the discipline of gift packs around peak gift periods such as Christmas, and Valentines Day. As shown in the above discussion through the use of extensive advertising campaigns marketers can influence consumer purchase intention through affect emotional need o r desire for the new perfume product as well as creating attention and awareness.Identifying and establishing the product position and the roles in the buying process will enable marketers to design and direct advertising at the desired target segments. The use of an established luxury brand to launch the product can influence consumers perceptions of quality and status of the brand and by association the perfume. Whilst credible celebrities can be used in advertising campaigns to attain or support brand personality influencing attention, increasing brand recognition and product recall as well as further addressing consumers desire for fulfilment of self-concept needs.Finally operant conditioning through the provision on free samples and testers will be used to shape consumer learning about the new product by positive reinforcement, as well as capturing consumer attention and further increasing brand awareness. By understanding the relevant influences of consumer behaviour to the n ew product marketers can incorporate this theory in order to manipulate the buying intentions and purchase behaviours of consumers and create a successful marketing campaign.