Marketing Strategies for Luxury Brands Essay Example for Free

Marketing Strategies for Luxury Brands EssayNew crossings argon continuously sended into the high life fragrance market each year. DKNYs recent addition to the odorize market is DKNY Pure. As a competitor intending to introduce a similar ware into the luxury fashion blade wind market, consumer behaviour has important implications for the spirit of a successful merchandising strategy. This paper bequeath outline which key factors marketers should attempt to charm in the design of a marketing strategy to introduce a in the altogether luxury brand kernel to the market. Through the use of product positioning, identifying purchase groups and the invest market, extensive advertising and operant instruct marketers dirty dog manipulate the consumer decision-making process together with internal and external influences leading to consumer purchase behaviour. From a marketing perspective luxury fashion brands argon defined in by features such(prenominal)(prenominal) as exc lusivity, 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 stirred decision (Sadeghi Tabrizi, 2011). These purchases involve the use of extended decision-making with an extensive search of internal and external development and a considerable evaluation of alternative products available (Quester, Pettigrew Hawkins, 2011). An extensive advertising campaign should be used the major marketing strategy for the introduction of a impudent product in the luxury perfume market as it brush off 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 groundwork be used as external stimuli in order to trigger the first stage of the consumer decision making process problem or need recogn ition. Advertising can influence consumer behaviour by affecting the consumers propensityd state or their existing state (Quester, Pettigrew Hawkins, 2011), prompting the identification of perceived need or desire for a product.Strategic marketing campaigns such as preannouncements (for example through media releases or samples) can be used to influence consumer anticipation, attention and desire or perceived need prior to the launch of a new product such as a luxury perfume (Schatzel Calantone, 2006). By down the stairsstanding the motives which direct consumers to purchase products and the demand they atomic number 18 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 needs as described by Maslows Hierarchy of Needs (Kotler et al, 2007 Quester, Pettigrew Hawkins, 2011). Emotional self-esteem needs can be effec tively used in advertising luxury brand perfume to women by including messages and visuals which suggest sophistication, elegance, love and confidence.Feeling and emotion heartyly 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). Perception Marketing efforts should focus on building customers perception 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 preserve 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 foundericular target market (Quester, Pettigrew Hawkins, 2011). Perfumes are products that are comprised of both tangible and intangible characteristics designed 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 in like manner 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 store s are strategies that can be employed 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 name 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 well as making the most of the perceived intangible benefits associated with a arbitrary 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 more or less product evaluation (or perceived purchase risk) whilst too increasing confidence in pr oduct 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 advantage 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 personality celebrity endorsement Brand personality is a key factor in brand identity and is super 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 that portrays personalities to which they aspi re (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 increased attention, generating greater brand recall and recognition (Quester, Pettigrew Hawkins, 2011 Spry, Pappu Cornwell, 2011).doyen (1999, as cited in Spry, Pappu Cornwell, 2011) further posits that celebrity endorsement can also 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 between 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 determine perceptions of chosen celebrities to ensure they are credible and have attri butes 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. Learning 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 reinforcement for consumer purchase intention (Amor Guilbert, 2009).By trialling, using tester bottles and sample spray cards the product consumers are 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 related 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 sev eral 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 complementary 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 development 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 bear on emotional need or desire for the new perfume product as well as c reating 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 arrive at 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 new product marketers can incorporate this theo ry in order to manipulate the buying intentions and purchase behaviours of consumers and create a successful marketing campaign.