Luxury brands face unique challenges in marketing due to customers' complex motivations for purchasing luxury goods. Luxury marketing strategies must establish a brand image of heritage, craftsmanship, and scarcity while capturing customer emotions. Individualized segmentation is important to appeal to different preferences. While social media has increased popularity, mistakes can damage a brand's reputation, as seen when Dolce & Gabbana's owner insulted China on Instagram, sparking a boycott. Marketers must strategize thoroughly and maintain a brand's luxurious image across all platforms and countries.
Luxury brands face unique challenges in marketing due to customers' complex motivations for purchasing luxury goods. Luxury marketing strategies must establish a brand image of heritage, craftsmanship, and scarcity while capturing customer emotions. Individualized segmentation is important to appeal to different preferences. While social media has increased popularity, mistakes can damage a brand's reputation, as seen when Dolce & Gabbana's owner insulted China on Instagram, sparking a boycott. Marketers must strategize thoroughly and maintain a brand's luxurious image across all platforms and countries.
Luxury brands face unique challenges in marketing due to customers' complex motivations for purchasing luxury goods. Luxury marketing strategies must establish a brand image of heritage, craftsmanship, and scarcity while capturing customer emotions. Individualized segmentation is important to appeal to different preferences. While social media has increased popularity, mistakes can damage a brand's reputation, as seen when Dolce & Gabbana's owner insulted China on Instagram, sparking a boycott. Marketers must strategize thoroughly and maintain a brand's luxurious image across all platforms and countries.
Luxury brands face unique challenges in marketing due to customers' complex motivations for purchasing luxury goods. Luxury marketing strategies must establish a brand image of heritage, craftsmanship, and scarcity while capturing customer emotions. Individualized segmentation is important to appeal to different preferences. While social media has increased popularity, mistakes can damage a brand's reputation, as seen when Dolce & Gabbana's owner insulted China on Instagram, sparking a boycott. Marketers must strategize thoroughly and maintain a brand's luxurious image across all platforms and countries.
Review and Analysis of Successful or Unsuccessful Examples of Marketing Strategies in
Luxury Segment
"What is luxury?". When you asked this question to the people, you will definitely get lots of different answers. According to Oxford dictionary, the term luxury is "A state of great comfort or elegance, especially when involving great expense". Luxury items are all things that are not necessary to life and therefore include many desirable things within a society or culture. Examples of luxury products include clothing, accessories, bags and services. People buy luxury items mostly because they want to show off their wealth and impress others. It is made for the rich and fashionable people that can pay any cost for their favourite premium brands. However, there are also people who purchase these items because of its quality and aesthetics regardless of their income or socioeconomic class. Nowadays, luxury brands are famous to the public because of their online activities and social media engagement. The demand for luxury brands today is higher compared to the previous years which mean that luxury brand marketing should involve a clear brand identity and emphasize product integrity. Marketing a luxury brand is different from the traditional business marketing because customers have different motives to buy these products. For marketers, marketing luxury brands is challenging as they need to establish a product image aligned to the luxurious brand that will capture the customers.
A luxury brand marketing strategy must establish the highest brand value by grasping multiple things like heritage, craftsmanship, scarcity, prestigious clients and more. The advertising must capture the emotions of potential customers and satisfy these emotions. The luxury brand image should be perfectly desirable as it gives buyers a sense of accomplishment, self-esteem and pleasurable experience. Individual customer's beliefs are more specific and marketing should involve some form of market segmentation to allow each item to please everyone and align with individual customer's preference. Nowadays, luxury brands have been widely popular due to technology and social media. Many brands interact with their customers through online marketing strategies by using social networking sites such as Facebook, Instagram, Youtube, Twitter and the like to promote their brand but also maintaining their luxurious image.
Although luxury brands are fast adapting to the media world, marketing mistakes are inevitable. One example of this is the case of Dolce and Gabbanna (D&G). While this brand remains one of the most respected luxury fashion brands, there is an instance when their owner behaved poorly by calling several style icons, such as Selena Gomez and Kate Moss 'really ugly" on Instagram. Another issue is when a screenshot of Instagram private message between its owner and Prada revealed how Stefano Gabbana criticized and insulted China and called it "China Ignorant Dirty Smelling Mafia". This behaviour caused backlash which resulted to a campaign to boycott Dolce and Gabbanna on social media. Although the brand through its owner sincerely apologized for his actions, it produced a strong impact on its brand's reputation and financial performance. This example of situation involving a luxury brand just show how crucial it is to market luxury brands and maintain its image. Marketers including the owners and brand ambassadors must always behave right to not stain the image of the brand. They should also strategize and conduct in depth research to position their product in every country or every customer. References: https://www.researchgate.net/publication/271936261_An_empirical_study_of_luxury_brand_marketin g_effectiveness_and_its_impact_on_consumer_engagement_on_Facebook https://www.ventureharbour.com/luxury-brand-digital-marketing/ https://gettinggrowth.com/luxury-brands-marketing-fails/ https://www.wordstream.com/blog/ws/2017/02/15/luxury-marketing-strategies
