Marketing Strategies for Luxury Brands
New products are continuously launched into the luxury perfume market each year. DKNY’s recent addition to the perfume market is DKNY Pure. As a competitor intending to introduce a similar product into the luxury fashion brand perfume market, consumer behaviour has important implications for the design of a successful marketing strategy. This paper will outline which key factors marketers should attempt to influence in the design of a marketing strategy to introduce a new luxury brand perfume to the market. Through the use of product positioning, identifying buying groups and the target market, extensive advertising and operant conditioning marketers can manipulate the consumer decision-making process together with internal and external influences leading to consumer purchase behaviour. From a marketing perspective luxury fashion brands are defined in by features such 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 extended decision-making with an extensive search of internal and external information 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 new product in the luxury perfume market as it can 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 can be used as external stimuli in order to trigger the first stage of the consumer decision making process; problem or need recognition. Advertising can influence consumer behaviour by affecting the consumer’s desired state or their existing state
Influencing the consumer decision-making process
In order to influence the consumer decision-making process advertising can be used as external stimuli in order to trigger the first stage of the consumer decision making process; problem or need recognition. Advertising can influence consumer behaviour by affecting the consumer’s desired state or their existing state