When managing a luxury fashion brand, you have to give up a significant portion of marketing rules that apply to common brands and high-end brands, because they can not only increase sales, but even harm luxury fashion brands.
At the end of the year, traders must think about year-end sales, what needs to be discounted, what to sell is what luxury fashion brands need to be particularly careful of. These traditional marketing methods simply don’t apply to highly competitive industries.
Strictly speaking, when managing a luxury fashion brand, it is necessary to give up a significant number of marketing rules applicable to ordinary brands and high-end brands, which will suit the brand. luxury fashion brand.
In traditional marketing, for example, will the price increase increase so will your luxury fashion brand try to participate in the discount? No, Gucci will follow the motto “Don’t do not die”.
Here are the marketing secrets of major fashion brands worldwide.
1, I AM MYSELF, A FLOWER WITH A VARIETY OF COLORS
In traditional fashion marketing you will find that the core issues of each brand strategy are brand positioning that offers unique marketing and strong competitive advantage. It can be seen that the classic brands always try to identify themselves based on the market environment, the major competitors and the needs of the customer base they are trying to win.
Luxury fashion brands such as Gucci, Prada, Chanel, Dior, etc. have their own uniqueness, for brands that luxury is “everything” and that is the most important. It does not need to be compared with competitors. Each luxury brand expresses its taste, creative identity and enthusiasm.
Luxury fashion brand declares that “I am myself a flower with a variety of colors”. They prefer to be themselves rather than always looking for a position compared to their competitors. In the luxury world, the identity of a brand gives its brand its uniqueness, persistence and legality, which reinforces the positive impression that the brand exists forever.
Chanel is a brand that has a distinct identity rather than positioning, its identity is indivisible and cannot be different, it is its own. Never compare with others is a motto of luxury!
2, TAKE THE SEPARATE PATH, LET OTHERS GO TO WIN
Traditional marketing methods want to compete with customers from other brands: sales growth is the main means to measure marketing results and managers’ performance. This has prompted the company to continuously introduce new products that can enhance market penetration and capture market opportunities.
Even to expand brand coverage means that the number of customers attracted by the brand, the brand cannot be made too special or advanced.
For luxury goods, expanding the brand’s audience is equivalent to reducing its value, because it will not only make the brand lose some unique features, but it will also erode. the potential of elite groups and the only people in the dream to fulfill their dreams.
On the other hand, if not, why should GUCCI have a large number of cheap imported cloth products filled with logos, not no zuo no die? Its brand growth is driven into the new national market, instead of expanding its customer base! If your target customer is a high-end crowd of 20% then the remaining 80% is for others to take over.
3, RISING PRICES, CONSTANTLY INCREASING PRICES
In the standard market model, when fashion product prices fall, demand will increase, but in the luxury world, this relationship is the opposite! For luxury goods, the price is only a level of technical detail, luxury goods must rely on price increases to survive in this area! To survive, you must be on other people, not reasonable!
By raising prices, you may lose some secondary customers, but for customers who have not looked at your products before, your charms will greatly increase!
4, STAY AWAY FROM FAMOUS STARS
In traditional marketing, TV or theater stars often appear in fashion product advertisements. But using stars to promote luxury is extremely dangerous. Like reporters and paparazzi will bring trouble to the stars, the stars will also bring trouble to luxury fashion brands.
Finding the help of a star is equivalent to showing that the brand needs to rely on the star’s reputation to survive and acknowledge that it is not prestigious. For luxury fashion brands, this is a serious strategic mistake.
5, SUBURBS ARE THE PLACE TO PRODUCE PRODUCTS
Reducing the cost of goods is very important in fashion products. To do this, companies often adopt a method of moving factories out, but it should not be used in luxury fashion brand management. Because luxury goods are immersed in a specific cultural background or national identity, retaining this geographic origin can increase the value that people recognize.
The practice of not moving the factory involves not only production, but also creativity. When the product factory is no longer in the neighborhood, your creativity will drastically decrease, because you cannot touch the raw materials, you cannot see the processing and you cannot upgrade it. luxury.
After the equipment for making ready-made goods was shipped abroad, the high-class French fashion was gradually reduced.
The secret tells you that in July 2011, Prada moved some production activities to another country and Burberry made a similar move many years ago, but Burberry frankly: it’s not a brand. luxury brand that is a fashion retailer.
Of course, for companies that want to penetrate new markets, sometimes there are specific reasons for them to move their factories out, such as a brand that wants to infiltrate a senior group of people in one. nation.
6, SAY NO TO PROMOTION
This is absolutely not presumptuous, luxury fashion marketing strategy and general sales strategy is supposed to fight it! In luxury fashion brands, promotions cannot be too strong as a basic principle for handling customer relations! Remember, that is the basic principle.
You can recommend products to customers and tell stories about products, but you should never use promotion to attract them to buy! For luxury goods, the best way to get products close to the rich is to make them automatically attracted to the product. Fast-moving brands want to hunt customers, but luxury goods are the opposite: customers want to be attracted to products.
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