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The luxury fashion marketing strategy

THE LUXURY FASHION MARKETING STRATEGY

The E-marketing strategy purpose is to entice and retain the customer to visit the internet site of the blissful luxury brand. In contrast to traditional marketing which looks for to encourage the client to make a purchase. Which means internet marketing strategy is more customer focused rather then product oriented. We will discuss two main rules of the E-marketing. The six Ps of luxury branding and the ten Cs of luxury fashion E-marketing.

B. The six Ps of luxury branding

In the luxury industry branding and marketing are meticulously linked. Branding is a key process of marketing which can only take place if there are products and services. On the other hand the marketing can gain from branding because a strong brand image augment the online marketing strategy. To be able to implement a competitve marketing stratregy the blissful luxury brands should consider the following six Ps of luxury branding.

1. The merchandise

A product is "whatever can be offered to market for attention, acquisition, use or consumption that might meet a want or need". These includes physical goods an services. The need can be efficient like the dependence on a handbag to carry personal objects. Or it can come with an abstract dimesion such as the need to transport a handbag with the Louis Vuitton logo to be able to exhibit the position. This second degree of need is fullfilled by, luxury goods given that they carry a solid brand value.

Strategies behing the introduction of luxury goods place a solid focus on branding elements. Therefore Luxury products features include progressive, creative and interesting product designs and presentation, classic and ageless products, high quality materials, meticulous craftmanship, manufacturing precision and immediate design turnover.

2. Pricing

Price is the first hint of the brand's setting to consumers. The blissful luxury individuals are less price hypersensitive and expect luxury goods to be superior priced somewhat than economically costed. The high price enables the customer to evaluate the quality of the product, also known as psychological costing.

3. Host to distribution

The host to circulation is the channels used to make product and services open to the client. Internet is a fresh distribution route and the task for luxury brands is to safeguard the brand to be able to maintain high brand value. Therefore many luxury brands made a decision to create their own site to stay exclusive.

4. Campaign

When it comes to promote something, it's important to establish the right aim for group. Luxury brands have to achieve bringing out the brands essence in each communication, that the look should be communicated. Adequate promotional mediums for luxury brands are advertising, direct marketing, personal advertising, public relations and sponsorship.

5. People

People accredit for everyone that affect or is influenced by the brand. It include all the employees staff involved in the daily business. Folks are the main element of a company because the experience they may have with the brand influence the way they transmitt the brand to customers. Luxury brands are particulary paying attention to this brand culture, by training their staff to promote the brand. The task when it comes to the internet is that their are no physical people (such as sales person) to carry out the brands value. We will discuss later how to load this space.

One strategy used by luxury brands is using Ambassadors. They are usually stars providing the brand with life and promoting the brand through giving it a face. For instance Kate Moss was for a while ambassador of Dior. Although danger is that those celebrities undertaking the image of the brand can affect the value brand in a negative way being that they are the guts of attention of the marketing. This took place to Dior with John Galliano who was accuses of "anti-semitism", though LVMH were able to successfuly overcome it. "In the field of communication you'd better not make the same mistake twice"

6. Placement

Positioning is "planning for a product to occupy a definite, distinctive and attractive put in place the heads of target customers". Luxury brands have specific market and the product has already been desireble to the clients. Unfortunatly the merchandise luxury brands are providing on the internet tend to be on sale. This can lead to degrade the merchandise image and value.

Though luxury brands have a hugh potential to be successful in the internet. When offering a site they get significant return on investment in terms of more spending since what luxury consumers value most in the internet is shopping at home and having wide selection of items available online.

A. The ten Cs of Luxury Fashion E-Marketing

As pointed out in the online versus off range part, the blissful luxury customer is searching for a high quality shopping experience. Many companies remain missing the E-touch to there website. In a recently available survey about the blissful luxury consumer behavior conducted by Unity Marketing 35% of luxury shoppers are discouraged because of problems in results and exchange of goods, 21% are afraid to make costly purchase due to security reasons. Pursuing some main points how to beat this problems.

1. Customer value

Customer value is the additional benefit a customer receives from a firm to ease the shopping experience. Supply the customer with a large product range and equip the site with the sufficient tools to see the merchandise, will delight the online customers shopping experience.

Many luxury brands offer thin product range in the e-store or end of season products. Unfortunatly this lower the brands image to the client. The luxury goods individuals are more thinking about high quality rather then good deal.

2. Convenience

Convenience is the primary good thing about e-retail. Customers can buy what they want when they need on a website available twenty four hours.

To fullfil the shopping trip for consumers, luxury brands need to associate the off collection retail offers with the e-retail strategy. Luxury customers are multi-channel customers that might visit the site and the store before purchasing. Which means experience will include easy website usability and centralize the after sales service to include dividends, refund and exchange of goods in physical stores even if the purchase was made online.

3. Cost

The cost of buying a product doesn't only are the price of the merchandise. What's also perceived as a cost to the clients is the time they spend travelling to and from the store, time they put in in the shop etc. E-shoping is conserving the customer on this occasion. This is actually the most competitive advantage of the internet, rendering it even more important for companies to be there on the net.

4. Communication

Communication targets exchanges with the customer. It allows company to gather customers feedback about the brand, to comprehend better their needs and goals. On the web this is achievable through email messages and customer bloggs.

To enhance marketing communications with the online customer, luxury brands can use internet toole like exclusive online golf clubs, viral marketing, email information and other techniques to keep in touch with the client and fill the lack of human relationship.

5. Computing

Computer and logistic systems are essential for e-retailers. In order to deliver the right product, at the right time in the right location, computing systems must be effective. Other issues such as online payment, security and taxation calculation can only be accomplish through competent computing coordination. This can be done through creating e-networks between suppliers, manufacturers and vendors.

Luxury brands can also lengthen computing systems to permit customers to keep track of their order or mapping for store locations.

6. Customer franchise

Customer franchise includes the relationship a customer is producing with the brand. When shopping online or offline the client develope a relation of trust and self-confidence. To expand the client franchise it is important a brand sustains the web experience to develop brand collateral.

7. Customer support

Customer care performs a significant role about the shopping connection with the customer. Customer care is carryied on to every part of customer's contact with a brand. Luxury brands have always been criticized about the customer support whether online or off-line. This is because the brands were centering more on revenue.

The main issue with internet is the lack of human interaction which makes it more challenging to provide a good customer support. Still it can be make up through fast and reliable delivery of goods, quick go back, refund and exchange of goods. Finally as reviewed earlyier, the inter-relation with after deal service off-line and online.

This can be increased through close communication with the client. Those programms also permit the retailer to build up a customer data source and gather reviews from consumers.

8. Community

The online consumer are divided in several communities with shared passions. Through bloggs customers can share their positive or negative activities with brands. The blissful luxury brand Louis Vuitton created a site as a platform for its customer to discuss general issues about the brand. This program is an efficient tool luxury brands can use to construct strong romance with customers.

9. Content

The content of a luxury brands website reflects the brands image. Therefore it is very important that luxury brands translate the shop athsmosphere to the net through hi-def videos images and sound. Nice colors and all the additional features talked about in customer support, to delight the clients shopping experience.

10. Customization

There is an increasing demand for customization of products on the internet. This is actually the outcomes of individualization, customers desire to be recognized and given personal care. An example is Roberto cavalli that uses customization as a tool for providing an improved web experience. The internet site offers customizable wallpaper and multiple background music options. But nonetheless in the blissful luxury brand sector there is a insufficient customization, since luxury brand only offer this opportunity to "select customers".

If following ten Cs, luxury brand are able to provide their customers with high quality shopping experience and meet the most crucial features for luxury consumers such as flexible return policy, in depth product pictures and comprehensive product information and specification.

C. Best practice and biggest failure of luxury E-retailing

We discussed several issues luxury brands are facing when going online and we evocated proper possibilities in order to be successful. Despite the fact that many luxury brands are still struggeling going online, a few were able to successfuly take benefit of the cyber world. Included in this Net-aPorter.

Net-a-porter is a luxury clothing and accessories merchant that carries a few of the biggest brands in fashion such as Alexander McQueen, Stella McCartney as well as others. It sells designer clothing, lingerie, bags and shoes. It was created by Natalie Massenet in June 2010. Four years later the business had been profitable.

What makes the shopping experience so delightfull is that Net-a-Porter is adressing two key questions:

* How will the item look on a person?

* What else can I wear this item with?

Furthermore Net-a-Porter is displaying its items in two different views. First you will see just the merchandise, second you can view the product worn by way of a model. This allow customer to envision how they will look when they are putting on the item, gives them a strong stimulus to buy.

Additionaly Net-a-Porter carried out an upselling strategywhich they achieve through like the name of the other items the model is putting on in the merchandise information. And suggest what the merchandise can be worn with labeled "USE IT with".

This company is an excellent example for how to displace having less human being interfaces through up to date technology, enabling the clients to enjoy browsing on the site and providing them with an incentive to buy.

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