Tips & Tactics for Marketing a luxury Fashion

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Tips Tactics for Marketing a luxury Fashion
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Ultra Premium pricing with very few discounts 

• A mark of a luxury brand is its ultra premium
  pricing  and its matching quality.
• But another mark is that you will hardly every
  see the word Discount and Luxury brand
  together in one place.
• It happens rarely, and that too either for causes
  of charity or during the festive seasons.

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Marketing communications 

• To maintain ultra premium prices, the quality and
  the promise of quality  needs  to be exemplary.
• For the marketing of a luxury brand, the
  communications need to be spot on. You need to
  make people understand WHY the brand is a luxury
  product.

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Selective distribution 

• There are very very few distributors or brands
  like  channel  and Hermes.
• The reason is that these brands are very
  selective with regards to their distribution
  channel.
• The distributor needs to know that ROI will take
  its time because the investment in building a
  beautiful store is huge and this store will bring
  in the luxury customers over a period of time.

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Define competition broadly

• A luxury brand has broad competition and it might
  not be from their own category itself.
• Example Instead of buying a Rolex, the customer
  can decide on buying the latest IPhone for
  themselves.
• So this is an indirect competition which Rolex
  did not consider.
• A direct competition  will be customers buying
  the Iwatch instead of buying Rolex.

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Brand architecture must be well defined

• The brands which comes in mind for its
  fantastic brand architecture is volkswagen, which
  also includes the worlds top 10 luxury
  automobile  Porsche.
• Besides Porcsche, Volkswagen also has ultra
  premium cars like Bentley  as well as luxury
  sports car like Lamborghini.
• All the brands stand separate from each other and
  none of them influence each other.

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Using intangible elements 

• There are many intangible elements to building a
  luxury Fashion brand even though you are selling
  products.
• One of the most intangible element is the store
  layout and the way customers walk in, view the
  product and make their choices.

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Providing an experience 

• Continuing with the several example of using
  intangible elements, another important factor is
  providing an element.
• The luxury fashion will always provide a comfort
  feel to the users.
• The correct value of the price can be get from
  these luxury fashion brands.

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Optimizing the process 

• One of the trademarks of business is that keeps
  changing and evolving at all times.
• Naturally, with a change in technology  and a
  change in customers mindset, you have to change
  the process and keep updating it. 
• Luxury Fashion brands are at the helm of starting
  new processes and bringing in new technology.

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Luxury Fashion
Luxury Fashion
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