Welcome!
Luxury Brand Development
Dr. Satyendra Singh
Professor, Marketing and International Business
University of Winnipeg, CANADA
https://sites.google.com/view/drsatsingh
s.singh@uwinnipeg.ca
Luxury brand characteristics
Dream a dream with value — Create exclusive club
Symbolic 🡪 Functional and dream part
Exchange 🡪 Last long, can outlive you
Emotional 🡪 You adore it, source of joy
Mythical 🡪 There is something about it
Ethical 🡪 Links to social responsibility
Identity 🡪 Convey something about you
2
Brand identity (style)
3
Value and symbolic value addition. functional and dream parts
4
Brand building – the 2 approaches to map your brand
5
Creator
Clients
Epic of the product
STORY TELLING
Experience at store, POS, corner
European Approach to luxury
HISTORY
American Approach to luxury
Luxury Dream Equilibrium
6
Dream Equation = .58 * awareness - .59 purchase – 8.6
Source: Dubois B & Paternault C 1995. Understanding the world of international luxury brands. Journal of Advertising Research, 35(4), 69−76.
Low dream value High dream value
Brand awareness %
Purchasers %
100%
0%
Brand content creation
To sustain brand image
To be the leader, set trends
↑ functional and emotional value
How do we do it
Educate customers 🡪 History and heritage
Interviews, fashion shows, manufacturing process
Link brand to community
Show social responsibility
Gucci (manufctiring process), Chloé (fashion show)
Mercedes, Rolex
7
Brand Identity Prism
8
9
10
Logos create brand identity, message and differentiation
11
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Source: https://www.motortopia.com/the-legacy-of-rudolf-diesel-a-journey-through-diesel-engine-evolution
Questions?�s.singh@uwinnipeg.ca