MARKETING

Launching of Chaurmet Fine Jewelry in Brazil

Report on Launch of Luxury Brands

Introduction

The main aim in marketing and branding of a luxury product is to create value from the product rather than cost reduction. The added value is vital for luxury brandingand being creative is just not enough to sustain orderly increase in price. A luxury brand in a fashion industry keeps selling at the same price if the designer creates a luxury value for the product. In the launch of a fine jewelry line in Brazil, many techniques that are important for effective brand management will have to be utilized to stay ahead of competitors.The main ideas and values are created mainly by the production people in the workshop from where a lot of ideas are originate. Further, new ideas also generate from customers who is not by getting new ideas from the customers, but understanding their dreams (Arora, 2013). The top management must lead the value creation process to effectively launch this fine jewelry in Brazil.

Discussion

The important concepts in building a luxury brand successfully requires unique positioning and niche target to cater to mass markets. The competition is immense in the any market industry and careful strategic planning is very important. The competition can create strong brands by increasing the revenue base, increase brand equity and sustenance of their customers(Arora, 2013). However, building the brand is very challenging for the industry. Therefore, the establishing of Chaurmet as a luxury brand globally by creating an appeal for their products and differentiating themselves from others is a task which needs to be carefully thought and established. In theory it is suggested that building an effective brand starts from selecting a lucrative segment that can be targeted by tempting positioning. The built up of a luxury brand is mostly is mainly to offer a great value to a selective segment of the market. Therefore, finding the right customers for their product is essential for Chaurmet. The focus should be being exclusive in the market(Arora, 2013).For instance, Giorgio Armani is a brand which is known for its expensive clothing line for men and recently they are moving towards launching of Armani jeans for the U.S which mainly targets youngsters who are price sensitive in this market.Likewise, Chaurmet jewelry can look at their markets and create demand by selling other products like watches and jewelry. Further, research has shown the consumers are more motivated to pursue products that provide emotional benefits. This has resulted in a growth of luxury industry in the recent years (Daye, 2012). In 2006, a research report on luxury products showed that there was a great surge in the UK luxury market. The trend has been that the consumers of the new luxury product are moving high and the right connection with the emotional levels of the individual will increase the sales for any company. The academic researches based on these products show that the presence of hedonic product should be to fulfill the delight factor of the consumers rather than ...