Faye Hudson’s Post

How can you guarantee brand control in a dynamic market? This question is particularly relevant for the luxury fragrance industry where, for many years, it’s been the norm for brands to decide where their most lucrative markets lay. Today, however, modern consumers are demanding a seat at the table. Communication is no longer a rigid, one-way-street from brand to consumer, and brands now find themselves having to respond to change instead of driving it. But this is not a bad thing. Brands that give consumers what they want – as well as how, where and when they want it – are set to thrive in 2024 and beyond. As disposable incomes rise and consumer awareness expands, new, emerging and alternate markets are becoming significant contributors to the fragrance industry's growth. And while the concern about brand control remains, the good news is, the democratisation of luxury brands doesn’t have to mean a loss of reputation, image or prestige. Done correctly, the exposure of your brand to alternate markets is one of the safest steps you can take to future-proof your products and grow your market share. #Marketing #Perfume #Branding #GenZ #SocialMedia #BrandEquity

In a dynamic market, maintaining brand control involves embracing consumer input and adapting to evolving preferences. Contrary to the historical dominance of luxury brands shaping market decisions, today's consumers seek active involvement. They demand responsiveness, shifting the paradigm from a one-way street to a dynamic, interactive relationship. This change not only fosters brand loyalty but also extends market reach, ensuring continued relevance and growth in the ever-changing business landscape.

Want your brand to stand the test of time? Then you need to understand its history. Mark Ritson shares how brands like John Lewis are embracing the power of heritage in his article for Marketing Week. Check it out. ⬇️ #brandawareness #brandheritage

Luxury brand pricing strategies are among my favorite themes! Price is a highly tangible key indicator of brand positioning, and marketers have long wrestled with determining consumers' "willingness to pay" — the maximum price a customer is willing to spend to acquire a product or service. For luxury products, effective pricing strategies play a crucial role, with the Brand Premium Strategy and the Value-Based Strategy standing out as the most effective in my view. Opting for a Brand Premium Pricing Strategy presents a genuine challenge, but it proves to be the most resilient in the face of changing business environments. It involves establishing a robust foundation through a perfectly blended mix of distinctive and inspirational luxury lifestyles, a cohesive and visually appealing brand identity, exceptional experiential customer service, high-quality multilayered products, a strong sense of exceptionality, personification, and single-minded, relevant, and appealing communication. The goal is to cultivate a feeling of belonging to an elite, unique "club." For consumers to remain loyal and advocate for the brand, it's essential for brands to be category leaders, particularly in emotional aspects. Adopting a brand-centered approach for luxury companies becomes crucial. This entails placing the brand's purpose and promises at the core of all company activities, including corporate strategy, internal communications, people culture, processes and systems, product and service offerings, external communication, overall experience, and consumers' perceptions. Every individual within the organization should be able to easily articulate the brand purpose and understand how their contributions bring it to life. Such an approach empowers companies to command one of the highest prices in the category and maintains consumers' commitment to the willingness to pay that premium. #brand #luxury #brandstrategy #brandsuccess #brandgrowth #pricing

In chasing the new, we can forget the power of heritage. This was such a great read from the ever inspiring Mark Ritson. There are two really key things I found in this - 🏃♀️ We're all about innovation, pace and forward thinking, it's how brands can continuously commercially grow, but in that we do a disservice to the equity brand has built in the past. ➿ Brand experience spans beyond what marketing control, whilst we scrutinise KPIs of the latest campaign we often forget the power of people to represent the brand. Pause for marketer comments - don't give me more work - but hear me out, the experience of customer service has such a longstanding effect on customers and as stakeholder management masters does it not feel odd that marketing isn't at the heart of this too? Oh there are 3 takeaways, should I ever need a pram for a difficult sleeping child, I'm heading to John Lewis & Partners. #marketing #brand https://lnkd.in/ebgB4ztJ

If you want to build your brand, have a look at this- https://lnkd.in/dx6hwYmx This is the greatest brand personality model of all time and you can’t change my mind. A framework that helps brands connect deeply with their audience. Here’s how it works ↓ Most people don’t realize Jennifer Aaker’s model is inspired by human traits. The Big5, She identified five key dimensions that define a brand's personality: → Sincerity Think of brands that are down-to-earth, genuine, and honest. Patagonia is a great example with its ethical practices and environmental activism. → Excitement These brands are exhilarating and fun. Red Bull, with its daring marketing stunts and extreme sports sponsorships, fits this perfectly. → Competence Reliable and trustworthy brands fall here. All State Insurance, with its authoritative spokesperson Dennis Haysbert, is a prime example. → Sophistication Upper class and cultured brands belong in this category. Chanel, known for its elegance and sophistication in luxury fashion, is a classic example. → Ruggedness These brands are outdoorsy and tough. Brawny paper towels and their iconic "Brawny Man" brand character exemplify this trait. By aligning your brand with one or more of these dimensions, you can develop a distinct brand personality. This helps you resonate with your target audience and stand out from competitors. Consistently expressing this personality across all touchpoints is key to building a strong, recognizable brand identity. I’ve used this model in countless branding projects over this last 3 months. The idea that you can define a brand’s personality and make a lasting impact is super inspiring to me. I know I am late to this branding game, but better late than never! #branding #brandingcourse #socialmedia

Brands are core to marketing. Like there are millions of people, each with a unique identity and personality, so do brands. Even though different brands might target similar market segments, they have unique brand personalities and architectures that differentiate them. In an attempt to understand the brand personality, brand architecture and brand value, I undertook a comparative study of two well known luxury clothing brands - Zara and H&M. Here is a report analyzing the same.

Understanding your brand’s history and heritage is essential to successful brand management. Take your cue from your Latin marketing peers and respect the past in order to build for the future.

Understanding your brand’s history and heritage is essential to successful brand management. Take your cue from your Latin marketing peers and respect the past in order to build for the future.

Is a 100-year heritage required to build a luxury brand? The good news is that the answer is NO. Certainly, a long brand history can aid in: 📚 Storytelling: The brand story can be a powerful narrative that connects with consumers on an emotional level IF 💡 it's perfectly crafted and meaningful. And you know how to deliver your story. 📚 Credibility: A rich history suggests that the brand has stood the test of time, reinforcing its commitment to quality and craftsmanship IF 💡 the quality is consistent, long-lasting, and relevant to the evolving needs of consumers. 🌞 Consumer Trust: The longevity of a brand implies reliability and consistency, fostering trust among consumers who seek assurance in their purchasing decisions IF 💡 consumers' expectations have not been undermined along the brand journey. 🌟 Building Brand Equity: The recognition and reputation earned over the years become a valuable asset that can positively impact brand perception and consumer loyalty IF 💡 the brand does it consistently and relentlessly. Contemporary luxury brands have proven that compelling, emotionally inspirational brand stories that unlock unbounded imagination or enhance consumers' well-being, blended with exceptional product quality and a high-end experience, are a winning recipe for brand premiumization. #brand #brandstrategy #marketing #brandbuilding #brandexperience #branding #brandgrowth #corporate #brandactivation #strategicmarketing #businessstrategy