Essay About Brand Tourist And Different Brands

How “brand Tourist” Can Grow Sales
How “brand Tourist” Can Grow Sales
How “Brand Tourist” can grow salesBy Silvia Bellezza and Anat KeinanIssue: September 2014 p.28Content Restructuring        Nowadays, different brands are striving so hard to extend their brand coverage to different ends. Especially those Luxury Brands like Prada, would opt to a downward brand extensions, though received a mixed review on their strategy from their customers. The rationale behind of this strategy is that the company aim to achieve a sales growth through brand extension. However, the author suggested it was the non-core customers should the firm place their emphasis on as they would lower the effect of being felt tarnished. Another way would be through different channels and packaging, on one hand the brand can diversify while maintaining their prestigious brand image, and on the other the core customers will not lose the feeling of exclusiveness. Insights & Application        To most of the luxurious brands such as Gucci, Prada or Louis Vuitton, downward brand extensions is a debatable issue towards them as more and more brands emerged in the market, and given their long history in their industry, brand rejuvenation and extensions is inevitable. For example like Prada, they launched a sub-brand called Miu Miu, targeting their young generations who sought after luxurious product. Admittedly, this is a successful marketing strategy of Prada, expanding customer base while keeping core brand image by launching a sub-brand to capture a new bunch of people. Also for G2000, they also launched AT-20, which is another type of brand extensions. It was not until recent years they set-up AT-20 section inside G2000 stores. AT-20 is targeting suits and related clothing in a more fashionable way and to attract young generation.