Brand and Product Management Scenario Analysis Paper: Swarovski Group

Published: 2021-07-06 06:29:37
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Category: Business and Finance

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How is your brand marketed in different countries? Does it use a standardized or customized approach? Currently Swarovski has 2,665 store in 170 countries around the world. The highest amount being in Europe (1,240,) coming in second is their Asia/Pacific stores (830,) and lastly their North&South America stores (595) (SwarovskiGroup2015.) Swarovski have successfully met the needs of their customers worldwide and have marketed correctly. Swarovski uses both a standardize and customized approach. A lot of their products are mass produced, advertised, and sold globally at all of their stores. Their extensive website is a huge aid in this. Simultaneously there are also specific items that are advertised and sold depending on the region. On their website there is a tab where a shopper can select from which country they are shopping. After selecting, the website adjusts to that region. The homepage slightly changes and different products are now highlighted. 2. Assess your brand’s global branding success against the Ten Commandments of Global Branding as provided in Figure 14.5 (Keller).Swarovski perfectly aligns with the 10 commandments of Global Branding. As a brand well-known currently in 170 countries, they are fully aware of the similarities and differences of the different markets in each country. The brand originated in Austria and was completely built from the ground up. Their marketing infrastructure is completely solid. They currently have production locations in Austria, India, Liechtenstein, Thailand, Vietnam, Serbia, and the USA (LuxuryDaily.) A few years ago, Swarovski Group announced their strategy plan to become the global jewelry market leader by year 2020. Along with that they have a separate campaign called “Vision 2020.” Vision 2020 seeks to increase global awareness as a whole. Swarovski’s marketing concepts are relevant across all the markets they enter. Their product are standardized and customized for every country. They are currently looking into expansions into Africa, Latin America, and Eastern Europe.3. How has your brand’s marketing evolved in response to changing social, demographic, and ethical issues?Swarovski Group has a high ethical standard for themselves. Swarovski Crystals are viewed as a eco-friendly version of diamonds. Many people consider the diamond mining process unethical. People love the fact that these stones are “bloodless.” “The New DNA of Swarovski crystal is obtained through conscientiously selected raw materials which contain 0.009 % lead or less, (EluxeMagazine.)” They most definitely take advantage of their ethical stand point when pertaining to marketing. Their ethical standing is very publicly highlighted on their website.Referenceshttp://www.swarovskigroup.com/S/aboutus/2016_FactSheet_EN.pdfhttps://www.luxurydaily.com/swarovski-benchmarks-2020-strategy-with-247-global-accessibility/https://phoenix.vitalsource.com/#/books/9781323108826/cfi/12/10!/4/2/[email protected]:88.8

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