Emotional Drivers Towards Swarovski's Brand 'Literature Review' chapter
- Length: 38 pages
- Sources: 45
- Subject: Business - Advertising
- Type: 'Literature Review' chapter
- Paper: #47209821
Excerpt from 'Literature Review' chapter :
The luxury brands in this age of fierce and intense competition perceive and believe that the conventional methods of advertising and promotion are only an itinerary that creates the knowledge and awareness amongst the consumers. Nevertheless, targeted marketing (that represents the emotional driving force) is becoming the primary and fundamental aspect of concern that many of the brands are focusing in order to create emotional engagement with the consumers that can provide them lasting relationships and loyalty from the consumers (Buckingham 2008).
However, looking at the perspective of the brand of Swarovski, it has been monitored that they have created a consumer-based pyramid in order to keep closely connected to the consumers' emotions and feelings. In this regard, they ensure high quality with proper detailing of the product during the manufacturing process and make the product a perfect one that can easily catch the attention of the consumers. They very well keep the emotions of the consumers in mind while designing and manufacturing the crystal products, which result in catering to large proportions of people belonging to different financial background (Kotler & Pfoertsch 2006).
Empirical studies have demonstrated that the demand for jewelry is escalating at an unprecedented rate in the market of USA. This is one of the biggest opportunities for Swarovski to enter and capture huge shares of this market. This is particularly because this brand is consumer-based and the emotions and demands of the consumers are their top most priority. Although the cheaper competitors and substitute companies are one of the biggest threats to them, yet their strong brand name and status is one of their leading strengths that they can use to cater the changing emotions of the particular market (Kotler & Pfoertsch 2006).
In response to the discovered opportunity, the management of Swarovski has extended its product line and enlarged their attention towards the fashion segment that is in growing demand. Since the emotional connection of the consumers plays a significant role, therefore, Swarovski paid special attention towards the transparency of the strategies to implement for the fashion segment products (Nair 2002).
They designed and constructed a set of principles regarding the training of the store managers and field leadership teams. Specialized group of people were also involved in this procedure of training that facilitated Swarovski in crafting the learning map and model based on the vision, strategies and customers' experience. This coaching and training model was essential as the emotional attachment of the clients must not get hurt in any way (Nair 2002).
The implementation of the new strategies initiated with the employees at the managerial level on annual basis, which was later applied to the forefront employees as the sales team was the key responsible characteristic that created the brand experience to the customers in stores. Accountability of the results and overall depiction of the brand was an additional measure that inspired and motivated the employees to produce effective and productive outputs. The new strategies and approach made the employees focus specifically on the client experiences and engagement regarding the brand (Nair 2002).
Nevertheless, to strengthen the brand name and image, coaching model also included a component of eLearning as a substitute of fashion magazine that resulted in increased connection from the staff members. Additionally, this module also boosted the confidence for selling the brand amongst employees (Nair 2002).
The eLearning has resulted in amplified confidence amongst the employees of Swarovski towards the technology, which has become a key point of strength for the brand and gave them a competitive edge over others present in the retail marketplace. The shifted focus towards new strategies (that is education and training module) has made Swarovski witness higher level of positive attitude of employees with enhanced skills of transmitting their message in the form of behaviors to the customers. Furthermore, by educating the employees, the brand has transformed its image and status by having retained employees that act as brand ambassadors for the consumers (Becker & Taylor 1995).
Education and awareness has been one of the substantial components that Swarovski has always considered with severity and seriousness and this has been verified through numerous studies and researches. According to the company's aims and objectives, they focus on creating powerful awareness about the fashion jewelry through different campaigns that can educate the entire market of the nation of Asian countries (KPMG 2008).
Even though the consumers of Asian market does not represent affluent and prosperous social status, yet nowadays the spending decisions of their disposable income has shifted towards buying products that can make them experience the luxury lifestyle at the same time where the products are reasonable and accessible to them. The spread of knowledge and understanding within the marketplace became a corner stone towards the enlargement of the brand name and reputation (KPMG 2008).
The studies have clearly indicated that initially when the brand was launched in the emerging Asian markets like China, the customers did not have any idea and opinion about the brand and its products. However, with the passage of time, Swarovski provided its consumers with high-quality and reliable luxury products' experience that was admired and valued by the consumers of all age groups and genders. Consequently, the physical experience with the brand led towards the emotional attachment, engagement and recommendation from the consumers, which created high level of customers' loyalty towards the brand (KPMG 2008).
Studies have also exposed the fact that teenagers are the most fashionable group of people that opt for jewelry in the today's epoch. Furthermore, this is the target audience that likes to keep them up-to-date and stylish with the most modern styles and trends, and express themselves through different jewelries. In this vein, where the shift has come to vision within the trendy and stylish jewelry collections, the luxury crystal brand Swarovski has broadened its horizons with the expansion and launch their new product line of jewelry (Baker 2012).
This innovative segment particularly targets the youngsters and teens that can present them with jewelry reflecting the originality, glamour, uniqueness and versatility. As the time changes, the needs and lifestyles of the consumers also encounter various changes and the new modification is towards the beautification as a symbol of style and status whether it is their homes or themselves (Baker 2012).
The brand seek to reposition their brand and focus on concentrating on the next generation target audiences in order to create a vast fans followers to the Swarovski's fashion collection. However, keeping in mind the aims and objectives, the emotions and sentiments of this age group also needs to be looked upon, for which the brand is well aware of the fact that they do not tend to make high spending decisions on accessories and jewelries (Baker 2012).
In view of this aspect, the brand has offered an affordable price for cut-crystal rings, earrings, necklaces, bracelets and bangles, especially for the price-conscious consumers, as the cost is considerably much lower in comparison to the core Swarovski brand range. This undoubtedly elucidates that Swarovski has not restricted itself towards a certain age group and aims to cater as may consumers as possible, because of which they carefully watches the changing emotions of the people of all age group and has come up with a low ranged jewelry for the target audience (Baker 2012).
Numerous sources of information has exposed the fact that the financial downturn on a global basis has made little or no impact on to the spending decisions of luxury market and consumers are buying the luxury products at the same swiftness, due to their augmented self-confidence on the luxury brands like that of Swarovski. The self-confidence of the consumers is the consequence of high awareness of different products marketed by Swarovski, which had made the consumers develop their own styles. Records have also highlighted that Swarovski had faced problems immediately after the economic crisis but due to their flexible pricing to their various products, minute effects have been witnessed by them on their sales volume (Becker, Langes-Swarovski & Le Gallais 2005).
According to some schools of thoughts the high emotional engagement of the consumers with the brand of Swarovski is because of the delicate, stylish and elegant environment provided by the brand that converts their purchasing into a complete and comprehensive experience that enables the consumers to submerge and immerse themselves in the world of crystal (Becker, Langes-Swarovski & Le Gallais 2005).
Swarovski has developed a deep understanding about the reality that emotional meta-communication is the key foundation stone that creates the connections and engagements of the consumers with the brands as it ensures the delivery and distribution of information. This means that the way in which brands communicate with the consumers is of prime concern for them that begets to the maturity of the relationship, however the content of information pertaining to the brand and its products that is provided to them is of little importance (Bevolo, Gofman & Moskowitz…