Christian Dior's existing and recommended luxury brand strategies Assignment

Christian Dior's existing and recommended luxury brand strategies - Assignment Example ................................................................. 4 2.1 Importance of Conducting Brand Audit ............................................... 4 2.2 Interrelationship between Brand Positioning, Brand Association, Brand Identity, Brand Image, and Core Brand Value in Creating Brand Equity .......................................................................................... 6 2.3 Significance of Points-of-Differences and Points-of-Parity in Brand Positioning .................................................................................. 11 2.4 Importance of Brand Communication Campaign ................................. 11 2.5 Significance of Marketing Mix in the Use of Integrated Marketing Communication .................................................................... 12 3. Research Methodology ............................................................................................ 13 4. Analysis of Current Luxury Brand Audit and Its Strategies ............. ...................... 14 5. Recommended Luxury Brand Strategies ............................................................... 16 References ......................................................................................................................... 17 – 21 Appendix I – Dior’s Fashion Designs ................................................................................ ... fashion designer, Christian Dior sells a wide-range of fashion clothing for men and women of all ages, footwear, accessories, leather goods, fragrance, beauty products like make-up and skin care products, jewelleries, and timepieces (Christian Dior, 2013a). Today, Dior is competing with other luxury brands like Calvin Klein, Chanel, Givenchy, Gucci, Prada, Ralph Lauren, Versace, and Yves Saint Laurent (YSL) among others (Kapferer, 2008, p. 97). To ensure that the company is able to make its products readily available to its target customers, Dior is currently operating a total of 235 boutiques all over the world (Hoovers, 2013). On top of the number of boutiques this company is currently managing, Dior allows other retailers to sell its wide-range of men, women, and baby clothing, lingerie, perfumes, and other accessories under a limited number of business license (Lynne, 2013). As a luxury brand, Dior is one of the most successful in the world market. With total sales of â‚ ¬1.24 billion, Christian Dior Couture recently announced that the brand managed to experience a 24% increase in its total sales as of 2012 (Diderich, 2013; Fenner, 2013; Karmali, 2013; Spedding, 2013). 1.1 Significance of the Project The global economic and financial crisis which started back in 2007 has a significant impact over the economic instability which most developed and developing countries are currently experiencing (United Nations, 2011). Despite the financial and economic difficulty, it is surprising to know that the luxury brand such as in the case of Christian Dior has recently experienced a sharp growth in its annual sales (Diderich, 2013; Fenner, 2013; Karmali, 2013; Spedding, 2013). For this reason, the luxury brand Christian Dior was purposely chosen as the subject of this