Introducing Skincare by La Prairie to the Swedish Market
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Seminar paper from the year 2012 in the subject Business economics - Offline Marketing and Online Marketing, grade: 2,0, European Business School London / Regent's College, course: MGT6B2 - Luxury Brand Management and Interantional Events, language: English, abstract: This report analyses the skincare brand La Prairie based on theoretical concepts around luxury brand management. It also features a brief analysis of Sweden's potential as a market for luxury goods and proposes a launch strategy for the brand's skincare products in this market.As it is practically impossible to be the only suppli...
Seminar paper from the year 2012 in the subject Business economics - Offline Marketing and Online Marketing, grade: 2,0, European Business School London / Regent's College, course: MGT6B2 - Luxury Brand Management and Interantional Events, language: English, abstract: This report analyses the skincare brand La Prairie based on theoretical concepts around luxury brand management. It also features a brief analysis of Sweden's potential as a market for luxury goods and proposes a launch strategy for the brand's skincare products in this market.As it is practically impossible to be the only supplier of certain product category in today's globalised market place, this definition emphasises the importance of creating a unique position for the luxury brand that makes consumers perceive it as incomparable to potential competitors. With regards to portraying an image of superiority in terms of scarcity, sophistication and good taste, Kapferer and Bastien introduce the "Anti-Laws of Marketing" to be followed in luxury branding, which mainly aim at building and maintain the brand's equity by evoking impressions of the brand's offerings being highly exclusive and desirable.By following the majority of these anti-laws, superpremium beauty brand La Prairie has managed to establish itself in a position that implies superiority across many international markets.Taking into account the importance ascribed to a strong global presence by Chevalier and Mazzalovo in terms of the "radiance" aspect of brand equity, it seems curious that the brand has not yet launched in Sweden's lifestyle and tourism hub Stockholm. The city boasts two high-end department stores (NK and Ahléns) which would be fitting locations for the brand's store-in-store concept.
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