The text explores the challenges faced by small luxury brands in the market. Currently, there is a trend where affluent individuals purchase brands because their local stores only sell designer products. Consequently, larger companies like LIVE (Louis Button) and Meet Hennessey are acquiring licenses from smaller wealthy groups to sell their products. These large companies possess the resources and financial capability to effectively market products, which smaller firms cannot afford. Additionally, the text emphasizes that small affluent companies can no longer afford to advertise their products due to exorbitant costs and insufficient sales volume and working capital. This has resulted in designers aging and lacking the necessary design and management skills required for a successful business.
From a marketing standpoint, it is concluded that advertising expenses necessitate significant sales vo
...lume and working capital, two aspects many family-owned firms lack. Consequently, these companies do not have enough funds to efficiently promote their luxurious goods or services. The appeal of luxury brands lies in both the assurance of quality associated with the brand name and its reflection of something about the consumer's identity.
Another presented case study focuses on Coffee Mate.
The main advantages of using Coffee Mate include its strong brand name, which is supported by a substantial advertising budget, allowing it to dominate the market with a 55% share and outperform both private label and other brands. Moreover, it is convenient to bring along on picnics and is considered a special creamer that enhances the taste of coffee. However, its sales are being limited due to consumers' preference for skimmed and semi-skimmed milk as a coffee whitener since milk remains the most popular choice.
To overcom
this challenge, Coffee-Mate should be promoted extensively so that consumers can incorporate it into their daily lives as a healthier substitute for cream in their food. Not only does it contain less fat than cream, but it also offers overall health benefits. One strategy to further boost the popularity of Coffee-Mate could involve enlisting renowned chefs such as M¤laze and Hennessey to endorse the product.
Monika's sudden transition from being a mobile phone manufacturer to an Internet service provider is driven by demands from other operators who lack the necessary resources to develop their own services. These operators approach Monika seeking permission to utilize their platform for internet services. As a result, Monika sees potential in investing in this niche market. Analysts speculate that smaller operators like Buggies France or Wind in Italy may choose Monika's portal instead of developing their own services.In addition, Monika's platform is in high demand beyond North America and Western Europe, especially in regions where operators focus on selling airtime minutes rather than developing their own services. This shift in strategy by Monika brings forth new competitors and alters the market landscape. Previously competing solely with other mobile phone manufacturers, Monika now faces competition from platforms like tunes and Anapest as well. These platforms have a vast music library that poses an additional challenge to Monika's market position. However, it is worth noting that Tunes and Anapest collectively offer over a million tracks, which falls short of the million tracks offered by Million.
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