Gucci Brand Management
Executive Summary
This paper examines the brand management of Gucci, as one of today’s most prominent luxury brands. Based on literature it first looks at definitions of luxury and luxury brand equity as an expression of dream value. Then it explores the identity, brand building, brand architecture, brand stretching and strategies Gucci follows in each of its segments. In the light of the latest recession, it looks at the response strategies of the brand and sheds light on the communication challenges, the brand faces in reconciling its past and current perceptions. The paper suggests certain communication improvements, and argues Gucci should exploit the potential of the Internet as a communication and e-commerce channel, where to gain competitive advantage from other luxury brands.
-1-
Table of contents
Executive Summary ............................................................................................................1 Introduction ..........................................................................................................................3 Literary Review.....................................................................................................................4 Brand identity .......................................................................................................................6 Brand stretching...................................................................................................................8 Challenges .........................................................................................................................10 Recommendations............................................................................................................12 Conclusions ........................................................................................................................15
This paper examines the brand management of Gucci, as one of today’s most prominent luxury brands. Based on literature it first looks at definitions of luxury and luxury brand equity as an expression of dream value. Then it explores the identity, brand building, brand architecture, brand stretching and strategies Gucci follows in each of its segments. In the light of the latest recession, it looks at the response strategies of the brand and sheds light on the communication challenges, the brand faces in reconciling its past and current perceptions. The paper suggests certain communication improvements, and argues Gucci should exploit the potential of the Internet as a communication and e-commerce channel, where to gain competitive advantage from other luxury brands.
-1-
Table of contents
Executive Summary ............................................................................................................1 Introduction ..........................................................................................................................3 Literary Review.....................................................................................................................4 Brand identity .......................................................................................................................6 Brand stretching...................................................................................................................8 Challenges .........................................................................................................................10 Recommendations............................................................................................................12 Conclusions ........................................................................................................................15
References: twitter.com/#!/gucci accessed on September 9th, 2011 Wong, A.C.Y Appendix 1: Gucci: A history lesson Aadapted from an article on Women’s Wear Daily (WWD) (www.wwd.com/fashion-news/fashion-features/history-lesson-3512770, accessed on September 9th, 2011) Adapted from “The Luxury Strategy: Break the Rules of Marketing to Build Luxury Brands” by Kapferer and Bastien (2009) 1 By Aaker and Joachimsthaler (2000) - 24 - Gucci Museum: to open on September 26th, 2011 (www.cppluxury.com/en/gucci-museum-in-florence-to-open-september26_1671.html, accessed on September 9th, 2011)