Upload
abhyudit-greene
View
225
Download
0
Embed Size (px)
Citation preview
8/6/2019 Crme De La Cream
1/16
8/6/2019 Crme De La Cream
2/16
The Luxury Challenge
Identification of target audience. Understanding psychological and
cultural profile Understanding GCC sophistication
and preferences Understand spending
8/6/2019 Crme De La Cream
3/16
Market Global & regional Brand Crme de la Crme Product Editorial, Distribution &
Competition
8/6/2019 Crme De La Cream
4/16
Background
US is middle of the biggest financial crises European economies are slowing down Middle East & BRIC nations are the
growth drivers of the world Oil prices have doubled over 6 months Oil is a finite resource & governments are
shifting dependency on oil & energysegment.
8/6/2019 Crme De La Cream
5/16
Middle East Millionaire Fact file
300,000 or over 3% of millionaires population are from Middle East
Together they are worth $1.4 trillion
Middle East HNWI population grew by 11.4% in 2007
Their wealth grew by 11.9%
By 2011 ME HNWI wealth would grow by 9.5% yearly to $2.2 trillion
8/6/2019 Crme De La Cream
6/16
Middle East Millionaire Spending
Art
18%
Collectable
11%
Jewelry
18%
Sports
Investment
6%
Misc
14%
Luxury
33%
! include boats, jet, automobiles etc
!! include coins, wines, antiques etc
include sports team, sailing, horse racing etc
# include travel, club membership, apparel etc
!
#
*
!!
8/6/2019 Crme De La Cream
7/16
Dissecting GCCs Affluent
Consumer Behavior
71% men and 77% women shop as pastime higher than the US or European average
127 hour or over 5 days are spent in malls annually
Average credit card billing of GCC affluent is higher than their US counterparts.
Luxury consumer in GCC starts from 20 yrs than the rest of the world average of 40
yrs.
Luxury fashion & leather goods (45%), watches 43%, accessories & footwear (32%)are high on things to buy in next 12 months
Toyota, Mercedes, Nissan, BMW and Chevrolet are the most respected brands amongthe GCC elite
On average they spend 10 nights in luxury hotel annually with Sheraton, Marriott,Meriden, Hilton, Holiday Inn, Inter Continental and Hyatt Regency as the most favoredhotel brands
Market is seeing democratization of luxury brands
8/6/2019 Crme De La Cream
8/16
Oman
By 2012, Oman would attract one milliontourists.
$17 billion infrastructure investment in
the next 5 years Omans GDP grew by 15.5% and 12.9%
in 2006 and 2007 Average 19% growth in retail in last 3
years 46 new brands added to MCC in 2008
8/6/2019 Crme De La Cream
9/16
The Luxury Truth
Luxury Branding is about attitude,attitude of expression and ownership.
Luxury Brands aims at being formal,well executed, trustworthy and longterm.
Advertising is not branding.
8/6/2019 Crme De La Cream
10/16
Luxury brands carefully choosedestinations.end consumer including
8/6/2019 Crme De La Cream
11/16
8/6/2019 Crme De La Cream
12/16
The Luxury Challenge
Build Brand Message
Brand Usage
MessagePerception
Develop BrandTrust
BrandPersonality
8/6/2019 Crme De La Cream
13/16
8/6/2019 Crme De La Cream
14/16
Mission
Deliver a Smile
Create Value
Be influenced and influence luxury
Create Need and address need better
Deliver better ambience both within and outside
Deliver the tangible with a better touch and feel
Deliver the idea better based on research,appraisal & market preposition
Logic
+
Em
otion
8/6/2019 Crme De La Cream
15/16
v/s
More Local Content
Advertiser get reachBetter Targeted
Aspirational yetPerceivable
Audited Advertisers are sure
Privilege Card Brand Usage
8/6/2019 Crme De La Cream
16/16