Analysis of Successful Approaches of Classic Luxury Brand’s Marketing Strategies Before and After the Digital Era

Taking Tiffany&Co. as an Example

DOI

10.2991/aebmr.k.210803.083How to use a DOI?

Keywords

Luxury marketing, Tiffany&Co, Traditional marketing strategies, Marketing strategies in digital era, Jewelry brand

Abstract

With the advent of the digital era, the dissemination of information, people’s consumption level and concept, as well as the luxury market, all have undergone great changes, and these changes require marketing strategies to make adjustment. Nowadays, some new luxury brands are eager to establish their own brands and stand out, and some old luxury brands are also trying to adapt to the new era. Therefore, it becomes necessary to find marketing strategies suitable for new luxury brands and old luxury brands. This article aims to achieve that by analyzing the marketing strategies of a classic luxury brand that succeed before and after the digital era — Tiffany&Co. Tiffany’s classical marketing strategies provide guidance for the brand building of the emerging luxury brands. On the premise of product quality assurance, unique design, brand story and identifiable characteristics are the foundation for building a brand, and celebrity effect is an important way to promote product sales and brand promotion. Moreover, Tiffany’s adapted marketing strategies in the digital era could be used as reference for luxury brands with a long history. These marketing methods demonstrate that the old brands should utilize social networks, establishing platforms that allow customers to shop online and engage in different brands’ activities. By using online platforms, these old luxury brands can increase their visibility, build their own brand communities and attract loyal customers. Also, retro element is an advantage that old luxury brands could use. Besides, the author found that selling affordable products, opening the market to people from many social groups might be a good way to adapt to the new environment of luxury industry.

Copyright

© 2021, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Tianxin Li
PY  - 2021
DA  - 2021/08/04
TI  - Analysis of Successful Approaches of Classic Luxury Brand’s Marketing Strategies Before and After the Digital Era
BT  - Proceedings of the  1st International Symposium on Innovative Management and Economics (ISIME 2021)
PB  - Atlantis Press
SP  - 605
EP  - 609
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.210803.083
DO  - 10.2991/aebmr.k.210803.083
ID  - Li2021
ER  -