The Marketing Strategy of Fashion Luxury Brands - A Case Study of Balenciaga

Abstract

In the highly competitive luxury industry, brand managers' control of marketing strategies will directly affect consumer behaviour. As the luxury industry continues to grow, brands are faced with the challenge of capturing share in the industry. The use of marketing strategies has become a key tool for brands to achieve this. By systematically breaking down the Balenciaga brand strategy into the four C's (Consumer's need, Cost to satisfy, Convenience to buy, Communication), the aim of this study is to extract the rules in luxury brand marketing using the brand as an example. In other words, to summarise the successful business marketing model by extracting the successful strategies of the brand. In addition, this study suggests the current room for improvement of Balenciaga, which will bring innovation points to the luxury industry. This study concludes that the marketing strategy of the luxury industry should be based on the interests of consumers while building a good brand image.