Select an existing non-hospitality luxury brand.
Present and discuss the positioning of this brand (to be included as a visual in the appendix).
Propose a new brand extension to your parent brand (this could be another product line, hospitality or service offering). Analyse how the new extension matches the brands promise, reinforces the parent brand and helps customer live the parents brand dream.
Clarify target audience and analyse how the new brand extension addresses their characteristics and unique requirements. Present persona for the new brand extension (to be included as an appendix).
Justify business objectives driving the decision of introducing this extension.
Present brand identity prism for the parent brand and show how the new brand extension translates the key components in its business, discuss its key differentiating elements (brand identity prism to be included as an appendix).
Discuss marketing strategy for the brand extension in relation to its parent brands marketing and evaluate how it will help deliver the brands dream. You must utilize online and offline channels.
This assignment is to be presented in form of a report.
Support your discussion with references to the relevant literature on the principles of luxury brand management, marketing and communication (minimum of 20 relevant references are required). Sources can be identified through the Course Description, class material, and own academic research.
All references and data sources used must be cited in the body of your text and also appear in a reference list at the end of your paper using the correct APA format (7th edition).
References are important. They acknowledge your source and avoids risk of plagiarism. They also provide the information necessary for a reader to locate and retrieve any source you cite for further reference.
i) Appendices:
Appendices containing positioning, persona and brand identity prism are required. You will receive specific guidelines on these during workshops.
ii) Format and Word Count: Reports of 2500 words (+/- 10%).
You will be penalized if the number of words is 10% over or under the permitted word count. Note: the reference list and any appendices are NOT included in your word count.
The brand selected is Farfetch, the brand extension is a personal shopper service
You will find attached the brand persona, positioning as well as brand identity prism.
If you feel that you need to change some of these, please feel free.
You will find attached instructions for part 1
