Our
team conducted a primary research by publishing a questionnaire on Facebook and
interviewing people face-to-face in order to provide valuable information about
Chopard and Bulgari's brand awareness. Also we did a secondary research by
visiting the companies' websites, Facebook pages, and YouTube ads in order to
have a better understanding of brands' equity value.
When we analyzed the each brand
identity, more specific their category
identification and the needs
they satisfy we notice that Bulgari and Chopard are both perceived exclusive
brands, luxury jewelers, providing high end accessories. Bulgari is associated
with Italy, beauty, chic and colors. Chopard is classic and watches.
They both satisfy the consumers need
for prestige, hedonic and materialistic values.
Analyzing the information we have
for each brands performance we can see that Bulgari is high
quality, and guaranty reliability and durability. It has a creative, colorful
and chic styles and designs. Also the products are market as luxury, therefore
the prices are accordingly. The interaction with consumers is very efficient.
Chopard on the other hand is perceived as offering high quality, designs including
gem stones, classic, fancy style. The brands are perceived as an expensive and
luxury one, therefore they are in the high price segment.
The imaginary part of model, we will notice that
Bulgari's user profiles are women from 30s, but the core market segment being
women in the 40s-60s age groups, with high incomes and successful careers.
They buy their jewelries in
boutiques (flagship stores) for special occasions and events. Bulgari, if it
was a person, would have been described as unique, elegant, refined, joyful
Italian person.
Chopard's consumers are women form
their 20s; however the core target market is women in their 40s-60s age groups,
with a high income and successful careers. They buy their jewelries in
boutiques (flagship stores) for special events and occasions. If Chopard would
have been a person, it would have been described as a reliable, desirable and
charming Swiss person.
The consumers’ response to the brands is based on judgment
and feelings. Bulgari is
perceived by consumers as a luxury, creative and high quality jeweler. They
feel desire, trust and security. Chopard on the other hand is perceived as
luxury and offering high quality, but is less known than other jewelry brands.
People feel secured, trustful and warm.
When
we think about the relationships brands have, we will notice that both brands
are using successful communication strategies, through presentation of
collections, sponsorships, exhibitions, advertisings, digital marketing strategies
(applications, official websites, social media and virtual events) and high
quality service. The relationship are based also on the delivery of unique
collections that satisfy the consumer needs, the exceptional and exclusive
design of shops and the appealing atmosphere inside of them. The brands
communities are found on social media, at the special events like presentations,
exhibitions and private parties.
AB, MK, TP, KV, SG
