Literature Review on "Emotional Drivers of Consumer Toward Swarovskis Brand"

Literature Review 38 pages (12508 words) Sources: 45 Style: Harvard

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Emotional Drivers Towards Swarovski's Brand

Emotional Drivers of Consumer toward Swarovski's Brand

Emotional Drivers of Consumer toward Swarovski's Brand

Emotional Drivers of Consumer toward Swarovski's Brand

The standard of living and the lifestyle of the general population in today's time has changed and enlarged because of various economic factors for instance mounting disposable income, growth of high income groups in emerging nations and many more. In a very similar manner, the social influence in the modern epoch towards the purchasing of luxurious items has also come to sight that one can reflect their image as an affluent person. As an outcome of it, demand for the luxury goods and services has escalated and intensified largely (Wright, East & Vanhuele 2008).

The fact that the brand image, reputation, buying and purchasing decisions towards a certain brand and brand loyalty is based on numerous factors, which cannot be ignored or overlooked by the companies and marketers. This is predominantly because the success or the failure of the brand is heavily dependent upon the consumers and the frequency with which they buy a particular product (Wright, East & Vanhuele 2008).

Therefore, emotional drivers must be implemented by brands and organizations that play a persuasive and influential role, thus affecting the buying pattern of the consumers. Moreover, behavioral patterns are significant to understand so that relevant approaches and methods can be used by the marketers to increase profit margin and sales figures (Ind & Bjerke 2007).

This is principally because the behavioral patterns and emotions or feelings are closely linked to the purchasing pattern of the consumers. Therefore, pertaining to this grave concern, emotional brand engagement, brand storytelling and Integrated Marketing Communication (IMC) are some of the prominent tools and techniques that need to be looked upon with gravity (Ind & Bjerke 2007).

While looking at the other end of the spectrum, Swarovski is one of the finest brands of Austria that has gained the reputation of being a luxury, sophisticated and style brand. It manufactures and markets extensive range of products and services that incorporate premium jewelry, decorative objects and accessories such as crystal glass sculptures and miniatures, couture, home decor, and chandeliers (McCabe 2008).

Looking at the history of Swarovski, it has come to notice that the company initiated its business with the manufacturing of fine crystal pieces that was transformed into collectors and gift-giving items. However, as the brand became popular, it broadened its horizon to various other markets like U.S. And UK; expanded its product line and penetrated into the fashion arena, as they began manufacturing jewelry and accessories (McCabe 2008).

Swarovski had clear aims and objectives for becoming recognized in the global market for the quality and elegance of its products couple to the best services provided to its customers. It strongly believed in making their customers brand loyal for which it continuously designed appropriate policies that can suit the present time yet keeping its heritage and legacy alive in all the times since its establishment. Clear visions and missions had begotten it to emerge soon as a designer brand all around the world (McCabe 2008).

Swarovski has believed and implemented the philosophy of respect and responsibility to all its stakeholders including employees, partners, customers and the environment. Swarovski is a brand that has targeted a wide range of consumers that consist of business consumers, people belonging to upper middle class and high income group that have the interest towards the high quality products. While making a comparison of Swarovski with other related products, it has been witnessed that this brand has gained a high ranking in uniqueness, quality and reputation (McCabe 2008).

The name Swarovski has strongly been associated with the term luxury, and the mission statement of Swarovski 'we add sparkle to people's everyday lives' (Swarovski 2012) itself demonstrates this fact that it is a brand that offers a wide range of magnificent and lavish crystal products to its consumers. This eye-catching brand works with the values of being vigorous, dynamic, energetic, and powerful, which denotes that they utilize their key strengths to the maximum. Since the employees are accredited and empowered, thus working in collaboration with one another becomes the strong point that leads to productivity and accomplishment of mutual goals in an effective and efficient manner (Genth 2004).

Swarovski offers innovative, imaginative and uniquely designed products and solutions to its wide ranging customers on a global platform as one of their distinctive potency. Indeed, the advancement and development of new shapes, colors and effects of the crystal products are executed by the team of artistic and innovative workers that can reflect diverse and distinct themes of crystals (Genth 2004).

The brand has very well taken care of the employees and their needs in term of profit sharing, company pensions, housing projects and various other practices because employees are considered as a valuable asset to the company and these intrinsic and extrinsic rewards as a part of corporate culture is conducive to productive and effective output from the employees (Campbell 2010).

Consumer loyalty is one of the primary aims and objectives of Swarovski for which they strive on a continuous basis by pleasing and surprising their consumers. Additionally, Swarovski does not only focus towards having an enduring relationship with the customers but also struggle to have long-standing associations with the partners (Campbell 2010).

In view of emotional drivers that pull the consumers towards Swarovski, the brand has extended and intensified their fashion segment that can provide the consumers with premium luxury experience. This is principally due to the increased demand of the fashion segment in the recent times. However, according to the perception of the management of the brand, this extension would produce high benefits to the company and would result not only in augmented consumer loyalty but would also elevate the sales figures of the brand (McCabe 2008).

Since the leadership aimed to extend a product line of the brand, they were aware of the fact that all the building blocks need to be carefully gazed that can help them achieve their objective of business growth as well as providing the consumers with an entirely creative, exclusive and persuasive experience. The three main themes that Swarovski has focused and would be a substantial part of discussion in the thesis includes emotional brand engagement, brand storytelling and Integrated Marketing Communication (IMC) (McCabe 2008).

1. Emotional Brand Engagement

Emotional brand engagement typically refers to connecting or creating a link between the brand and the consumer on the basis of emotions and sentiments. To connect the consumers with a brand on the emotional basis is essential and vital. Robert Passikoff and Amy Shea described brand engagement as, "the consequence of a marketing or communication effort that results in an increased level of brand equity for the product/service" (2008, pp. xxviii). In actual fact, it has come to vision that the emotional factors are the most crucial and critical components on which the consumer loyalty and spending decisions are based (Buckingham 2008).

This development of brand engagement between consumers and brands endures over time. This means that the deeper and powerful connection with the customer towards a brand on emotional level is dependent upon the frequency and consistency with which a brand can connect. Principally, it has been observed at many instances by researchers and marketers that feelings and emotions are considered as a significant aspect of the buying decision of consumers when pertaining to a particular brand (Buckingham 2008).

This means that the marketers have identified and discovered this piece of information long time back that emotions and feelings largely contribute to the buying and purchasing patterns of the consumers and even their brand engagement. Therefore, the brands ought to gravely consider the ever changing emotions of the customers that change with their lifestyles, needs, and aspirations so that they can enhance and present their product lines accordingly to help the brands cultivate a prevailing and strong correlation and bonding with the increasingly shifting emotions of the consumers (Buckingham 2008).

Emotions and feelings cannot remain unnoticed or overlooked when the consumption of luxury brands is the subject matter. This is normally due to the reason that people get emotionally bonded to the brand when they achieve self-fulfillment as well as their objectives to impress others from the luxury brands experience. This verifies that emotional attachment is subject to luxury consumption (Buckingham 2008).

Taking into account the market for the luxury consumption that includes the accessories, jewelry and so forth; records have indicated that this market is increasingly growing at an accelerated speed without a doubt from the last few decades specifically in the developing nations such as the Asian countries. Consumers have become conscious and aware of the growing market of luxury brands than ever before. This denotes that the consumers are struggling to a greater extent to gain knowledge about the legacy and tradition of the luxury brands. Moreover, the consumption of luxury brands have also escalated because gargantuan number of people tends to make purchase of… READ MORE

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