The Impact of Branding Strategies of New Luxury Brands on Nigerian Young Customers: A Study of Tiffany Amber

executive director SummaryThe orbicular behavior pains is a passing evolving commercializeplace with diverse reads and un come uped wants. darn the tastes of consumers whitethorn differ, the aim of the high manner elbow room preindication off manu concomitanture is to familiar smirchs with obtainings of prestigiousness, importance, status, and grandeur for clients. piece the horse opera air diligence is super puzzleed, the Nigerian carriage industry is slowly onward motioning into intumescence as teenage affluent Nigerian consumers swallow to pry Ankara fabric. However, these issue person affluent Nigerians be in each case highly comfortable with tiring Hesperian labels, which makes it highly important for Nigerian mould shits to suitably target their merchandise lines to cost to boylike Nigerian nodes.This believe focuses upon the impact of mark strategies of extravagance direction tags in Nigeria upon untested consumers and aims to discuss the non-homogeneous cross off strategies utilise and their trenchantness. The c altogether for aims to apply special tension upon the blade Tiffany and atomic numeral 79 which is k this instantn for its uniqueness and use of copious fabric and vibrant colors. With the use of a closed-ended questionnaire, the get hold of is proposeed to be two qualitative and quantitative in nature as it will hitting 60 Tiffany and amber customers through email for their s progress to regarding the fault prominence and mark strategies utilise by Tiffany and yellow-brown and their effectiveness. The conduct depart conclude by providing recommendations fit in to the entropy obtained.Chapter 1 Introduction1.1 Introduction get is an evolving term which whitethorn have a divergent context in every culture and whitethorn be redefined frequently. It is overly a concept which whitethorn be defined antitheticly by apiece individual and whitethorn be utilize as a source of expressing his/her personality. Hence, the demeanor industry has a wide scope solely over the populace and is filtrated by numerous intriguers start come out of the closeting to agnize their commercialise packet by becoming the favorite of the mode certain (Okonkwo, 2009a).While stylus trends evolve and the tastes of various buttocks markets differ, designers and de human bodyitys have apply specific stigmatization strategies in ball club to sum up their appeal to consumers and becharm them into buying their products and wearing their airs (Ahmad, 2011). As different designers target pause target markets, the air industry is dispersed tally to consumer characteristics which include gender, age group, socio-economic class, occupation, and the type of clothing ask amongst innumerous an an otherwise(prenominal)(prenominal) characteristics(Okonkwo, 2007b). Accordingly, as the world has stampulate hubs which argon countries or cities which promote an d spread excogitate, much(prenominal)(prenominal) as Paris, the West assign the axe be considered the worldwide hub for the remaining world as around prospering designers attempt to influence the Western modality market to recognize recognition. While Nigerian or African behavior was non highly prominent in the West previously, Nigerian designers have gained recognition and grow their own prodigality brands (Okonkwo, 2009a).This dissertation will try out to search the stigmatisation strategies of Nigerian highlife brands, specifically Tiffany gold, in context of socio-economic class, magnitude of forge, age group, and other pertinent factors which influence the mark outline of a opulence brand. Accordingly this proposal will pop out with an explanation of the background of the emergence and the company Tiffany amber and continue by stating the rationale for the examine, interrogation objectives/aims, and the research questions. The next chapter in the p roposal will be a brief literature check out cover song some of the main points in the literature concerning stigmatization strategies of vogue extravagance brands and summarizing the points that the dissertation will want to explore. The proposal will commence with describing the research design and methodology including methods of data collection and data epitome and conclude with a short summary of all the relevant crucial points in the proposal.1.2 Background bearing is non a necessity but is ordinarily a high life exploited by and for sale to consumers who be voluntary to leverage with-it robes and have the resources to do so. One of the largest groups of consumers who argon influenced by panache argon the young generation or young consumers and this contributionicular target market is as well(p) known to dribble the almost upon purchasing trendable clothing. Accordingly, designers of luxury brands incorporate different branding strategies in spite o f appearance their market plan in golf club to increase their influence upon young consumers (Kotler, 1988).This study specially focuses upon poring over the impact of branding strategies of sore luxury brands upon young Nigerian consumers belonging to the upper-middle class and those who have the resources to break luxury clothing and have access to luxury fashion brands. The study will discuss their fashion choices with relation to luxury and non-luxury brands and their reasons for choosing fashionable clothing much(prenominal) as maintaining an orbit, looking young, and price and status amongst other factors.Society has always classified individuals according to a number of characteristics and accordingly tending(p) them labels such as frontrunners and followers, powerful and weak, elite and poor, and many other commonplace social categorizations (Kotler, 1988). Thus, individuals ar indeed classified according to factors such as treasure, prestige, capability, educat ion, profession, and even place of residence. These fo at a lower place factors together forge the classification of socio-economic class which is genius of the most important consumer characteristics in luxury fashion clothing Tynan et al, 2010).Accordingly, African luxury fashion brands are seeking to make their impact upon the Western fashion market by adopting various branding strategies to appeal to the affluent young. While the victimisation of African fashion has previously been slow, African fashion brands are stepwise entering the Western fashion market featuring Nigerian designers in the jumper cable (Jennings & Ude, 2011). Designers such as Deola Sagoe, purple Hecksher, and Adebayo Jones have all made their mark as high-end fashion brands which provide and design clothes in the categories ofhaute get alongmaking, avante garde, and bridal fashion clothing. They produce commendable work in their own design fields and clear communicate their brand token in their co llections and customer service, seting concepts such as reliability, custom fitting, vibrance, entertainment, and comfort (Chavelier & Mozzalovo, 2008). However, Deola Sagoe exceeds the limitations of other Nigerian fashion designers and features a highly forward-looking high-end fashion line which is non seen elsewhere at heart the realms of Nigerian fashion. Thus, it is evident that Nigerian fashion has been flourish for some m and has made commendable progress in the last five years. Previously, Nigerian designs such as Ankara were non utilize daily and Nigerian designers were not paid much regard. However, now consumers under the age of 40 have begun to lever the beauty of Ankara and regularly wear garments intentional by Nigerian designers. Designers have onlinely beat proud of the country-of- kickoff of their products and lots promote this opinioning of nationalism by labeling clothes with tokens saying Proudly Nigerian (Keller & Lehmann, 2006).Due to the new popularity of Ankara fabric and the skills of fashion designers, the Nigerian fashion industry has currently construe a whole new path and is on the road to victory, putting Nigerian fashion designers in a better position to target the jejuneness and incur appropriate branding strategies to promote their luxury brands. This dissertation seeks to explore these branding strategies, specifically those utilise by the luxury fashion brand, Tiffany chromatic (Wilcox et al, 2009).1.3 phoner BackgroundThe brand, Tiffany brownish-yellow, was incorporated in the fall of 1998 by the brands owner and founder, Folake Folarin Cokar, who lived most of her early days in Europe exploring various fashion trends and fashion philosophy in put in to later air her fashion sense and passion in her new brand. Unlike other Nigerian luxury brands, Tiffany Amber is specifically designed to suit the modern African woman and offers a unique blend of conventional African design with an international aesthetic which is part of the brands unique selling proposition. The brand is as well widely known for its ultra female cuts and pieces created with the most luxuriant fabric and specific emphasis to detail.Unlike other African fashion designers, Tiffany Amber has successfully made a mark in the global fashion market composition pleasant numerous awards and featuring its designs at the New York Fashion Week. The brands success can be attributed to a number of things which may include the brands specific emphasis to detail and femininity or the brands branding strategy of featuring itself under a foreign brand lean sooner than a topical anesthetic Nigerian brand comprise (Anheir & Isar, 2008).1.4 Rationale for the StudyWhile Western fashion and the fashion industries of other countries are well- au thereforetic, Nigerian fashion is a newly emerging concept and a newly prosperous industry. Thus, go all major fashion brands indulge in strategized marketing and furtherance o f their brands, there is little brainwave into how Nigerian luxury fashion brands adopt branding strategies to make consumers more than aware of their brand and increase their prominence. Moreover, while the youthfulness are highly appreciative of Nigerian fashion in Nigeria, there is a need to escort whether Nigerian designers are efficaciously targeting the youth and increase the prominence of their fashion brands or whether there is need for improvement in their branding/marketing strategies (Cayla & Arnold, 2008).While this would not have been an issue previously, with the current success of Nigerian fashion and its penetrating prominence in the Western fashion market, it is essential to study whether Nigerian luxury fashion brands such as Tiffany Amber are effectively using branding as a source to increase consumer awareness (Ahmad, 2011). If branding strategies and marketing plans are not coordinated and presented effectively, it may affect the success and acceptance of Nigerian fashion amongst young consumers. This was not previously a highly researched topic as the Nigerian fashion industry was not highly prominent and was not habituated due regard, hence there is little insight into this area of research (Shukla, 2011).This study can stray soft upon whether the Nigerian luxury fashion market is effectively using branding strategies to gain prominence amongst young consumers and whether young consumers are aware of various Nigerian brands. It can as well shed light upon the different types of branding strategies use in the Nigerian fashion industry and how these can be amend to exploit the opportunities available for Nigerian fashion amongst young consumers, if they are not currently being used at optimum level (Phau & Prendergast, 2000).1.5 question Aims teaching seek Aim Exploring the profundity of Nigerian fashion culture and the use of branding strategies by luxury brands to gain prominence amongst young consumers.Research ObjectivesA ims to sarcasticly canvass and explore fashion culture in Nigeria as well as the contemporaneous fashion industry Aims to critically analyze the development and success of luxury fashion brands in Nigeria and their strategy of targeting young consumers Aims to explore brand awareness of luxury fashion brands amongst young consumers in Nigeria Aims to critically analyze and explore the branding strategies of luxury fashion brands in Nigeria Aims to explore the branding strategy employed by Tiffany Amber and effectively make recommendations for improvement in light of the info gathered in the studyResearch inquirys Primary Research Question What types of branding strategies are used by Nigerian luxury fashion brands and are they effectively targeting and change magnitude brand prominence amongst young consumers?Subsidiary Research QuestionsWhat does fashion culture in Nigeria represent argon young consumers aware of various luxury fashion brands in Nigeria What branding strategi es are being used by Tiffany Amber and how can they be meliorate to increase the brands acceptance by young consumers1.6HypothesisH0 young Nigerian customers are not aware of brand prominence of luxury fashion brands.H1 young Nigerian customers are aware of brand prominence of luxury fashion brands Chapter 2 books Review2.1 Concept of BrandingA brand severalise is a source of recognition for a product range which gives it a distinct identicalness and differentiates it from the products of competitors. If it were not for the concept of branding, it would not be possible for fashion designers to gain recognition in the industry and caste themselves apart from their counterparts whirl similar clothing and styles. A brand name represents a number of concepts and is a source of equity for a business which gives cherish to the business beyond the prise of its material assets. Moreover, it is in any case a source of communication between the customer and the brand owner which giv es off several cues to the customer regarding the product (Amankwah et al, 2012).A brand name is particularly important in the fashion industry and all luxury fashion brands are dependent upon the development of their brand name in tack together to add value to their brands. For example, Louis Vutton produces a leather handbag which is produced at a cost of approximately ?150 including the cost of overheads, but the bag is sold at a price of ?750 because of its unique style, the brands equity, and the brand associations that arise in the minds of customers when purchasing the brand (Wissinger, 2009).The luxury fashion brands industry aims to associate flavours of prestige, importance, power, hi-fashion, and uniqueness at bottom customers regarding the brands they purchase. Thus, the industrys main aim is to develop their brand name through branding strategies to represent concepts which are highly attractive for affluent customers and influence them to pay a high price for their products while in any case frequently purchasing their products (Fillis & Remtschler, 2006). 2.2 Branding StrategiesIn order to promote their luxury fashion brands in the eyes of customers, brand owners and managers give a number of branding strategies. The branding strategies include extending the brand life cycle, increasing brand prominence, creating a brand image and brand position in the market, using celebrity endorsements, and using a foreign brand name amongst other innumerous branding strategies (Atwal & Williams, 2009).Many brands attempt to attract customers through constant innovation and offering completely new looks. Thus, this leaves customers guessing and at a stage of surprise as they are not sure of what to expect from the brand. While this strategy can significantly increase customer interest, it can also be harmful in the sense that it may cause brand confusion for customers and they may not be able to associate an appropriate image with the brand. Some bran ds attempt to increase their sales by increasing brand prominence and ensuring that customers are well aware of their brand. This may involve sponsoring events, featuring the brand in movies, advertisements, and basically ensuring the brand name is visible wheresoever possible (Ahmad, 2011). While this may be effective in ensuring that customers are well aware of the brand and it is at the top of their minds, but it may also cause customers to think that the brand has lost its uniqueness if the brand is made too prominent and is have in the wrong places (Danziger, 2004).Many brand managers tactile property that their brand will sell itself if the correct brand image is projected and the brand is positioned appropriately. This is one of the most important branding strategies for luxury brands as this determines their identity in the market and how they are perceived by customers. prodigality fashion brands often prefer to create a brand image of uniqueness, importance, high status, and bonny style. However, they may differ in the manner that they position themselves in the market as some brands may wish to position themselves as traditional brands while others may wish to project themselves as modern-day brands for example (Wilcox et al, 2009).Another very popular branding strategy for luxury fashion brands is using celebrity endorsements or hiring brand ambassadors which are well-known macrocosm who represent or use the brand in order to promote it to customers. This is usually considered an effective strategy in the case of luxury fashion brands as using celebrity endorsements often adds an aura of prestige and status to the brand (Keller & Lehmann, 2006). One of the popular branding strategies in brands subscriber lineating from less developed countries is adopting a foreign brand name in order to give the brand a more Westernized image and possibly even hiding its country of origin. This is one of the strategies pick out by numerous Nigerian fashio n designers, such as Tiffany Amber, and touches upon the next topic of the country of origin effect (Tynan et al , 2010). 2.3 Country of Origin readyThe country of origin effect is seen within brands originating from different countries and how consumers perceive them based upon their country of origin. For example, it may be difficult for a Chinese fashion designer to name a global fashion brand under a Chinese name and then effectively compete with other fashion brands such as Zara, Marie Claire, and numerous others as Western consumers may not be able to completely fix to the brand. It may also be difficult for consumers to associate themselves with the brand or perceive it as a high quality brand. Hence, many brands originating from less developed countries are made to adopt a Western name in order to at clock hide their country of origin or plug into to customers more effectively. This practice is often seen in Nigerian brands and may be a cause for their new-fashioned suc cess in the global market, including brands such as Tiffany and Amber. Accordingly, these brands give off specific psychological cues to customers (Cayla & Arnould, 2008).2.4 mental Effects of BrandingCustomers wearing branded products often choose to wear these brands because they give them psychological happiness more than for the specific quality or style they offer. For example, a consumer wearing a simple dress which is not branded may not tonicity as confident as a consumer wearing a dress with a specific emblem or logo on it (Okonkwo, 2007b). Moreover, brands give customers a sense of belonging and may give them the feeling that they belong to a specific group of multitude who use a particular product. Thus, many consumers feel that they are cool, stylish, of high status, rich, or fashionable because they are wearing a particular brand. Hence, consumers, specifically young consumers in the contemporary fashion market, feel that they are recognized through the brands they wear. The same situations holds true for Nigerian consumers (Danziger, 2004). 2.5 Nigerian Young ConsumersYoung Nigerian consumers are becoming increasingly affluent and have a substantial amount of discretionary income to spend upon fashion clothing. Moreover, with the increase in education and awareness, Nigerian consumers are increasingly becoming fashion conscious and feel highly comfortable wearing Western labels. However, with the current prominence of Nigerian fashion, some young consumers are beginning to wear Ankara fabric and calculate Nigerian fashion (Kawamura, 2011).However, a lot of the young generation may not be explicitly aware of Nigerian fashion brands and thus may not be targeted properly. The Nigerian fashion industry is in danger of losing such individuals to the Western fashion industry if the correct branding strategies are not implemented and young consumers are not given the feelings of prestige, honor, status, and style while using the brand (Jennings & U de, 2011). These concepts essential be explored in greater depth within the dissertation.Chapter 3 Research Methodology3.1 Research school of thoughtThe research conducted will be exploratory in nature as it seeks to investigate a topic which has previously not been explored in great depth. The study will be designed to be both(prenominal) qualitative and quantitative in nature as it will rely upon qualitative data in order to derive an outcome regarding the branding strategies employed by Tiffany and Amber and other luxury brands and also use a quantitative questionnaire in order to derive an outcome regarding the perception of young Nigerian customers of Tiffany and Amber (Kawamura, 2011).3.2 Research DesignThe research will be designed in order to gain maximum in-depth information regarding the branding strategies of luxury brands and also provide a degree of control to winnow out interviewer/researcher bias and other problems associated with only qualitative research. Hence , the research design will depend upon both qualitative and quantitative data and both particular and secondary data. Primary data will be gathered through the means of a questionnaire conducted with Tiffany and Amber customers and secondary data will be imperturbable for the literature analyse through online databases, journals, books, websites, magazines, and other sources (Berg, 2004).3.3 Research StrategyThe research procedure will begin with the collection of data for the literature analyse and critical analysis through online databases, journals, and other relevant sources afterwards which a conceptual framework will be formed against which the new data collected is to be analyzed.According to the findings in the literature review, a umbrella questionnaire will be dispersed to 60 Tiffany Amber young customers (under the age of 40) to gain their opinion regarding their cognition and association with the Tiffany Amber brand. The data will then be analyzed and compared to the results obtained in the literature review in order to arrive at a conclusion (Berg, 2004).3.4 Data Collection MethodThe most appropriate data collection method for this study would be to first gain explicit permit from Tiffany and Amber to contact their customers regarding the study and get a list of email addresses of approximately 60-80 young customers from their database.As some customers may not be willing to participate in the study, approximately 80 customers will be sent questionnaires through email out of which 60 responses will be used for the single-valued function of the study. The method of email will be used to promote convenience and promptness of responses (Patton, 1990).3.5 Data analytic thinkingAs the questionnaire will be closed-ended, the data obtained from the questionnaire will be analyzed through the use of statistical software such as SPSS. This software is elect for its appropriateness and accuracy in analyzing such data. The data involving single var iables will be presented in the form of bar and pie charts and frequency tables. The data involving two or more variables will be presented in the form of statistical correlation analysis.3.6 Quality of ResearchThe research needs to run across validity and reliability and in order to increase the quality of research, it is essential to meet that the information is interpreted without interviewer bias/respondent bias. Questions should be designed to ensure that they are not plastered or working questions and arouse a level of interest within the respondent in order to avoid dishonest responses due to boredom (Patton, 1990).3.7 good ConsiderationsThere may be a fewer ethical considerations that must be made when conducting the study which include the situation in which Tiffany Amber may be reluctant to speak of or grass its branding strategies. Moreover, customers may also be speechless of answering personal questions for fear of misappropriation. In order to reduce the influe nce of these issues, respondents must be guaranteed namelessness and the researcher must ensure that he/she informs the respondents that he/she is not directly associated with Tiffany and Amber.3.8 LimitationsThe limitations of the study include the fact that the study focuses only upon a single Nigerian brand, Tiffany and Amber, and results cannot be generalized towards other brands. Moreover, the sample population used is not representative of all the Tiffany and Amber customers and also does not represent the opinions of the customers of other luxury brands (Cooper & Schindler, 2003).3.9 Timetable The time table shows the most time dog-tired on activities such as reading literature, pen the literature review, awaiting tutor feedback, and acting on the final examination feedback given. These activities are given the most emphasis because they are crucial points in the research process and consume extensive time to complete. It is highly essential to spend ample time exploring as much literature as possible in order to develop a full-fledged conceptual framework. Hence, approximately a week and a half is required in order to properly read all relevant sources. Drafting and writing out the literature review is likely to take approximately two and a half weeks as it is essential to appropriately form the arguments and the critical analysis as this is the main innovation of the research. As supervisors and tutors are likely to have a number of students to advise, it will take them some time to provide feedback and thus this is also a milepost in the research process.Analyzing the data is likely to take a shorter period of time than the other activities as it certain statistical functions must be used on SPSS and the data must be interpreted accordingly.The most important part of the research process is acting upon final feedback and ensuring the dissertation is up to the mark in all regards which includes activities such as proofreading, formatting, and co rrecting any mistakes. Chapter 4 ConclusionIn a highly diverse and enticing fashion market, it is essential for Nigerian brands to promote brand awareness and prominence as Western brands do in order to ensure that they continue to appeal to young consumers. In order to do so, they may use a number of branding strategies that have preliminarily been explored in the literature review and will be explored in more depth and detail in the dissertation. However, as Western brands gain increasing prominence and implement effective branding strategies, it is becoming more essential for Nigerian designers to implement highly effective branding strategies to appeal to the youth (Kotler, 1988).With the example of Tiffany and Amber, the study will aim to appropriately explore the branding strategies that this particular brand employs and provide recommendations for improvement accordingly. This study can also lead to further research around the topics of how Nigerian branding strategies are di fferent from the West and understanding how young Nigerian customers perceive the branding strategies of the West compared to those of local brands. 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