Case Study

Maintaining status quo for luxury brand in competitive environment

The Company : A renowned luxury brand company, known for its superior quality, excellent designs and unparalleled craftsmanship. The brand is sold across the globe from west to east. It caters to wide customer base with varied cultural backgrounds.

Problem : In recent past, the brand has witnessed steep fall in market share due to increased competition and is facing a major challenge in maintaining its status quo.

Approach

We developed a systematic step by step approach to address the issue

Step 1: With the help of our proprietary tech-enabled tool we captured valuable customer data and gathered insights about customer’s value perception.

Step 2: We identified, examined and analyzed the problem areas with the help of appropriate qualitative and quantitative research techniques.

Step 3: We developed actionable strategies for the marketers to build long term sustainable relationships with their high-end customers.

Results

We discovered that customers were not satisfied with after- sales support service. The patrons were attracted by the competitors who were providing better services. We assisted marketers to build strategies to reduce post-purchase dissonance among customers. We provided specialized training programs to luxury sales associates to enable them to go an extra mile to fulfill the expectations of their luxury customers by providing them with a unique bespoke service experience. This structured approach helped the brand to regain its leading position in the market.