Marketing Strategies - New Scent

                      MARKETING STRATEGIES

A new scent, named V1 and created by the 27 years old clothes designer Arfaq Hussain, (who made the air-conditioned jacket for the singer Michael Jackson) has been launched for Christmas and retailed at £ 47,874. It has been promoted as “the most expensive perfume” and it’s a limited edition of 173 bottles. Moreover a case covered in rubies and diamonds and unlimited scent refills are included and guaranteed free of charge.

But which kind of people would be potential customers of Hussain’s perfume? Is the V1 marketing strategy an effective one? Is it enough to include a case covered in rubies and diamonds just to make people spend such a huge amount of money for a perfume?

Surely Hussain’s marketing strategy is not the one of making the V1 perfume available for everyone, but of creating an élite product, something that could rapresent the status of the wealthy people who buy it.

Since V1 didn’t have any success at all, I think this one is not an effective strategy, on the contrary, an example of good marketing strategy is the Victoria’s Secret one.

Victoria’s Secret created some luxury products too, as the Fantasy Bras (the two bras that has been worn by the top models during the Victoria’s Fashion Show) which are adorned in more than 16,000 rubies, diamonds and blue sapphires; But apart from that, it designed also a cheaper collection, called PINK, that is suitable for teenagers and for anyone who doens’t want to spend huge amounts for her lingerie.

Victoria’s Secret was successful in creating a balance between luxury and common use products because, of course, people have always been fascinated by original, exclusive and rare objects but, on the other hand, when it’s time for purchases, they usually tend to buy products with the best quality-price relationship and with the highest utility for their everyday lives.