FRAGRANCE
Repositioning an established
fragrance brand.
In today's fast-paced world, technology is changing the way customers behave, making it crucial for brands to regularly assess their positioning and ensure it aligns with their target audience.
By evolving alongside their customers, brands can stay ahead of the competition.
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KOOL BRANDS collaborated with a fragrance business to reposition a world-renowned brand. The challenge was to attract new customers, while honoring its legacy to protect the existing business.
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The fragrance brand had been a household name for over three decades, having successfully launched a large portfolio of products throughout the years. However, after a period of hiatus, growth started to become stagnant.
It was needed to reevaluate the target audience to develop products and work on a message that resonated with the modern consumers.
The strategy was focused on the premiumisation of the brand, providing a luxurious experience, premium products and high-end marketing initiatives, allowing the brand to enter new markets at higher price ranges.
To secure brand consistency across all markets, we introduced a clear price structure and distribution strategy. By analysing the product portfolio and the target customer we were able to organise the brand into three tiers: classics, regionals and prestige. This approach allowed us to come up with differentiated marketing and sales strategy to unlock growth for each one of these tiers.
One of the biggest challenges of repositioning an established brand is to roll out the new strategy in existing markets in which the brand had already a presence and a previous history.
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We studied the key territories and, based on the brand's life-cycle, we classified them into three groups: established, new and mass. This approach allowed us to develop distinctive go-to-market strategies that captured the different realities and resonated with the local consumer. The guideline included a distribution strategy, a recommended product mix and bespoke marketing to achieve the best results. Additionally we worked together on various initiatives to help new markets learn about their different audiences, and adopt the most adequate message and value proposition.
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Our efforts resulted in the elevation and repositioning of the brand, entering new markets and changing perceptions amongst retailers and consumers.
Our approach delivered significant growth and a successful comeback of the brand to the fragrance market.
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Is you brand facing a similar challenge? Or, are you thinking of revamping your brand strategy?
