Topic
Assessment of the Chanel Brand in the Female Fragrance Industry Table of Contents
Instructions
As a brand consultant, you have been invited by a large international corporation to provide a
report on a new brand they wish to develop or extend, and market into a single geographic
market.
You can choose any one organization from the following industry:
1. Female fragrance industry
2. Energy drinks Industry
3. Telecommunication Industry
4. Sporting Apparel Industry
This organization plans to develop or extend a new brand within each of the three product
categories. You are required to provide a brand plan for a twelve-month period. This
organization will need advice and reasoning behind all aspects of the brand’s development
and marketing. You must clearly outline any assumptions you have made and incorporate
academic literature to support/justify your ideas. Unsubstantiated statements will not provide
credit to your discussion (marking schedule on Blackboard).
Answer Preview
The core of the House of Chanel’s brand no longer lies in its unique fashions but is in its unique fragrances. Unlike Chanel’s fashions for women, Chanel’s fragrances for women have endured for more than seven decades. So popular is Chanel No. 5 all over the world that the corporation has successfully reproduced the fragrance in different bottles over the years. For the course of her life, Coco Chanel was associated with prestige and exclusivity (Gundle, 2008). It is these qualities that have been identified with the products manufactured by her company ever since.
It is estimated that the global fragrance industry makes profits of more than $30 billion every year (Morand, 2013). According to Gustafson (2016), even though there have been more than 100 perfume brands created since the early 1900s, Chanel No. 5- which has been sold for more than 90 years, is still the world’s best-selling fragrance. Essentially, a bottle of Chanel No. 5 is sold somewhere around the world every 30 seconds. This runaway success can be attributed to the unique personality of Chanel’s founder- Coco Chanel. She created a brand whose prestige has endured for decades after her death. In addition, her successor Karl Lagerfeld still maintains her distinct personal style, though he interprets it through his own technique (Alston, 2014).
Word Count: 3200