INNOVATIVE METHODS OF MARKETING MANAGEMENT OF LUXURY BRANDS FOR EXAMPLE GUCCI'S COLLABORATION WITH THE FIAT COMPANY
AbstractBranding is a basic and necessary tool in marketing. Recognizable brands develop international trade, cooperation, and exchange of goods. Of late, luxury brands have entered a new level of marketing and customer interaction, whereas, previously, brands specializing in one sector of the economy, generally ignored others. Gucci is a luxury brand that has recently teamed up with FIAT, a company with a completely different profile to that of manufacturing in the apparel industry. The aim of this study was to establish whether customers buying products from Gucci were interested in its collaboration with the automotive industry and whether the Gucci brand had become more recognizable because of this cooperation. The conclusions were somewhat remarkable, with the Fiat 500, a product combining reliability and beautiful design, continuing to be immensely popular. In addition, the cooperation of both brands has brought large profits and a significant increase in awareness of both companies. Undoubtedly, the innovative marketing method of designing a new car model, in collaboration with a luxury brand, brings awareness to both brands. Further studies are likely regarding this unprecedented case of cooperation between a brand of luxury clothing and one of an automotive company.
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