When it comes to business, Chanel is known everywhere for its exclusivity. Chanel is run by the companies shareholder the Wertheimer family whom have been Gabrielle Chanel's early business partner. The company is held together privately differently than other luxury brands like Prada, and Gucci. Chanel never announces their business motives, attend industry conferences, nor do they report their performance figures publicly. Making it impossible for anyone on the outside to know exactly how big Chanel's business really is. As far as business marketing, Chanel is for personal consumption. The company is not a business market, making the brand a consumer market. Being a consumer market the company's buying and purchasing are approached more professionally and in a personal manner.
The company had joint ventures with department store where Chanel products are sold. Having these ties there is a level of trust and relationship commitment involved. Chanel shares this with those department stores, Macy's, Saks, Bloomingdales, etc. The company markets to men and women 16-80 that can afford to buy the brand.
Chanel takes great pride in their customer service as well as goods and services when it comes to business purchasing decisions. Being a consumer market they are very personal when it comes to all aspects buying behavior and their purchasing decisions. They company builds strong relationships with their customers and are more than accommodating to their needs, personal tailoring being one of them. This is one if the leading factors to why the company is so successful with an estimated $3 billion a year as well as being the leading house of luxury world wide.
No comments:
Post a Comment