Luxury and the Montblanc brand
a. “Montblanc. Its development in the luxury industry” OK b. “The Montblanc’s brand extension in the luxury industry” OK c. “Montblanc brand: from a specialised luxury brand to a global luxury brand” 2. Dissertation issue / key question: a. “Did Montblanc, a specialised luxury brand in the writing instrument segment, extend its perception of “luxury brand” to its other product categories?” OK b. Has Montblanc, a specialised luxury brand in the writing instrument segment, been successful in extending this perception to its other product categories? 3. Literature review:
a. Definition of luxury:
* Different points of view
* Key words/concepts (to be tested in the survey)
b. Definition of luxury brand
c. Concept of diversification strategy:
* Drivers to be successful (consumer perception / reaction)
* Performance (to which extent)
* Montblanc: à strategic diagnosis (SBU)
d. Brand extension à Luxury brand perception:
* (How to measure it? Consumer’s reaction)
4. The research:
a. Key question: can a specialised luxury brand extend its perception of “luxury brand” to other product categories? The case of the Montblanc brand. Today, is Montblanc a global luxury brand (not anymore a specialised luxury brand)? Therefore how was it possible? Well know reputation in its core business (for quality, design, social status) and the choice of neighbouring segments. b. Hypothesis: Montblanc is today an established global luxury brand. Montblanc is a clear example of a successful brand extension. How was it possible? (Reputation, tradition, quality, Montblanc extended its way of doing business based on quality and style next to its outstanding reputation in its historical core business) 5. The research:
a. Objective: To prove that Montblanc has been able, in a relatively short time, to become a global luxury brand. 6. The research method:
a. Which is the information to be collected in order to answer the issue discussed within our work and to verify the hypothesis? à the consumer’s perception of the Montblanc brand (the only boss) and the point of view of the Montblanc’s managers (figures on diversification mix, and resources allocated) b. How to collect the data (survey, interviews)?
c. Which is the pitch of the research? Luxury sector, Montblanc and its major competitors in jewellery / watches / leather categories, luxury brand current and potential consumers. Becker, Howard S. (1998), Tricks of the trade, How to think about your research while you’re doing it, The University of Chicago Press. 7. Analysis of the research findings: a. Analyse and understand the collected data à as usually it helps identify some factors that may answer our issue, although often these elements are not complete b. Criticise the research method and its limits (limited sample) 8. Conclusion:
a. Buyers of Montblanc products (not only writing instruments): confirm the hypothesis b. Buyers of only Montblanc writing instruments à to gain tradition in watch and jewellery segments requires times although a good quality but not impossible c. Montblanc’s managers: good results so far.
a. Montblanc has to go on investing in its diversification strategy because failing in doing so would be highly risky for its brand perception among the final consumers. Could Montblanc extend its perception to other product categories? Not right now: low resources and need to be definitively established as a luxury brand in key categories such as watches and jewellery. Write:
* “la problématique” involves the key question, the hypothesis of the research and the elements / factors which will help to develop the chosen subject. This first part includes the definition of the subject, the review of the literature (plus bibliography), the question, the hypothesis and the method of the...
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