Cape Town - Quality, craftsmanship, prestige and "one-of-a-kind" - these are the cornerstones of the decision making process when consumers purchase luxury brands, according to Paolo Fra, brand and business manager for Bentley South Africa.
He explains that luxury brands need to remain abreast of changes in consumer spending, focusing on a "new, better, best" approach to marketing to merge the heritage and excellence which is associated with the product, while continuing to move the "dial" and secure love brand status with new and existing customers.
It is with this in mind that partnership marketing in the luxury sector continues to gain momentum globally as brands see value both in the strategic partnership, but also the value it creates for consumers.
"Clever brand partnerships are a key part of the luxury marketing mix. Internationally, innovative co-creation activity among brands have become commonplace. Brands have recognised the importance of partnerships as an important marketing tool to attract and retain clients," explains Fra.
An example is the partnership between Breitling and Bentley. In his view this partnership unites the best of two worlds: Elegance and expertise - British chic and Swiss tradition.