TERM PAPER OF FUNDAMENTALS OF MARKETING MANAGEMENT

TITLE: LUXURY BRANDING Submitted toMr. A Ramesh

Submitted byP. Thaneesh Kumar -10231 P.R.V.P. Rama Tulasi -10232 P. Varun Raju -10233 Parimal Raj -10234 Rakesh Dave -10235 K. Rindu -10236

Table of ContentsBrand Definitions ............................................................................................................................ 4 What is Branding?........................................................................................................................... 5 Brand Elements ........................................................................................................................... 6 Brand Element Choice Criteria ............................................................................................... 6 How important is Branding to your Marketing Strategy? .............................................................. 8 Devising a Branding Strategy ..................................................................................................... 8 The 3 Components of Branding .................................................................................................. 9 Advertising .............................................................................................................................. 9 Marketing ................................................................................................................................ 9 Public Relations ...................................................................................................................... 9 How Can Branding Benefit a Business? ....................................................................................... 10 Recognition and Loyalty ........................................................................................................... 10 Image of Size ............................................................................................................................ 10 Image of Quality ....................................................................................................................... 10 Image of Experience and Reliability......................................................................................... 10 Multiple Products ...................................................................................................................... 11 Luxury ........................................................................................................................................... 12 The Unchanging Nature of Luxury ........................................................................................... 12 Eternal Principles ...................................................................................................................... 13 Who Buys Luxury Brands? ........................................................................................................... 15 Luxury Brands in Segments .......................................................................................................... 17 Fashion: Worlds Most Powerful Luxury Brands ..................................................................... 17 Louis Vuitton ........................................................................................................................ 17 Herms .................................................................................................................................. 17 Gucci ..................................................................................................................................... 18 Chanel ................................................................................................................................... 18 Hennessy ............................................................................................................................... 19 Rolex ..................................................................................................................................... 19 Mot et Chandon ................................................................................................................... 19 Cartier ................................................................................................................................... 20 Fendi ..................................................................................................................................... 20 Tiffany & Co. ........................................................................................................................ 20 Automobiles: Ultra Luxury Cars .............................................................................................. 21 2

Bently .................................................................................................................................... 21 Rolls-Royce........................................................................................................................... 21 Aston Martin ......................................................................................................................... 21 Maybach ................................................................................................................................ 22 Maserati................................................................................................................................. 22 Conclusion .................................................................................................................................... 23 Bibliography ................................................................................................................................. 24

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Brand DefinitionsThere are various definitions of brands in this modern world. Some of these definitions attempt to explain themselves in the most commendable way possible. Different businessmen,

magazines, companies, newspapers, authors, associations, etc. have per-conceived ways of expressing these definitions based on existing market scenarios. Illustrated below are some of these definitions: 1. A brand is a Claim of Distinction. Its whatever separates the business or organization from its competitors, makes it stand out as extraordinary or, better yet, more valuable to the customer. Its not just a promise, however. Its also the compelling evidence that makes your claim credible your evidence of distinction. Communicated effectively, it instills confidence in the purchase decision. Its the sum total of all the perceptions you want the marketplace to have about your company at the moment of purchase decision. 2. A brand is a product, service, or concept that is publicly distinguished from other products, services, or concepts so that it can be easily communicated and usually marketed. A brand name is the name of the distinctive product, service, or concept. Branding is the process of creating and disseminating the brand name. Branding can be applied to the entire corporate identity as well as to individual product and service names

3. One

of

the

classic

definitions,

often

referred

to, is

from

Kotler:

A name, term, symbol or design, or a combination of them which is intended to signify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.

4. At the heart of a successful brand is a great product or service, backed by carefulplanning, a great deal of long-term commitment, and creatively designed and executed marketing. A strong brand commands intense consumer loyalty.

5. The American Marketing Association (AMA) defines a brand as a name, term, sign,symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and a to differentiate them from those of other sellers.

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What is Branding?There are many different definitions of a brand, the most effective description however, is that a brand is a name or symbol that is commonly known to identify a company or its products and separate them from the competition.

A well-known brand is generally regarded as one that people will recognize, often even if they do not know about the company or its products/services. These are usually the businesses name or the name of a product, although it can also include the name of a feature or style of a product. The overall branding of a company or product can also stretch to a logo, symbol, or even design features (e.g. regularly used colors or layouts, such as red and white for Coca Cola.) that identify the company or its products/services. For example: The Nike brand name is known throughout the world, people can identify the name and logo even if they have never bought any of their products. However, not only is the company name a brand, but the logo (The tick symbol) is also a strong piece of branding in its own right. The majority of people that are aware of the company can also identify it (or its products) from this symbol alone.

The clothing and running shoe company Adidas is well known for using three stripes on its range of products. This design feature branding allows people to identify their products, even if the Adidas brand name and logo is not present. 5

Branding is endowing products and services with the power of a brand. Its all about creating differences between products. Marketers need to teach consumers who the product is by giving it a name and other brand elements to identify it, as well as what the product does and why consumers should care. Branding creates mental structures that help consumers organize their knowledge about products and services in a way that clarifies their decision making and, in the process, provides value to the firm.

Brand ElementsBrand elements are those trademarkable devices that identify and differentiate the brand. Most strong brands employ multiple brand elements. Nike has the distinctive swoosh logo, the empowering Just Do It slogan, and the Nike name based on the winged goddess of victory.

Brand Element Choice CriteriaThere are six main criteria for choosing brand elements. The first three; memorable, meaningful, and likeable are brand building. The latter three; transferable, adaptable, and protectable are defensive and deal with how to leverage and preserve the equity in a brand element in the face of opportunities and constraints. Memorable How easily is the brand element recalled and recognized? Is this true at both purchase and consumption? Short brand names such as Lux, LC and Taj are memorable brand elements. Meaningful Is the brand element credible and suggestive of the corresponding category? Does it suggest something about a product ingredient or the type of person who might use the brand? Consider the inherent meaning in names such as Fir & Lovely fairness cream, Close-Up toothpaste, and Mothers Recipe pickles. Likeable How aesthetically appealing is the brand element? Is it likable visually, verbally, and in other ways? Concrete brand names such as Scorpio, Splendor, and Maharaja evoke much imagery.

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Transferable Can the brand element be used to introduce new product in the same or different categories? Does it add to brad equity across geographic boundaries and market segments? Although initially an online book seller, Amazon.com was smart enough not to call itself Books R Us. The Amazon is famous as the worlds biggest river and the name suggests the wide variety of goods that could be shipped, an important descriptor of the diverse range of products the company now sells. Adaptable How adaptable and updatable is the brand element? Lifebuoy, launched in the year 1895, with its brick red color and the cresylic perfume, underwent several changes over the years. The biggest change took place in 2002 when the brand was re-launched with new formulations, color, fragrance and packaging to make the brand contemporary. With the re-launch, Lifebuoy made a conscious shift in its positioning from the victorious male concept of health to a warmer and more versatile benefit of health for the entire family. Although the product formulation, packaging, and other brand elements have changed to synchronize with the changing consumer perception and preferences, the brand continues to maintain its core value proposition of health. Protectible How legally protectible is the brand element? How competitively protectible? Names that become synonymous with product categories such as Kleenex, Kitty Litter, Jell-O, Scotch Tape, Xerox, and Fiberglass should retain their trademark rights an nod become generic.

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How important is Branding to your Marketing Strategy?Branding is not about getting your target market to choose you over the competition, but it is about getting your prospects to see you as the only one that provides a solution to their problem.

The objectives that a good brand will achieve include: 1. Delivery of the message with clarity 2. Confirm your credibility 3. Connect your target prospects emotionally 4. Motivate the buyer 5. Concrete User Loyalty

To succeed in branding one must understand the needs and wants of their customers and prospects. You do this by integrating the brand strategies through the company at every point of public contact.

Your brand resides within the hearts and minds of customers, clients and prospects. It is the sum total of their experiences and perceptions, some of which you can influence and some that you cannot. A strong brand is invaluable as the battle for customers intensifies day by day. Its important to spend time investing in research, definition and building of your brand. A brand is a source of a promise to your consumer. Its a foundational piece in your marketing communication and one you do not want to be without.

Devising a Branding StrategyA firms branding strategy reflects the number and nature of both common and distinctive brand elements it applies to the products it sells. Deciding how to brand new products is especially critical. When a firm introduces a new product, it has three main choices: 1. It can develop new brand elements for the new product. 2. It can apply some of its existing brand elements. 3. It can use a combination of new and existing brand elements. 8

The 3 Components of BrandingIf branding is the creation and development of personality an identity for a product or company, it is the result of work by a number of different professionals, all aiming at the same goal. While the roles of advertising and marketing have been well documented, the third leg of the tripod within the branding process, public relations, has largely been overlooked.

AdvertisingIts a wonderful thing to create a unique, user-friendly brand that the public is sure to embrace. However, if the public doesnt find out about the brand; and much of the public will find out through advertising, all that effort, time and money will go to waste. The look and attitude of advertising also help define the brand in the publics mind.

MarketingIn devising the personality of the brand and determining how it will be presented to the public, marketing, which is usually done in-house and through consultants, helps to create the entity that the brand will become. Its a fine thing to own the recipe for Bourbon cookies, but if you decide to sell the recipe and not the cookies, you would be making a very large marketing mistake. Marketing is not just selling; its knowing what to sell and how to sell it as part of a larger plan.

Public RelationsPublic relation generates publicity for the brand, helps solidify the publics opinion of the brand, and defines the brand; all without being perceived by the public. Advertising is obvious, marketing is invisible, but public relations are the most difficult of all things to be. It is subtle. It is also arguable the most valuable, indispensable part of the branding process. Without public relations, it would be impossible to create a truly world-class brand, no matter what the budget or how exciting the product.

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How Can Branding Benefit a Business?Recognition and LoyaltyThe main benefit of branding is that customers are much more likely to remember your business. A strong brand name and logo or image helps to keep a company image in the mind of the potential customers. If the business sells products that are often bought on impulse, a customer recognizing the brand could mean the difference between no-sale and a sale, even if the customer was not aware that this business is selling that particular product. If they trust the brand, they are likely to trust the business with unfamiliar products. If a customer is happy with the products or services, a brand helps to build customer loyalty across the business.

Image of SizeA strong brand will project an image of a large and established business to its potential customers. People usually associate branding with larger business that has the money to spend on advertising and promotion. If the company can create effective branding, then it can make its business appear to be much bigger than it really is. An image of size and establishment can be especially important when a customer wants reassurance that the company will still be around in a few years time.

Image of QualityA strong brand projects and image or quality in the business, many people see the brand as a part of a product or service that helps to show its quality and value. It is commonly said that if the company can show a person two identical products, only one of which is branded; they will almost always believe the branded idem is higher quality. If the company can create an effective branding, then over time the image of quality in its business will usually go up. Of course, branding cannot replace good quality, and bad publicity will damage a brand, especially if it continues over a long period of time.

Image of Experience and ReliabilityA strong brand creates an image of an established business that has been around for long enough to become well known. A branded business is more likely to be seen as experienced in their 10

products or services and generally be seen as more reliable and trustworthy than an unbranded business. Most people will believe that a business would be hesitant to put their brand name on something that was of poor quality.

Multiple ProductsIf a business has a strong brand, it allows linking together several different products or ranges. It can put its brand name on every product or service sold by it, meaning that customers for one product will more likely to buy another product from the company.

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LuxuryBy definition, a luxury brand is an outstanding brand, justifiably priced highly and destined, at least primarily, to a select group of the social-economic elite. Luxury is not about the ability to not attain. After all, you cannot profit from consumers that cannot buy your brand. However, luxury is about the consumer outstretching herself a bit to buy something extraordinary but rather expensive for her financial ability. Luxury is relative. One mans luxury is often anothers (usually richer) everyday lifestyle. The standard of luxury is mutable. Todays luxury is often tomorrows commonly expected standard. Luxury brands are under a constant pressure from non-luxury brands trying to offer a similar value for less, thus eroding the status of luxury.

The Unchanging Nature of LuxuryDespite all significant developments, the nature of luxury has remained unchanged in essence. There are sixteen usages that consumers have for luxury brands, a stable set of benefits that motivate us to buy.

People buy luxury brands in order to: 1. Feel special and apart from the crowd. 2. Feel superior and privileged. 3. Feel of value and importance. 4. Exercise ability and freedom (I can afford id, I can do that). 5. Reward themselves for efforts and achievements 6. Console one and recuperate from a setback of misfortune. 7. Signal status and command acknowledgement and respect 8. Demonstrate refinement, connoisseurship and perfectionism 9. Delight the senses, experience pleasant sensations and feeling or create an infrastructure for future favorable experiences 10. Participate in a certain group and lifestyle 11. Signal affiliation and belonging 12. Remind oneself of ones real (aspired) identity 13. Enflame hope and mobilize motivation and energy 12

14. Indulge and pamper oneself, take care of oneself 15. Feel loved, taken care of and even spoiled 16. Show feelings of gratitude, admiration or great affection

There are three defining factors of luxury: 1. Luxury is nonessential. You dont need a Monte Blanc fountain pen to write. You can o without it, but you dont want. Luxury is desired, not needed. In luxury you are at your best. It makes your life richer and more worth living. 2. Luxury is hard to get. Its availability is restricted by high price, by small series, by exclusiveness. If you are allowed at all to try ad get it, it demands an effort, a sacrifice. You cannot ask for the Amex Centurion Black Card which attests that your credit is absolutely limitless. You have to be invited. 3. Luxury is superb, inspiring feelings of wonder and excitement. Just visit exquisite Prada store in Tokyo. It represents and outstanding achievement, it is a divine experience. You cannot but admire the people that created it. You are so charged up that you must share your experience with each other.

Eternal PrinciplesThere are ten eternal principles for developing and managing a luxury brand: 1. A luxury brand is first and foremost a product and/or service of superior quality. A quality gap from competitors is recommend but not mandatory. 2. The products and services are not designed and planned according to consumer tastes and expectations, even though they appeal and cater to sometimes-hidden deep-routed desires. A luxury brand sets its own standards and does not adhere to fashions. There is an air of leadership to it. It is exceptional, unique, original, artistic-creative, surprising and novel. It challenges its consumers for their discerning taste, sophistication,

refinement and dare. 3. A luxury brands most important value lies beyond the core product function or practicality. 4. Luxury brands have something extravagant/excessive/redundant and overly generous about the. Something that is clearly not necessary: the use of unjustifiably expensive 13

materials, performance that is far beyond all needs and requirements, an exaggerated level of service. 5. A luxury brand always expresses zealousness for quality, highly held values or even an ideology, a distinctive culture, together with sense of hedonism, passion for life, and a free spirit. It does that in all the facets of its being including products/services,

management, practices, marketing communications. 6. A luxury brand will always be linked with the circle of those who run the world at that certain period of time and with the success symbols of the time. 7. Behind a luxury brand there are often legends of eccentric genius creators, mysterious production processes, secret formulae, exceptional preparations etc. Stories like these create mystery. A luxury brand treats itself very seriously. 8. A luxury brand is never managed in a democratic way, but rather with authority or even with dictatorship, by a genius creator or by an inspired leader who demonstrates, inside and out, a strong passion for the product and pedantry for every small detail. 9. A luxury brand must be rare or difficult to reach in some way. The awareness to the brand and the desire for it sometimes wide-ranged and other times restricted to a few that are in-the-know. Even the buyers themselves, must not be inclined/capable to purchase the luxury brand too often. It is important to remember that the dream feeds the desire. We can never dream about the accessible. 10. Luxury brand consumers expect to be distinguished from all others, and to be protected from them. At the same time, they expect a special intimacy between them and the company and its managers, as well as flexibility regarding rules that are afflicted on others.

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Who Buys Luxury Brands?Individuals are especially concerned about the impression they make on others. They are more concerned about physical appearance and fashion, and are more likely to use different strategies to gain approval from others. By using status goods as symbols, individuals communicate meaning about themselves to their reference groups. Many consumers purchase luxury goods primarily to satisfy an appetite for symbolic meanings. An important class of symbols involves association with a prestigious group that represents excellence or distinction in an area related to one's self-image. Prestige has always been designated as constituting a basic symbol of one's social standing or status. Prestige-sensitive individuals fear that others might perceive them as cheap if they were seen redeeming coupons. Products especially sensitive to social influence as a display of wealth are the most visible, and include dress clothing, casual clothing, automobiles, stereos and living-room furniture. The master move of the luxury industry is the logofictation of the handbag, plastering instantly recognizable symbols in a continuous pattern all over the bag. The luxurification of clothing is fashion is the process of how the label has gone from inside the collar or the waistband to outside, across the chest, down the side, hidden in plain sight in logos, buttons, crests, initials, etc. Today, you are not what you wear but who wear. On the other side, there is an example of Hugo Boss, where the more you pay, the smaller the logo. And this references the historical conflict between discreet old money and flashy new money.

Consumers who refuse to serve as human billboards will have to compensate the company for the attendant loss of publicity. Consumers are motivated by a desire to impress others with their ability to pay particularly high prices for prestigious suggests that buying luxury brands for children reflects favorably on the financial status of the parents. Many producers of luxury goods tend to believe their clientele comes primarily from the upper income classes. Indeed, the managerial practices of luxury goods companies are based on this presupposition. For example, their media planning gives priority to up-market publications 15

(e.g. Vogue), and their shops are situated in prime locations (Place Vendome in Paris, 5th Avenue in New York, the Ginza in Tokyo, etc.). Luxury items are becoming a necessity. As Coco Chanel said: Luxury is the necessity that begins where necessity ends. As discretionary income increases, and as the prevailing media culture promotes immediate self-indulgence and gratification, i.e. the ego society, it may be the case that the wish to seek status and recognition, whether to impress others or to impress oneself, becomes more important than the ability to do so.

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Luxury Brands in SegmentsHere are some examples of the worlds most famous luxury brands classified into two segments, namely the Fashion Industry and the Automobiles Sector. Over the years these brands have consistently drawn the attention of luxury seekers and maintained their status quo in society as the most expensive and high quality providing products with the use of high quality materials offering performance in interminable stylish capacity.

Fashion: Worlds Most Powerful Luxury BrandsLouis VuittonLouis Vuitton Malletier commonly referred to as Louis Vuitton, or shortened to LV is aFrench fashion house founded in 1854. The label is well known for its LV monogram, which is featured on most products, ranging from luxury trunks and leather goods to ready-to-wear, shoes, watches, jewellery, accessories, sunglasses, and books. Louis Vuitton is one of the world's leading international fashion houses. Louis Vuitton sells its products through small boutiques in high-end department stores, and through the e-commerce section of its website.

HermsHerms International, S.A., or simply Herms is a French high fashion house established in 1837, specializing in leather, ready-to-wear, lifestyle accessories, perfumery, and luxury goods. Its logo is of a Duc carriage with horse. The majority of Herm s is still family-owned (71% is family; 29% is public shares), which means it has the luxury of taking risks when it wants to and staying the course when it doesnt. For instance, the companywhich also owns shoemaker John Lobb chose at the end of 2009 to buy Shang Xia, a new brand based in China tailored to the Chinese consumer. Whats more, not only does the company charge far more for its handmade leather 17

bags than its competitors, it also keeps tight control on who can sell those bags. Thats why you shouldnt find Herm s leather goods anywhere but their own retail boutiques.

GucciThe House of Gucci, better known simply as Gucci is an Italian fashion and leather goods label, part of the Gucci Group, which is owned by French company Pinault-Printemps-Redoute (PPR). Gucci was founded by Guccio Gucci in Florence in 1921. Gucci generated circa 2.2 billion worldwide of revenue in 2008 according to BusinessWeek magazine and climbed to 41st

position in the magazine's annual 2009 "Top Global 100 Brands" chart created by Interbrand. Gucci is also the biggest-selling Italian brand in the world. Gucci operates about 278 directly operated stores worldwide (at September 2009) and it wholesales its products through franchisees and upscale department stores.

ChanelChanel S.A., commonly known as "Chanel" ' is a Parisian fashion house founded by the late couturier Gabrielle "Coco" Chanel, recognized as one of the most established in haute couture, specializing in luxury goods (haute couture, ready-to-wear, handbags, perfumery, and cosmetics among others). According to Forbes, the privately held House of Chanel is jointly owned by Alain Wertheimer and Gerard Wertheimer who are the great-grandsons of the early (1924) Chanel partner Pierre Wertheimer. The company has had many high-profile including Catherine Deneuve (1970s Chanel No. 5 spokes model), Nicole Kidman(early 2000s Chanel No. 5 spokes model), Audrey Tautou (current Chanel No.5 spokes model), Keira Knightley (current spokes model for Coco Mademoiselle), and most famously, Marilyn Monroe (1950s Chanel No. 5 spokes model) pictured splashing herself with a compartment of Chanel No. 5. The image is 18 celebrities as spokes models,

certainly the most famous of all Chanel advertisements, and continues to be one of the most popular advertisement photos in the history of marketing, used in countless biographies, and still selling in large quantities as a poster and art piece using Marilyn Monroe as the model. Marilyn Monroe brought this perfume to fame.

HennessyJas Hennessy & Co., or more simply Hennessy, is a prominent French cognac house and co-leader of the luxury goods company, LVMH. Hennessy specializes in the manufacture of cognac. Today, the company of Jas Hennessy & Co. sells about 50 million bottles a year worldwide, or more than 40 percent of the worlds Cognac. It contains 40% alcohol.

RolexRolex SA is a Swiss manufacturer of high-quality, luxury wristwatches. Rolex watches are popularly regarded as status symbols and Business Week magazine ranks Rolex #71 on its 2007 annual list of the 100 most valuable global brands. Rolex is also the largest single luxury watch brand, producing about 2,000 watches per day.

Mot et ChandonMot et Chandon or Mot, is a French winery and co-owner of

the luxury

goods company MotMot et world's and a

Hennessy Louis Vuitton. Chandon is one of the

largest champagne producers

prominent champagne house. The company holds a Royal Warrant to supply champagne to Queen Elizabeth II.[2] Mot et Chandon was established in 1743 by Claude Mot, and today owns more than 1,000 hectares (2,500 acres) of vineyards, and annually produces approximately 26,000,000 bottles of champagne. 19

CartierCartier S.A., commonly known as "Cartier", is a French luxury jeweler and watch manufacturer. The corporation carries the name of the Cartier family of jewelers whose control ended in 1964 and who were known for numerous pieces including the "Bestiary" (best illustrated by the Panthre brooch of the 1940s created for Wallis Simpson), the diamond necklace created for Bhupinder Singh the Maharaja of Patiala and in 1904 the first practical wristwatch, the "Santos." Cartier SA is headquartered in Paris. The company has a long and distinguished history of serving royalty, as well as stars and celebrities. One Prince of Wales hailed Cartier as "Joaillier des Rois, Roi des Joailliers" (Jeweller to Kings, King of Jewellers"). Cartier received an order for 27 tiaras for the coronation of the future King. King Edward VII was crowned in 1902 and in 1904 he honored the Company with the Royal warrant of supplier to the Royal Court of England. Similar warrants soon followed from the courts of Spain, Portugal, Russia, Siam, Greece, Serbia, Belgium, Romania, Egypt and finally Albania, and also from the House of Orleans and the Principality of Monaco.

FendiFendi is an Italian high fashion house best known for its "baguette" handbags. It was launched in 1925 as a fur and leather shop in Rome, but today is a multinational luxury goods brand owned by LVMH. Karl Lagerfeld is the creative director.

Tiffany & Co.Tiffany & Co. (NYSE: TIF) is an American jewelry and silverware company founded by Charles Lewis Tiffany and Teddy Young in New York City in 1837 as a "stationery and fancy goods emporium." The store initially sold a wide variety of stationery items, and operated as Tiffany, Young and Ellis in lower Manhattan. The name was shortened to Tiffany & Co. in 1853 when Charles Tiffany took control, and the firm's emphasis on jewelry was established. Tiffany & Co. has since opened stores in major cities all over the world. As part of its branding, the company is strongly associated with its Tiffany Blue, which is a registered trademark.

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Automobiles: Ultra Luxury CarsBentlyBentley Motors Limited is a British manufacturer of automobiles founded on 18 January 1919 by Walter Owen Bentley (known as W.O. Bentley or just "W.O."). Bentley had been previously known for his range of rotary aero-engines in World War I, the most famous being the Bentley BR1 as used in later versions of the Sopwith Camel. Since 1998, the company has been owned by the Volkswagen Group of Germany. The firm is based in Crewe, England with their Central Production Facilities being based there.

Rolls-RoyceRolls-Royce Motor Cars is a British manufacturer of luxury automobiles based at the Goodwood Plant in West Sussex, England. It is the current producer of Rolls-Royce branded automobiles, whose historical production dates back to 1904. The factory is located across from the historic Goodwood Circuit in Goodwood, West Sussex, and England. It is a wholly owned subsidiary of the BMW Group. Rolls-Royce Motor Cars Ltd began manufacturing cars in 1903. The factory at Goodwood is the fifth Rolls-Royce UK based automobile production facility since the company was founded in 1904. The previous four were located in Manchester, London, Derby, and Crewe. Previous iterations of the company include Rolls-Royce Limited and Rolls-Royce Motors.

Aston MartinAston Martin Lagonda Limited is a British manufacturer of luxury sports cars, based in Gaydon, Warwickshire. The company name is derived from the name of one of the company's founders, Lionel Martin, and from the Aston Hill speed hill climb near Aston Clinton in Buckinghamshire. From 1994 until 2007 Aston Martin was part of the Ford Motor Company, becoming part of the 21

company's

Premier

Automotive Group in 2000. On 12 March 2007, it was purchased for 479 million by a joint venture company, headed by David Richards and co-owned by Investment Dar and Adeem Investment of Kuwait and English businessman John Sinders. Ford retained a US$77 million stake in Aston Martin, valuing the company at US$925 million.

MaybachMaybach-Motorenbau GmbH is a German luxury car manufacturer. It was founded in 1909 by Wilhelm Maybach with his son Karl Maybach as director. The company was originally a subsidiary of Luftschiffbau Zeppelin GmbH and was itself known as "Luftfahrzeug-Motorenbau GmbH" (literally "Aircraft Engine Building Company") until 1918. Today, the brand is owned by Daimler AG and based in Stuttgart.

MaseratiMaserati is an Italian luxury car manufacturer established on December 1, 1914, in Bologna. The company's headquarters are now in Modena, and its emblem is a trident. It has been owned by the Italian car giant Fiat S.p.A. since 1993. Inside the Fiat Group, Maserati was initially associated with Ferrari S.p.A., but more recently it has become part of the sports car group including Alfa Romeo.

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ConclusionLuxury is a status symbol in society that is accepted by everyone but not necessarily affordable by all otherwise it cannot be considered a luxury. Luxury defines privilege in this world. As defined, a brand is a product, service, or concept that is publicly distinguished from other products, services, or concepts so that it can be easily communicated and usually marketed. It is our job as marketers to use the latest improvised strategies to market these brands and build brand value for the customers. Luxury branding is not merely a term, but underneath this layer is the harsh reality of core competing sensitivity to feed to the wants but not the needs of the affluent society. One does not need a Rolls-Royce but wants it to stand apart from the general public, wants to feel a sense of prestige and pride for having to afford what the common man cannot. The flamboyance of money is substituted with the investment of high end luxury brands.

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"Ultra Luxury Car." Ultra Luxury Car - Luxury Cars. 2010. Web. 9 Sept. 2010. .

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