Publicação
Unlocking the elegance : strategic rebranding and repositioning of niche heritage brands in the luxury market : a case study of Musgo Real
| Resumo: | Heritage brand's success and endurance in the luxury market are determined by their ability to achieve a balance between tradition and modernity. Previous research has revealed the challenges that small heritage brands suffer while migrating from premium to a luxury status, including adjusting their brand identity while maintaining their legacy. Research has highlighted the importance of brand heritage in increasing consumer trust and loyalty in the luxury industry. The primary purpose of this study is to attain an improved understanding of the strategic processes involved in rebranding and repositioning a niche heritage brand within the luxury market, in particular Musgo Real, a historic Portuguese grooming brand. The main objectives are to understand the motivations behind this strategic decision and explore the steps involved to successfully reposition Musgo Real from a premium to a luxury brand, while respecting its heritage. Adopting a case study methodology, we conducted in-depth analysis of six semi-structured interviews to Claus Porto´s employees. Findings reveal that Musgo Real's repositioning success is related to its ability to take advantage of the brand's rich heritage while enhancing its products, visual identity, and distribution strategy. The brand journey highlights the necessity of implementing selective distribution, product innovation, and storytelling to strengthen the luxury brand identity. However, challenges such as consumer price sensitivity and the integration of modern elements in a traditional brand are highlighted as critical considerations in the repositioning process. The results of this research are of significant importance for heritage brand managers and contribute to the broader discussion of luxury branding strategy. Brands can accomplish long-term success and increased customer loyalty by embracing heritage as an essential component of brand equity and carefully managing the transition to luxury. |
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| Autores principais: | Santos, Sebastião Albuquerque de Carvalho Moreira dos |
| Assunto: | Luxury brand Repositioning Rebranding Heritage brand Niche market Marca de luxo Reposicionamento Marca histórica Mercado de nicho |
| Ano: | 2024 |
| País: | Portugal |
| Tipo de documento: | dissertação de mestrado |
| Tipo de acesso: | acesso embargado |
| Instituição associada: | Universidade Católica Portuguesa |
| Idioma: | inglês |
| Origem: | Veritati - Repositório Institucional da Universidade Católica Portuguesa |
| Resumo: | Heritage brand's success and endurance in the luxury market are determined by their ability to achieve a balance between tradition and modernity. Previous research has revealed the challenges that small heritage brands suffer while migrating from premium to a luxury status, including adjusting their brand identity while maintaining their legacy. Research has highlighted the importance of brand heritage in increasing consumer trust and loyalty in the luxury industry. The primary purpose of this study is to attain an improved understanding of the strategic processes involved in rebranding and repositioning a niche heritage brand within the luxury market, in particular Musgo Real, a historic Portuguese grooming brand. The main objectives are to understand the motivations behind this strategic decision and explore the steps involved to successfully reposition Musgo Real from a premium to a luxury brand, while respecting its heritage. Adopting a case study methodology, we conducted in-depth analysis of six semi-structured interviews to Claus Porto´s employees. Findings reveal that Musgo Real's repositioning success is related to its ability to take advantage of the brand's rich heritage while enhancing its products, visual identity, and distribution strategy. The brand journey highlights the necessity of implementing selective distribution, product innovation, and storytelling to strengthen the luxury brand identity. However, challenges such as consumer price sensitivity and the integration of modern elements in a traditional brand are highlighted as critical considerations in the repositioning process. The results of this research are of significant importance for heritage brand managers and contribute to the broader discussion of luxury branding strategy. Brands can accomplish long-term success and increased customer loyalty by embracing heritage as an essential component of brand equity and carefully managing the transition to luxury. |
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