Innovation and design
Strengths
Meanwhile, the brand remains exclusively available to the super rich of society, meaning that despite its high awareness only a few can afford its watches. Thus, the value equation for the brand remains positively high. As an exclusive brand, customers will have to go out of their ways to buy the brand. The investment needed for customers to make makes the attached to the purchase process. Thus, this is a demonstration of luxury set the price and not the other way round.
Branding
Strengths
Cartier focuses on emotional appeal in its marketing messages and uses online advertising mostly. Its marketing message is “declare your love Cartier” and it has used niche networks for reaching more potential customers. Cartier delivers rich values of the brand when marketing its products in any channel.
Weakness
The branding has no reportable weaknesses. It has been done mostly according to many requirements of the anti-laws of market, including not communicating too much about price. Instead it has concentrated on marketing. Continuation with the strategy will lead to better results for the company.
Opportunity
Exclusivity can help drive the appropriate brand personality as rich (Jones, 2014). Meanwhile easy access can hurt the brand. Thus, limited availability, while increasing awareness, is a good opportunity to explore.
Corporate Strategy
Strengths
In 2012, Cartier was named luxury marketer of the year because of its use of multichannel campaigns. The company offers watches and accessories. It has successfully embraced the anti-law of marketing that insists on using advertising to improve value rather than promote sales. The campaigns by Cartier are awe-inspiring.
Another good strategy for the corporate strategy and marketing efforts of the company has been to reduce the number of its marketing partners, including advertisers and then significantly increasing the size of the existing partnerships. Working with curated partnerships that ensure there is a dedicated staff for presenting the Cartier brand has successfully worked for the company because it receives the best of marketing engagement and showcase by the partners concerning other brands.
Weakness
It is also focusing on watch making to compete with exclusive watchmakers besides its inclination to accessories. Turning this around, the company can create an artificial shortage by announcing stoppage of manufacturing for a while, and then take pre-orders for its next collection.
Threats
The company is successfully creating awareness of its brand but is also making it easy for purchasers through its certified online sales, which can hurt brand value equation. Thus, responding to brand value equation dynamics is important for any luxury brand.
Website/E-commerce
Strengths
Cartier’s has mastered the use of publisher brand relationship to tell its story to consumers that would even not be its target customers. It has emphasized on delivering stories on print using editor’s voices and points-of-view, which are taken positively by consumers, and they create an effective brand awareness strategy. Consumers’ attitudes towards the brand are socially adjusted naturally.
Threats
Easy availability on the internet will make it easy for counterfeiters to fool consumers with cheap replicas.
Supply Chain Management
Strengths
Long-term partnerships ensure that the business can meet its production objectives for different markets. Clients find it difficult to buy, and they feel dominated with their choices. Overall outcome becomes good for the company in the long-run.
Sustainability
Strengths
The biggest advantage of a multichannel marketing approach by Cartier is that it keeps up the mystique in the eyes of truly affluent consumers. So far, Cartier has been creating an aura of sophistication that other brands are still unable to imitate. Thus, it gains a distinctive market advantage over its rivals for
Internationalization
Opportunity
It is missing opportunities for intimate brand engagements during purchase (Cartier, 2015). With the current success in advertising, it will do well to limit purchases while having a high brand awareness eventually leading to a positive outcome for its brand value equation. It may also extend its market targeting to emerging economies.
Threats
Insisting on exclusive boutique stores would have helped, and the company would only sell marginally online, but the current strategy is making the value too high, which creates a demand for counterfeits.
Ethics
Weakness
The high prices of the watches can evoke jealously and make the brand a target of ethical consumer activists.
References
Cartier. (2015). Shop online. Web.
Jones, S. (2014). Cartier exec says publisher-brand relationship is key to native advertising success.Luxury Daily. Web.