Hugo Boss Marketing Strategy & Marketing Mix (4Ps)
Published in Products category by MBA Skool Team
Marketing Strategy of Hugo Boss analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Hugo Boss marketing mix, help the brand succeed in the market. Let us start the Hugo Boss Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Hugo Boss marketing strategy can be explained as follows:
Hugo Boss is premium & luxury apparel & accessories brand. The umbrella brand of Hugo Boss deals with a number of products in its marketing mix which belong to various categories.
The brand has a huge clothing line for both men & women. Its clothing line has been divided into two major branding: Hugo and Boss. Further they are transported into four distinctly postponed brands Boss Black, Boss Orange, Boss Selection and Boss Green, each of these sections have a varied target Audience. Boss being the core brand focuses on the chic brand persona and Hugo is more on the trendy side.
Hugo Boss offers a wide variety of premium perfumes as well. The perfumes are available with stylish bottles and serve a wide range of audience.
The brand also caters to the ultra-premium segment of customers and offers then customized apparel, accessories etc. Shoes, belts, watches, wallets, hats etc. are some of the other products which are offered by Hugo Boss brand.
All Hugo Boss products are targeted towards the upper middleclass and above market where the pockets are deeper than average.
Hugo Boss Price/Pricing Strategy:
Below is the pricing strategy in Hugo Boss marketing strategy:
Hugo Boss has been designed to cater to the high-end premium customers. So, its pricing strategy in its marketing mix is premium and serves to only a niche segment.
The desirability of its brand is of utmost importance to Hugo. The brand managers at Hugo Boss have understood that their brand offers a huge value addition in terms of opulence, and they know that the customer is willing to pay for it. Hugo serves it clients with opulence and wants to maintain its image of exclusivity. The price of Hugo Boss products go hand in hand with the locations the brand caters from, this directly helps them target the right audience at the right time. The brand does not compromise on price and neither does it run flash sale or huge discounts for the market. The annual revenue of the brand is approximately $3 billion worldwide.
Following is the distribution strategy in the Hugo Boss marketing mix:
It is common knowledge that Hugo Boss, as a brand, serves the upper class and is premium in every element. Hugo Boss marks its presence in the most prime locations world over. It is headquartered in Metzingen, Germany. It sells its products in more than 100 countries worldwide. Their target location being Europe and a number of fashionably forward locations across the globe. Mege Malls, High class boutiques, etc. are the locations Hugo Boss products are available. With the growth of ecommerce, the company's website offers a unique online shopping experience.
The brand also has presence across all major multi-brand ecommerce platforms
Hugo Boss Promotion & Advertising Strategy:
The promotional and advertising strategy in the Hugo Boss marketing strategy is as follows:
For years Hugo Boss has been advertising/sponsoring Dynamic sports events as well as Big Fashion events all over the world. Most Hugo Boss customers are fashionistas or business class consumers that are not easy to reach to. Hence Hugo Boss advertises in premium magazines where the brand could catch some eye balls. The brand also follows testimonial based marketing, where the premium customers are interviewed. To maintain this traction, the brand gets itself involved in sponsorship of a number of top class events like Golf championships, Sailing events and Formula One. Besides premium and high octane sports the brand also partnered with UNICEF and other foundations. Hence this concludes the marketing strategy of Hugo Boss along with its marketing mix.
About Hugo Boss:
Hugo Boss, which is one of the most prominent player in the apparel market today, was founded in 1924 by its founder Hugo Boss. Hugo Boss covers segments starting from Casual Clothing to Classic Tailor Clothing.
Also, famous for its perfumes, shoes, watches and recently established kids wear. It is one of the market leaders in high-end fashion products.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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