Published by MBA Skool Team, Last Updated: January 31, 2021
Marketing Strategy of Swarovski Crystal analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Swarovski Crystal marketing mix, help the brand succeed in the market.
Swarovski Crystal marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Swarovski Crystal Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Swarovski Crystal marketing strategy can be explained as follows:
Swarovski is one of the leading crystal and jewellery brand which has a worldwide presence. Swarovski Crystal produces wide range of products in order to attract more consumer groups. It is loved for its unique product, attention to the intricacies and exceptional designs across the globe. But innovation is the trigger which has kept it on its path of growth and expansion. The company today has a wide portfolio of products, especially pendants, rings, bracelets, etc as a part of its marketing mix product portfolio. The target group is women belonging to different consumer groups having the age between 18-70 years and accordingly the product is produced for them. Customers are given a wide range of products to choose from, their own favourite and meet their needs.
Swarovski Crystal Price/Pricing Strategy:
Below is the pricing strategy in Swarovski Crystal marketing strategy:
Swarovski, for setting prices, refers to their business target market.
Purity of the crystal, design styles, etc. are some of the other factors which affect the pricing decision of the company. However, because it offers luxury goods, there are only a few who can afford to such expensive crystal jewellery and other products. Those who buy belong to the upper class of the society.
Following is the distribution strategy in the Swarovski Crystal marketing mix:
Swarovski Crystal sells its product from the large department stores. This is so because of three reasons, first being theses stores providing broad consumer base. Second reason is that places like shopping malls ensures better product quality. Thirdly, customers get attracted when they see sparkling crystal, its texture, and interior decoration. Swarovski’s offices are located in 8 countries including the world’s fashion centres like London, Paris, New York, etc. It also maintains tradition of appealing customers through the visual appeal.
Also, it goes with trend and changing market conditions that the company sells its products online as well.
The promotional and advertising strategy in the Swarovski Crystal marketing strategy is as follows:
Since Swarovski is synonymous with luxury, it has endorsed designers like Christopher Kane and Australian models like Miranda Kerr who is believed to embody every modern women’s traits like success, beauty, fashion, etc. In countries like China, every product is sold with a “Pink Hope” wherein a part of the revenue earned goes to breast cancer prevention special fund. The company uses different media channels like TVCs, online ads, print ads etc to increase its brand awareness. They also organizes and sponsors several events which helps the brand reach out to its elite customer base. Hence this completes the Swarovski marketing mix.
About Swarovski Crystal:
Swarovski is an Austrian producer of crystal (also known as lead glass) by Daniel Swarovski in 1895. It is headquartered in Wattens, Austria. It is split into three major industry areas: the crystal business, optical instruments business and business of grinding, sawing, drilling and dressing tools. “Relentless Pursuit of Production” in their production process is the reason behind the success of the company.
Vision of the company is “To create a Diamond for Everyone”. The company works with objective of providing unique and quality products and focusing on Changing Perception.
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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