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3. Associate your product with an emotion or experience

In this sense, the Chanel Marketing strategy was an absolute success. The perfume gave women a mysterious, peculiar sensation that created an experience other than just smelling well. This idea was even strengthened further when a reporter asked the legendary Marilyn Monroe what she wore to bed.

4. Leverage the power of Storytelling

Over the last few years, Chanel has been using one powerful weapon to increase their visibility without the risk of overexposure which could undervalue their reputation and exclusivity of the brand: social media.

5. Reach the right target audience the right way

Another thing that makes the Chanel Marketing strategy so successful is the way they are promoting their products to reach the right target audience. Whether you are in the luxury segment or not, you should always seek for the right channels where your target audience is located.
In this sense, Chanel is doing it just right – for example, by placing ads on high-end fashion magazines such as Vogue, Elle, Marie Claire, Harper’s Bazaar. In addition, they also use a great Point of Sale Marketing strategy with creative and classy store layouts and mannequins
And last but not least, let’s not forget that the Chanel Marketing strategy involves a lot of promotion through supermodels, celebrities, and Hollywood actors who become a face of the brand. All of these actions are carefully calculated by the brand to generate a strong positioning in the luxury market.

PEST analysis

Political
1. Dispute between France and Middle East due to France's stance on freedom of speech 2. Changes in tax rates on luxury goods in China
Technological
1. Virtual & Augmented reality for better consumer experience
2. Using blockchain to tackle counterfeit products
Social
1. Changing consumer behavior due to Covid-19
2. Millennials prefer buying from socially responsible brands
Economical
1. Rising covid cases affecting economic trends across globe
2. Downward drag on company sales due to rising global inflation

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