CHANEL - Brand Equity, Brand Positioning, Brand strategy Essay

CHANEL - Brand Equity, Brand Positioning, Brand strategy - Essay Example Even if they are somehow surviving, that is not because of what they are but because of what they were. They are â€Å"Too Big to fail† but not good enough to succeed, move forward and grow. One cannot completely blame these brands, their marketing managers, and owners for their failure. In the last few decades, the world changed in such unexpected and ruthless way that nobody got a second chance. Moreover, in the name of globalization, increased competition and customer awareness and empowerment, life became even more troublesome for these oldies. However, there are still some brands that were able to absorb all these shocks, maintain their integrity, respect and dignity, outclassed their competitors and are still very much captivating and appealing (Koda, Bolton & Garelick, 2005). They have become symbols of class, respect, honor, and success. However, the question here is what made these brands so great that when their competitors where winding up their businesses, they were still on the road of growth? What has been their magic formula that has been strengthening them over the period? What branding strategies have kept their brand alive and intact? This paper would move further by narrowing its focus to one of the brands that fulfill the above-mentioned criteria of long historical presence and everlasting brand power. Without any doubts, Chanel fulfills these criteria qui te comfortably. Quite understandably, Chanel enjoys immense brand equity in the market and that is why it has been so successful over the past decades. According to marketing experts, there are many reasons for the same. Firstly, the long and eventful history of Chanel provides it an edge over others and contributes to its equity. Previous records of accomplishment, past history and previous customer experiences play a crucial role in branding. This is because one of the most important roles of branding is to help customers to assign responsibility to the