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1. The product offered by Godiva is an affordable and accessible one that is made for every-day sharing. There are three different levels of the product: the core product, the actual product and the augmented product. The core of the product represents the benefit of this product, the benefit that makes it valuable to its consumers, in this case the reputation of Godiva Chocolatier (high end brand). The actual product is “Godiva Gems”, the tangible, physical good.
The augmented product, the non physical part of it, is the fact that it makes a premium quality brand available in supermarkets at a lower price and the fact that it is accessible for everyday consumption. 2. The Godiva brand will not be damaged by “Godiva Gems” because the marketing environment has changed and an adjustment was called for.
The 80 years old reputation of Godiva is well established and it can’t be shacked by the launch of its low-end product. Also, as the consumer behavior changed because of the instable economy so did Godiva had to change with it.
There might be a small risk of cannibalization of this line extension for the existing product line, but if this occurs it can be used as a strategy to capture a larger market of a different market segment. 3. Godiva holds global brand characteristics like the fact that it is perceived to echo the same set of morals standards all around the world; it also transcended its origins and formed a well-built, stable relationship with consumers across countries and cultures.
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“ She followed all my directions. It was really easy to contact her and respond very fast as well. ”
Godiva is also sold in international markets and this is another characteristic of a global brand.
4. In the luxury industry, clients value the quality of the products and the brand the most. Being produced and packaged in Turkey may alter the image of the brand so consumers of the high-end line of Godiva chocolates may stop buying them. Even though there was a financial crisis, sales of products like Godiva chocolates have not decreased. On the other hand, Godiva Gems, being produced and packaged locally and also affordable may go through a boom in sales. To conclude, the luxury brand could suffer because "country-of-origin" and "packaging" are factors that influence high-end consumers' motivation. . When entering the Asian market and a market with Muslim consumers, adaptation is a must in the case of Godiva Gems, the affordable line, because these particular consumers have to be treated differently that the rest of the world, taking into consideration religion and tradition. However, in the case of Godiva luxury chocolates, in order to preserve the image of the brand, standardization is the best option. An international luxury brand like Godiva chocolates must remain standardized in order for consumers around the world to enjoy and have the same experience all the time and everywhere they go.
Godiva Chocolatier and Godiva Gems. (2020, Jun 02). Retrieved from https://studymoose.com/godiva-chocolatier-godiva-gems-new-essay
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