Case Study Lladr贸 Business Plan
Alba Maraver Cadenas
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Contents 1. Company and product analysis 1.2 What are the secrets of success of Lladró?
2. Analysis of market and environment of Lladró 2.1 2.2
Who buy’s Lladró products? The demand of Lladró products
3. Competition 3.1 3.2
Direct Competition Indirect Competition
4. Positioning or Branding 4.1 4.2 4.3
Differentiation Competitive Strategies Positioning Plan
5. SWOT analysis – Strengths, Weaknesses, Opportunities and Threats 6. Marketing Mix – Asian Market 6.1 6.2 6.3 6.4
Product Price Distribution Communication 6.4.1 6.4.2 6.4.3 6.4.4 6.4.5 6.4.6 6.4.7
Magazines Spanish Chamber of Commerce Billboards (advertising products, promotions or events) Fairs and Events Promotion CRM – Customer Relationship Management Media Plan
7. Objectives and Strategies 2014 of Lladró - Future
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1. Company and product analysis The company was founded by three brothers José, Juan and Vicente in 1953. Today Lladró is a family business expanded to five continents. Lladró’s creations and brand are popular around the world in the sector of the luxury porcelain industry. Lladró became a leader in the porcelain industry in the 90’s and actually in 2013 celebrates its 60’s anniversary internationally with success, offering new collections, diversification of products and top class events. This company is a based on luxury and high quality porcelain products, the most common creations are the porcelain sculptures, which are highly collectable. Lladró’s products are all made by hand with magic in Spain, in the City of Porcelain in Tavernes Blanques, a town of Valencia. Lladró’s products are exclusive and their unique design creations by artists mix art with traditional and cultural style. All Lladró products follow a meticulous manufacturing process, based in the best handmade techniques, owing the exclusive style and quality of its products. There are exclusives pieces based on perfectionism and take care of all details by professional artists and designers. Its products are designed to satisfy the needs of a select, specific and demanding customer. Lladró is currently the world leader in the sector of luxury porcelain. 1.2 What are the secrets of success of Lladró? Lladró produces high quality porcelain products, made by authentic artists and craftsmen who perform their works piece by piece looking for perfection and detail of creation, based in an impressive and a sophisticated process. Lladró has unique and creative design made by prestigious and professional artists who create incomparable products. Lladró products are based on unique and proprietary manufacturing processes and produced entirely in Spain, offering unique porcelain pieces that shine for their quality and exclusivity. With the passage of time Lladró’s brand has been strengthening. It has several international awards that recognize the quality and value of its products and its signature. As a seal of prestige and exclusivity Lladró has works in museums and galleries all over the world, where some of the best pieces are shown.
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It features celebrities as customers, fans and lovers of their products and brand, giving publicity and brand image internationally. As is the case of Michael Jackson, Corazon Aquino, Raisa Gorbacheva, Ronald Reagan, George Bush, the architect Norman Foster or the astronaut Aldrin. Often Lladró introduces new and original creations, adapting to the market and anticipating their competitors. As are its samurai, horses, eagles, angels, ballerinas, mermaids, quixotic, birds, dragons, Buddha, virgins, owls and many other creations made in Tavernes Blanques based in originality and tradition. Lladró has remained a leader in luxury porcelain worldwide, offering quality and creativity in their designs and products, making a name and creating a lifestyle.
2. Analysis of market and environment of Lladró Lladró has been creating a brand name during 60 years, its products are considered exclusive and its manufacturing process is unique. Lladró sell products in an international market. Asia is now in a largest growth rate, especially for luxury goods, accounting for 37% of turnover. China has sustained rapid growth of its economy, which has created a dramatic increase in average income. Growth of the global luxury market 2011 to 2012 (annual growth rate- Billions of Euros)
- Source: Dipped in Gold: Luxury lifestyles in China / HK, January 2012. CLSA Asia-Pacific Markets-
I can see in the graph that China is the region that has the higher average growth over the next eight years, leaving far behind Europe, an increase of 7%, and 5% American. The breakdown of this growth is based on a 25% between 2010 and 2015, followed by 22% by 2020, according to estimates by CLSA. 4
In 2020, this growth will mean that the Chinese luxury market will become the world's largest market. If these figures are included in the cost incurred by consumers in other countries, all of China (including Macau, Hong Kong and Taiwan) would be 44% of the global market by 2020. 2.1 Who buy’s Lladró products?
They are mature clients who follow classical style or new client that discover the new line of more fresh products offering by Lladró. Demanding clients who appreciate art, culture and esthetics, looking for perfect and exclusive products. People who appreciate luxury and design of high quality products. People who appreciates and wants to have incomparable and unique products. With medium or high incomes. Design and mix of cultural lovers. Collectors who appreciate handmade or porcelain pieces. Middle aged women from Middle to Upper class.
2.2 The demand of Lladró products This is based on good durable markets:
Long periods of time between purchases. Purchase decision process take high involvement. Unit prices high. Distribution channels short and narrow. More important to the maker's brand and design.
3. Competition 3.1 Direct Competition Lladró has a privileged position of sale of porcelain internationally, which is a globally 70% of the market of sculpture of porcelain. Although Lladró is largest outside of Spain than inside, as 85% of its sales is export based. It is the reason that its competitors are growing and coming closer. Nadal Porcelain can be considerate as a direct competition for Lladró, but although it has only a fraction of the market that has been generated it can be competitive with Lladró for collectors of contemporary porcelain and the reality is that little is known about Nadal Porcelain outside Spain or UK.
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From my perspective Nadal Porcelain hasn’t a wide variety of topics such as Lladró, they offering basic sculptures but no innovation at all as Lladró offering a style of life, from its lighting to Jewelry Accessories. Some of Nadal is based in same inspiration and line that Lladró, as Mermaid, tradition, dancer or religion. Meissen porcelain or Meissen china in another competition of Lladró, it is considered as the first European hard-paste porcelain. Its company plays a lot with the artists name and development to compete with designer and style. It has different products not just figures but isn’t that complete as Lladró has a variety of products. It is direct competition for the Lladró Asian market with products as its “Court Dragon”- tableware patterns features Chinese dragons. It has world's great museums too. Royal Copenhagen is a manufacture of porcelain products founded in Copenhagen. The are competition directly with Lladró but their products are exported from China so a client who respect the handmade, the exclusivity and the design of Lladró never will buy products from Royal Copenhagen Also we can think as a directly competitions companies as The Royal Doulton Company or Wedgwood that producing products in porcelain among others. Another direct competition of Lladró for small percentage of the market are the small Spanish porcelain companies like Tengra and Gauls that producing traditionally porcelain in the national market. They are competition for Lladró in the local market, but they haven’t a website and they are not big enough to be known or operate outside of Spain, on the other hand. Also because they are very small companies, they appear and disapppear of the market very easy. 3.2 Indirect Competition Indirect competition consists of businesses that offer substitutes to ours (perform the same functionality from a different value proposition). One of our bigger indirect competitions is Swarovski; they offer luxury, quality and design indirect competitions with Lladró with crystal designs sculptures, lighting products with crystal or with crystal chandelier. Also companies such as Baccarrat who manufacture of fine crystal glassware in France are in indirect competitions with Lladro by producing decoration products, lighting and jewelry. Moser also competes indirectly with hand making crystal products, such as vases and sculptures, drinking sets and bowls and accessories. 6
4. Positioning or Branding Lladró is positioned as a classical, exclusively designed, cultural mixed, handmade and luxury brand. Lladró is in growths stage in the Asian Pacific market, open to new opportunities. Its market is growing fast and its penetration in the market is medium or high. 4.1 Differentiation Lladró is offering exclusive design with handmade products, made piece by piece looking for perfection and detail, creating its own paints/colors and way to shaping products with a twist. Its exquisite fabrication process is famous being completely handmade, and over the years also LLadro has conducted research on materials, paints, varnishes and baking process of porcelain figures, creating a craft manufacturing process that offers its customers exclusive and authentication in their unique pieces. Lladró has a team of experienced workers and artists with excellent training and preparation. They take care of the teamwork creating products piece by piece and doing all possible to get a top quality works base of artistic and technical process. Its brand has an international reputation and prestige, due to its unique design and the quality of its porcelain, always innovation in its design, classic designer mixing with fresh collection inspirited in culture, history, art, mythology or religion. All these distinctions are what allow Lladró to put a high price in its products, differentiating from competitors. Lladró’s brand and products give the possibility to its client to be differentiating from another porcelain buyers. Lladró creates STYLE OF LIFE. 4.2 Competitive Strategies Below I will mention the competitive strategies using by Lladró to be difference to its competitors: INTERNATIONAL, EXCLUSIVITY AND PRESTIGE: Lladró has boutiques in the most exclusive shopping areas scattered throughout the major capitals of the world. Its boutiques give added value to the product/brand, proving its luxury and exclusivity.
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UNIQUE DESIGN AND QUALITY: Lladró creates unique designs, creating their own colors and paints, sculpting its pieces in the traditional way one by one following a handmade meticulous and elaborate manufacturing process. In this way offers customers high quality, unique pieces and unique design. So our competitive advance is our manufacturing process given trust and safety to the clients. HIGH PRICE AND CLASSIC STYLE: Lladró follows a high-price system to protect its brand image. But to don’t lose market Lladró created NAO, Lladró second brand in autumn 2002, which offers affordable prices, to educate and develop young market with the per-perspective of a future acquisition of these most valuable customers, and secondly, multiplying sales opportunities. DIVERSIFICATION: Lladró is using a diversification strategy open their creation to new types of products as jewels, mirrors or lighting. ADAPTATION TO NEW MARKET: Lladró suits culture and demand of its clients in different markets around the worlds, as in the case of Japan, with the creation of Lladró Japan Ltd. on December in 1999. OPEN TO NEW TARGET: Lladró wants to open to new clients, with its product diversification and improvement aims to develop and younger consumers access. ART AND NAME OF BRAND: It has its own museum, Lladró Museum of Valencia, and has pieces in museums and galleries worldwide. Developing the name of the family and names of the artist and designers, as a James Hayon with his porcelain pieces and scultures, Bodo Sperlein, with his lighting or jewels or Tim Biskup, with his colors. INNOVATION: It always surprises its client with new products or collections search the use of new techniques and new fields inspiration and the uniqueness of its products, before its competitions. 4.3 Positioning Plan Upon reviewing the market strategies followed by Lladró I have developed a Positioning Plan to see where the company is with regards to its competitors in the market. I will be base the plan on two criteria for Lladró position in the market, the first is the PRICE (since customers are willing to pay a higher price for more exclusive products and it provides better differentiation from its competitors) and the second is the DESIGN (because its manufacturing process unique is what makes their products unique from the competition).
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On the positioning plan chart I can see Lladró is the leader in design and exclusivity may bring about higher prices. The biggest competitors in design and handmade products is Nadal Porcelain who provides high quality products and design, but a prices more affordable. Meissen Porcelain and Royal Copenhagen instead offer products less exclusive and design and high prices based in luxury brand, and Moissen Porcelain is only manufacture of tableware products, it is a statutory market. To end, companies such as Wedgwood or Royal Doulton offer low prices in exchange for less exclusivity and design.
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SWOT Analysis – Asia Pacific
After studying the positioning of Lladró in general, let’s set the goals of the company and develop marketing strategies and programs in the marketing mix for Asia Pacific market that, firstly capitalize on opportunities and strengths, and on the other, counter the threats and weaknesses.
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Element of SWOT analysis: Strengths:
High quality product - The Lladró products are considered by professionals in the world of porcelain as a good product, looking for always for the absolute perfection. Good positioning in the Asian market - Lladró is very well positioned in the market for luxury, quality, mix of traditional, culture and exclusive porcelain. Strong brand image – attractive products and elaborate and creative design. Good Asian Pacific market segmentation – different products and diversification. Good distribution network - It has an exemplary distribution, all products are made in Spain and sell around boutiques in Asia Pacific. Strong I+D departments – investigation about new manufacturing process or in its painting (combining enamel with matt colors). Good organizational structure – Team work (family work). Self-financing - Its management values. Bell Communication – Lladró has good channel communication in Asia. High investment in Marketing and publicity. Good adaptation of the brand for market and clients – Adaptation to the products to Asian Pacific market. Often offering new creations and collections – Always is creating and innovation new designs.
Weaknesses
High prices. Segmentation elitist. High production cost. Sometimes client confuse the brand or the products. 10
Brand associated with the classics - although there will innovate and open to new markets, many customers associate Lladró’s brand to a classic products.
Opportunities:
Growth of new technologies. New markets - expansion to new countries. Acceptance of products internationally. Globalization of economy. Development of luxury and quality products – Asian Pacific market they appreciate the luxury items (it is very important the social class division). Value for the design and the exclusive goods. Customers look for DIFFERENTIATION in a massive consumer world. High value handmade products. Design and decoration of Western style - Spanish culture and products are getting more and more popular in Asian market.
Threats:
Facing many imitators - Copyright of its designers and style. Problem of identification of the brand. High competitors input - Brands specializing in porcelain. Global economic crisis. The consumers want more personalized products. Increase of counterfeit products – fake products made in China. Cultural Diversity - Difference in mentality and language. High costs of implementation in some of the Asian Market, Australia or Hong Kong. Market perfectionist and demanding - terms of quality and deadlines.
6. Marketing Mix – Asian Market I will do the Marketing Mix analysis focus principally in the Asia Market (Asia Pacific), but its strategies and ideas can be also use internationally. 6.1 Product: Its product is considered as an exclusive and luxury product within the porcelain industry in Asia Pacific. They are creations unique of high quality, where all the details are been take care about to be perfect pieces. The values that convey its works to work see the expression of all feelings from positive human being and life. Lladró’s products are DIFFERENTIATED products.
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Over the years Lladró open its door and create a diversified products not only sculptures, with lighting, decorative objects, mirrors and wall art, tableware, bath complements or accessories/jewelry for women. Also they have a big assortment: Young, luxury, tradition, classic, modern, art, design and mix of culture line. I can see that in the Asian market are facing the creation of a product based on contemporary lines and young targets without losing the artistic component that characterizes Lladró’s work and its brand name. This new trend is evident in their new collections with a funny main character call “The Guest” for young target or “Fantasy” by Jaime Hayon as contemporary luxury line. Definitely Lladró is a sample of a rich mix of tradition and originality work. Lladró adapts its products to the consumer demand of the Asian market, without losing its signature, increasing its value: Innovating in colors: combining matt with enamel color, and decorating their figures with golden touches and more bright colors (reds, blues, yellow or green). Also incorporate creations with black of matter and porcelain. More fresh and passionate style with pieces as “Passionate Kiss”, improving and give value to the brand of the company. Creating pieces inspired by Asian market demand be different of its consummators, principally focusing on below themes in Asia Market:
Elegant ladies – as “Summer Serenade” or “Night Approaches”. Animals – as “Great Dragon” – Red, “Lucky Owl” or “Flock of Cranes”. Children – as “Born in 2013” or “Love’s Tender Token”. Floral themes – as “Blossoming tree “. Mythology - as “Oriental Lioness / Lion” or Chinese Zodiac with “The Horse”.
6.2 Price Lladró has a brand name and a privileged position in the porcelain market allows you to set high prices for their products. Its position and prestige of your brand makes consumers trust Lladró and are willing to pay more for that product. The pricing policy has to be high for the features of your product, its design and its method of manufacture; we have to keep in mind that the price has psychological impact on the consumer.
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Reasons for Lladró must maintain its high prices:
Low prices could damage the image of the company. Brand and products are accepted in the market. Diversity and wide range of products - exclusive design, luxury and quality. International name of Brand. Pieces listed on the porcelain market.
In case you want to set a price lower NAO could use their brand in the Asian market using different distribution channels not to compete with Lladró. Maintaining high prices in the future were based on studies of pricing scenario and Preliminary sales forecast. 6.3 Distribution Lladró has a direct and exclusive distribution channel, unique pieces and a very characteristic signature, you have to go direct to specific boutiques spread over most exclusive shopping areas, as is the case of “CRAWFORD LANE PACIFIC PLACE” in Hong Kong or “L'AVENUE SHANGHAI” in Shanghai, by online shop or catalog, but it is depends of the city and it is not that popular yet. Lladró gave value of brand reviewing distribution channels and by closing outlets that do not meet minimum conditions of presence, space or consideration for the brand and the product. Developing distribution through the opening of its own new boutiques, creating and developing new customers through improved knowledge of the brand, the product and its variety; so Lladró has chosen to offer the public the experience to come and see the world of Lladró, attracting customers to their stores. In this way we can expose more parts and have a more direct contact with the client, taking the opportunity to offer the magic of the firm, with images of light and harmony and learn from the interesting and amazing history of the brand. 6.4 Communication For the analysis of communication, I'm going to be based on two strategies of communications:
To publicize our NEW designs and diversity of products, penetrating new market segments and increasing sales – Notoriety.
Give value to the brand Lladró, be part in the client mind - customer loyalty.
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6.4.1 Magazines Make a study of art and luxury magazines more popular in Asia Pacific. Compare price and cost for full page advertising, it doesn’t need to be in the principal page, because people who bought this kind of magazines will read all pages. Choosing one or two for promote in our new collections and the opening of our new boutiques. 6.4.2 Spanish Chamber of Commerce Present our projects to the Spanish Chambered of Commerce in the principal cities of Asian Pacific. Announce our new collections, events, open boutiques or news in Spanish Chambered of Commerce. Bringing publicity and notoriety in the various cities of Asia Pacific and associating the product brand Spanish, western. 6.4.3 Billboards (advertising collection, event or promotions) - Billboards of the boutique shop: To brand awareness, we can make a big billboard on the outside wall of the boutique shop a month before the opening announcing our products and our brand, and after the opening we can changing the billboards for a small one with some pieces of our collection and renewing go over time and the arrival of new or replacement Collectables . -
Billboards on the street: Make a market research on the main cities of Asian pacific to study the best place to put our billboards advertising our brand to capture the more possible number of relevant spectators. 6.4.4 Fairs and Event
Conduct a study on the main fairs of porcelain, art, luxury, cultural products and handmade products in Asia Pacific and choose in which ones we would like to be. Check cultural and art fairs organize by Spanish Chambered of Commerce in the main cities of the Asian Pacific countries and do study about which one can be good for Lladró, and the potential for organizing a stall. We can do events to promote new collections, boutique openings, art and design exhibitions. Events with some of our artist or designer as guests or with some Chinese, Australian, Philippine or another countries of Asia Pacific. Example of idea: passing the 60th anniversary of the company, we could hold an event in some galleries in the major cities of Asia Pacific, show Lladró as an international successful brand, in which we:
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Expose samples of our collections more news. Put a projection with videos of our manufacturing process Pictures of the before and after of the brand Give flyers with information about our stores and products so that the customer knows where to go to buy Lladró Create a section with samples where customers can come into contact with the product, touch the texture, appreciate the colors more closely, detail, design and finish.
Events idea: "The seasons of the year" to 4 events a year, with the change of season, taking to publicize our new pieces and collections, our new products.
Playing with colors and works Mix the Lladró brand in the change of season Include Lladró works in the culture of each country, such as marketing campaign for each event. Give information about the artists and how they have created the figures Mixing Asian culture with Lladró values and tradition.
Events idea: “Gift box for Lladró pieces in Asian market”. Although we may believe Lladró products are so good they do not need box or wrapping, but the reality is that we have to adapt our offer to the demand of the market where we sell our products.
In the case of the market in China, we have a culture of giving gifts; examples are Chinese New Year or full moon festival. Also many people from the main land come to Hong Kong just to shopping luxury goods as gifts. In Asia in general they love the products packed (we can create a gold package for more expensive pieces and a basic one for normal pieces). For this reason we could create a special box inspired by Chinese culture under the signature and design style of Lladró. Made an event and an entire advertising campaign to publicize our new packaging to be present as a gift option and also attract new customers. Including in the box a little book with some information about the manufacturing processes, the collection with the piece come from, the artist and designer and of course the history of Lladró.
6.4.5 Promotions I will use promotions to stimulate the purchase decision, revealing Lladró products, and accelerating, increasing and ensuring sales.
20% discount in our second purchase in new products – to increase the sales. 15
Open boutiques offer 10% discount in products – to give publicity to the brand.
Give 5% discount in Lladró product’s in boutique to each registration in the newletters – to increase the sales and bring client to our boutiques so they can know more about our products, brand and company - legality client.
Put a stand in IFC building with products, photographs and brochures about our brand / new collections. Offering 5% discounts on new products and 10% on products from other years, to bring customers to our stores and increase sales.
Create small samples for client or to get new client, conventions candles with a bit of porcelain or just small sculptures of porcelain.
Create promotions you limit editions for collectors and lovers of porcelain - to increase brand value.
Provide small samples for purchases of a value exceeding HK $ 10,000 - to encourage the purchase of expensive products or higher volume of purchases in boutiques.
Make luxury developments, modifying or changing the color of some of the most famous pieces in Asia Pacific making as a sales strategy – to promotion the brand and increase the sales.
Perform annual lottery (it can be in Christmas, end of the year or in Chinese new year) - between client who by registering on our newletters and already registered too, of one of the sculptures average price of a limited edition - the draw will be announced in our boutiques by propaganda or specific points in our industry magazines or product - to promote interest in the brand and advertise.
Create a new box for gift products – a new promotion package in the right moments of the year. We can create a gold package for more expensive pieces and a basic one for normal pieces. Increasing the sales of gifts (a big market in China).
Special bottle collection – One per each Asian Pacific country that Lladró sales its products made with symbols that characterize each of the culture or mythology of each country.
Incorporate the jade stone to old sculptures of Lladró and do a promotion in China incising brand value, adaptation to the market, made more attractive the products and seal it a bit more expensive that the original piece.
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6.4.6 CRM – Customer Relationship Management Maintaining customer loyalty:
Offering quality and absolute perfection.
Personalized emails making the customer feel special and informing of all our news.
Increase the value:
Creating New collections inspired by the culture and customer demand: New ideas for products: o Traditional pot tea Chinese. o Traditional women of high society Chinese. o Female items for the bedroom dresser accessories (boxes, mirrors , jewels box, compacts ...). o Collection of sea pieces - mixing oysters, shells or shells with Asian women o Animals of mythology - more fish designs not only carp, for example Gold fish or more different monkeys (I only find one white baby monkey design) based in the famous Chinese legends, the story of the Monkey King. o Collection of Asian porcelain dolls. o Traditional table Asian games or chess. o Chinese letters for the wall. o A collection with Asian woman’s with different Asian fruits. o Music box collections. o Collection for popular books.
Redesign products – made from traditional pieces, pieces more easy to put in modern houses, most of them decorated with IKEA furniture, without losing its exclusivity, its luxury design and quality.
Merchandising - Create small booklets that explain step by step our manufacturing process, promoting handmade products and have it in our boutiques - with examples of the colors, porcelain quality and our designs so popular in Asia Pacific / Also visual imagines of manufacturing process, artist and designer, Lladró brothers and history.
Do a “Joint Venture” with a contemporaneous Chinese artist and designer Creating events, promotions and a whole marketing campaign around. Shaomin Shen or Jacky Tsai (http://www.jackytsai.com/portfolio/) 17
6.4.7 Media Plan
Blog and Bloggers: where we can explained where we have been, our new designs, new ideas, elaboration and distribution process… It is ideally for antique dealers and collectors. Contact with luxury art blogger and invited then to our events, promotions and to follow us. Share information without cost.
Facebook or Twitter: focus in the brand, we will publish our new events, promotions, offers, products and above all Lladró in general. Add some information about the artist their opinions and feeling. It is ideal to reach all our target audience and attract new customers in order to have feedback from our customers and keep their following us.
Linkedin: Know about professional opinions, give information about promotions or open a debate to get feedback about our customer or possible client. Put information about our company and keep upgrade the page with all the news.
Instagram: This social media is becoming a core platform for brands to engage with consumers. It gains to us a deeper understanding of guests’ interests providing visual image of our brand, process and work through photographers and briefing text.
Pinterest: It is an online pinboard to collect and share what inspires you. Through Pinterest we can create a successful luxury networking, create a brand based on inspirational values and ever-lasting quality, and made people like our pass and previous collection, our brand, our designer and work.
7. Objectives and strategies 2014 of Lladró – Future My proposal for 2014 is based in a process of continuous improvement and increased activity by 35%. Please see below objectives and strategies: Increase the value of the brand and establish Lladró as lifestyle brand. Focus in products for each market, in this case Asia Pacific Market. Development of old products – refreshing. Customer Loyalty and brand awareness.
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Expansions of market share and openness to new countries/cities and reorganizing the structure in unproductive market – New boutiques opens and try to push the ones opened in unproductive markets. Increase sales and benefits of Lladró, including sales of diversification products. Decrease stock of products. Increase customer participation.
See below strategies for 2014: Advertising and communication campaign (Promotion, publicity, CRM, Marketing direct…). Promote the sale of products online. Promotions, events & fairs and social media plan. Create new collections/pieces contemporaneous and moderns style , refreshing the brand, revaluing and diversification products. Create limited editions for collectors at a slightly higher price (increasing market share and profits) and focus in a luxury gamma (very appreciate in the Asian market). Made a contemporaneous marketing campaign based mix of culture, design models and artists name/signature – with Spanish artist in Asian Pacific market inspiration culture and some Chinese contemporaneous artist mixing Lladró Style. Market Research about new business opportunities – Lladró need to be only where its brand can be the best. With emerging economies in Asia Lladró is well placed to move into the luxury markets and it is important to conduct localised reports on specific target countries to fully understand the market before establishing opportunities. In conclusion I feel that Although Lladró is well placed in the market, it will benefit from a fresh marketing strategy, focusing in the demand of Asian clients.
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