LUXURY INGREDIENTS

L U X U R Y INGREDIENTS

BRAND PURPOSE Bulgari’s original brand purpose was about bringing joy and happiness to the women who wore their jewels and ultimately celebrating the Roman culture. This strong purpose is what has allowed the brand to successfully extend into the luxury travel and hospitality sector. The brand DNA is rooted in bringing the Italian dolce vita lifestyle to their customers, which is all about the original brand purpose; celebration, joy, and happiness. The brand purpose will continue to build brand equity through excellence, uniqueness and artistic expression.

Excellence The excellence of the brand stems from the ability to deliver top of the line service and experiences to its customers.

Uniqueness The uniqueness of Bulgari Hotels & Resorts can be attributed to the implementation of customization and personalization of services towards its guests. As well as the localization of properties that become emblematic to their geography for both travelers and locals alike.

Artistic Expression Bulgari has contributed greatly to the contemporary art world. This is seen throughout the jewelry, in-store design, and beauty and grandeur of the hotels & resorts. The rich brand heritage and aesthetic value are instilled into everything that Bulgari produces.

PRODUCT Bulgari and its strong rich heritage to the Roman culture provide excellent craftsmanship and service for its customers. This leads to high brand salience and brand density through the brand’s extension into the luxury hospitality sector, building brand equity for Bulgari. Bulgari Hotels & Resorts will continue to build brand equity through customization and personalization, as a source of sublime and multisensory aesthetic experience and natural scarcity.

Customization & Personalization Bulgari Hotels & Resorts implements customization and personalization into each one of its properties in order to fill the aesthetic, functional, symbolic and ephemeral values of its customers. The process of tailoring to the needs and values of each consumer begins before they arrive.

Source of sublime and multisensory aesthetic experience Each visit to a location for either a guest or local is a source of sublime and multisensory experience complete with fine dining, top of the line spa, superior customer service, luxurious rooms & suites, and localization of activities.

Natural Scarcity The natural scarcity of the hotels and resorts aim to provide discreet and private locations for guests or locals.

PRICING Bulgari Hotels & Resorts will implement a dynamic pricing strategy for its opening in St. Moritz, Capri and St. Barths because of the seasonality of the locations. Setting a benchmark price of at least $1,500 USD per night will help reinstate who we are in the luxury hospitality market. During the high season, our competitors have an average price of $1,000 to $1,2000 USD per night. Therefore, our higher pricing strategy helps build brand equity for Bulgari because of the Veblen effect.

Veblen Effect The Veblen effect explains the price and quality of a product. The higher the price, the higher the perceived quality. Pricing our rooms at $1,500 USD per night positions the brand as a superior choice in comparison to our competitors.

PLACEMENT In order for the placement of each of our future resorts to be successful, we plan to use top of the line travel concierge services, online travel agents and preferably the Bulgari Hotels & Resorts website. This multi-channel placement strategy will help Bulgari build brand equity through the principle of cumulative attractiveness, travel platforms, and quality sales personnel.

Principle of Cumulative Attractiveness The principle of cumulative attractiveness explains how similar brands are located in close proximity to each other. St Moritz, Capri and St. Barths are strategic locations that help build brand equity for Bulgari because they can be characterized by luxury and extravagant lifestyle. Nevertheless, our strong brand presence will distinguish us from our competitors.

Travel Concierge Services Our partnership with some of the most prestigious and exclusive travel concierge services such as; Quintessentially, Knightsbridge Circle and Jetsetter, among others will guarantee our resorts clientele. While online travel agents will make sure that we will be able to attract more consumers due to our positive brand associations.

Direct Booking Promotes online booking directly through the Bulgari Hotels & Resorts website.

Quality Sales Personnel Top quality staff is imperative for the placement of our resorts because they can help guarantee positive consumer experiences which leads to repeat customers in our other hotel locations.

Lifestyle Services Lifestyle services will instigate relationships with luxury lifestyle services such as American Express Black Card concierge.

PROMOTION Bulgari Hotels & Resorts, as an established connoisseur brand, has specific objectives and codes which apply to how we will promote our resorts. We will inform our customers on our excellence, uniqueness and artistic expression. As well as our purpose of providing joy, happiness, and the ultimate Italian dolce vita. We will strive to showcase our rich Italian heritage while focusing on meeting our customer’s aesthetic, symbolic, functional, and ephemeral values. Our promotion strategy will include influencers, travel enthusiasts, and travel magazines.

Social Media We want to utilize different social media platforms to demonstrate our excellence, uniqueness, and artistic expression. Through these platforms we can also target different types of consumer like the millennial luxury explorer and the mature luxury native.

PR Initiatives Our PR team will ensure that we are featured in travel magazines and sites that we identify with for promotional purposes include; Conde Nast, Travel & Leisure, Vogue, Vanity Fair, Departures, Saveur, and GQ. This wide range of magazines and sites appeal to consumers of different backgrounds while remaining in line with our brand image. As well as offering our hotel for important celebratory events like weddings.

PEOPLE The people that represent Bulgari Hotels & Resorts both inside and outside of the brand will help us build brand equity by representing our true identity of tailored customer service and rich Italian brand heritage

Inside the Organization Inside the organization, the brand is represented by everyone - from the CEO, to the chauffeur who picks up the guest at the airport, to the doorman that greets them upon their arrival. The Bulgari staff are the face of the brand and they play a significant role in representing the resort’s purpose. The excellent level of training and superior customer service are key to building brand equity as it will guarantee that each customer receives unparalleled service that is incomparable to that of any other hotel. This includes greeting guests by their name and assigning personnel to each guest in order to anticipate their needs.

Outside the Organization Outside the organization, there are people that have helped the brand acquire positive brand awareness through associations. The Bulgari family plays a key role in preserving the rich Italian heritage as they represent the epitome of the Bulgari brand. This is also acquired through the unique architectural designs of Antonio Citterio Patricia Viel and Partners who are employed to build each of the Bulgari hotels. As well as top Italian chef, Niko Romito, who is the mastermind behind the Italian restaurants inside the Bulgari Hotels. Bulgari Hotels & Resorts ultimately represents the best of Italian culture in every aspect of their hospitality. Genuine endorsements from celebrities through PR initiatives such as, Tom Brady, Giselle Bundchen, the Beckham family, Anna Wintour, and Chiara Ferragni.

Travel enthusiasts are a very crucial part of the promotion of our resorts because these target customers are the opinion leaders which will recommend our hotels to others in their niche communities. The travel enthusiasts will bring similar types of consumers which typically travel at least four times a year, desire unique and chic locations, and are looking to experience different places.