BBMK504 Brand Management: Patek Phillipe Brand Element Analysis

This report analyzes Patek Phillipe's brand management strategies, focusing on brand elements, brand awareness, brand loyalty, and perceived quality. It examines the company's background, its various brands (Nautilus, Twenty 4, etc.), logos, slogans, and packaging. The report further explores the factors contributing to Patek Phillipe's brand value, including expertise, tradition, quality, and family history. It assesses the brand's strengths and weaknesses, linking them to consumer psychology principles such as attention, interest, desire, and action. The conclusion emphasizes the importance of research in identifying consumer psychological characteristics for effective brand management. The report references various marketing and consumer behavior studies to support its analysis.

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Executive Summary
Brand management strategies aims at promoting the image of the brand and marketing it
to the market target audience. Patek Phillipe is a leading luxurious watch making company. Its
brand is the most important in attracting a lot of people to take it and people with a high net
worth. The books on branding contain a huge number of recipes for how to turn a brand into a
brand, how to create a successful brand from scratch and maintain its viability in highly
competitive markets for many years. Some companies, when creating these "success
prescriptions", use their own theoretical approaches and pretend to be original, others do not hide
their adherence to the theories of their more successful colleagues. However, it is obvious that all
the recommendations in the field of branding are designed to help specialists answer one single
question: how to make the consumer allocate a product / service from a group of similar goods /
services, remember and want (and ideally desire) use it .
Introduction
Patek Phillipe has used brand management strategies to ensure that is has created
awareness about all its products. The objectives of brand management is to create brand loyalty,
brand identity, brand awareness and perceived quality. it is the objective of every brand
including Patek Phillipe to show itself as the leadinghigh end production company in the world
and set itself as the best luxury watch manufacturing company (Baker, 2014).
Background of the company
Patek Phillipe Company is a luxury swiss watch manufacturing company that is globally
acclaimed. Its marketing strategy has led it to marketing dominance in the 19th & 20th century. It

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has also bought out and manufactured very many other luxury watch brands (Fionda, and
Moore, 2009). Its strategy has been sponsoring and endorsing big celebrities with a big brand.
Television advertisement has been among its best brand marketing strategy but due to its
commercial outlooks it has cut down on print advertisement. Traditionally in science under the
name of brand management there are two conflicting approaches.
Patek Phillippe Brands
The swiss master watchmaker has been in business since 1839. It has produced unique
classic and heritage designs which are meant for the rich, the super rich and the celebrities. The
brands it makes includes; Nautilus, Twenty 4, Nautilus, aquanant, complications, gondola,
calatrava, golden ellipse and Grand complications.
Logos and URLs
https://www.patek.com/en/collection/new-models-2018
https://search.yahoo.com/yhs/search;_ylt=AwrEwNcBDJpbGrkADF02nIlQ?
p=Patek+Phillipe+logo&hsimp=yhs-newtab&hspart=Lkry&type=YHS_SPM_52932&fr=yhs-
Lkry-newta

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Slogans and jingles
Slogans and jingles make up the most in Patek Phillipe products. Some of the slogans includes
watch my diamond. As a luxury watch making company that is associated with affluence,
diamonds and gold make the products. Some of the products includes Rose gold.
Packaging
In packaging, the company packages its watches in exquisite fashion wrapped in a watch box
that is shiny and attractive.
Symbols
The swiss watch maker company uses One approach focuses on the consumer and
focuses primarily on the relationships that arise between the consumer and the brand, on the
emotions, motivations and values that the brand transmits and perceives the consumer. This
approach can be called socio-psychological. Another approach, measuring the value of brands in
any kind of national currencies, is economic in its essence. Both approaches have fierce
supporters (Kotabe and Helsen, 2014).

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What makes the Watches brand so valuable
Regarded as among the top in swiss watch maker companies; Patek Phillipe has seven
reasons why the brand is so valuable
 Expertise- it has mastered the art of valuable watch making
 Tradition- it has a rich history of 177 years since it was founded
 Vision for the future- it is not bound by its past as it strives for an even successful
future
 Quality- the rich are attracted to quality and they are loyal to that
 Family history and family owned
 Value- due to its value, the watch does not depreciate. Infact the older it gets the
more its valued.
 Perfect decoration and elegance
Brands strength and weaknesses against each building block of the model
Patek Phillipe strengths in marketing include the fact that its brand is known worldwide.
As a leading company in the fortune 500, it has been able to show its dominance in the industry
through manufacturing quality watches with an elegant posture. Thus, there is every reason to
believe that branding, originally conceived in the mainstream of the economy (or rather, in the
mainstream of marketing as part of the economy), but essentially based on the laws of consumer
psychology, is primarily a derivative of consumer psychology and only then (Luxton et al, 2015).
Specific components of consumer psychology that need to be considered in brand management

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Brand management seeks to seek attention, interest, desire, action - attention, interest, desire,
action), despite its extreme simplicity, is also true for brand management. In branding, it is also
important to attract attention, generate interest, cause a desire to get the desired product / service,
sold under a particular brand, and finally induce the consumer to make a purchase (Posner et
al,2015).
Patek Philippe Geneve Logo
However, this formula only ascertains the sequence of the desired results, without indicating how
these results can be achieved. Since then, a lot has changed, and teams of professionals of the
highest class - psychologists, sociologists, marketers and designers - work on the market of
consulting in the field of strategic and operational branding over ways to attract attention and,
ultimately, motivation to buy (Rust et al,2004).

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Conclusion
For Patek Phillipe branding strategy,The most reliable "means of insurance" from
obtaining insufficiently effective or simply unsuitable for the further use of the results at this
stage is research using loyalty or brand advertisement (participants of the group, of course,
should be representatives of the target audiences of interest to you). (Solomon,and Polegato,
2014).
Methods for identifying the psychological characteristics of consumers and the technology of
applying this knowledge in Patek Phillipe brand management practice. At the present moment,
social and political psychology has reached such heights that the features of emotional-sensory,
need-motivational, value spheres, as well as about the laws of perception of consumers of
different age and social groups, almost everyone knows (Yu, et al, 2015).
References
Baker, M.J., 2014. Marketing strategy and management. Macmillan International Higher
Education.
Fionda, A.M. and Moore, C.M., 2009. The anatomy of the luxury fashion brand. Journal of
Brand Management, 16(5-6), pp.347-363.
Kotabe, M. and Helsen, K., 2014. Global marketing management.
Luxton, S., Reid, M. and Mavondo, F., 2015. Integrated marketing communication capability
and brand performance. Journal of Advertising, 44(1), pp.37-46.

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Posner, H., Williams, S. and Posner, H., 2015. Marketing fashion: strategy, branding and
promotion. Laurence King Publishing.
Rust, R.T., Lemon, K.N. and Zeithaml, V.A., 2004. Return on marketing: Using customer equity
to focus marketing strategy. Journal of marketing, 68(1), pp.109-127.
Solomon, M.R., Dahl, D.W., White, K., Zaichkowsky, J.L. and Polegato, R., 2014. Consumer
behavior: Buying, having, and being (Vol. 10). London: Pearson.
Yu, D., Weijiang, W., Zhenggang, L. and Wensheng, L., 2015. The Relationship between
Dynamic Capability of Enterprises and Brand Marketing Strategies: Mediating Role of
Absorptive Capacity——Taking High-tech SMEs in Xinjiang as an Example. Finance &
Economics of Xinjiang, 1, p.004.