Similarities in Branding: Richard Mille vs. Function-Oriented Watches

This essay explores the branding strategies employed by prestige-oriented brands like Richard Mille and function-oriented brands such as Daniel Wellington in the watch market. It analyzes the similarities in their branding approaches, focusing on how both types of brands cater to customer needs and perceptions. The essay highlights that while prestige brands emphasize elegance and exclusivity, function-oriented brands prioritize practicality and reliability. Despite these differences, both types of brands share common ground in ensuring quality, building customer loyalty, and understanding target customer demands. Ultimately, the essay concludes that effective branding, regardless of whether it is prestige or function-driven, plays a crucial role in satisfying customer needs and establishing a strong market presence. Desklib provides access to this and other solved assignments for students.

Running head: BRANDING PRESTIGE
BRANDING PRESTIGE
Name of the student
Name of the university
Author note

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Brand Prestige and functioning
The branding that is being undertaken by Richard Mille is based on the functionality of
the watch based on the utilization of the high tech materials and the most appropriate design to
fit in the requirements of the customers who are after the prestige related aspects of the brands.
The elegant and classic looks of the watch has attracted the attention of the fashion conscious
customers. The watch is designed in Sweden with a superior classic look, which helps in
determining the brand. The proper functioning of the organization is based on the understanding
of the needs of the customers to fulfill their criteria of adding the value of prestige which is
determined by the product that is being used by the same (Hanzaee and Taghipourian 2012).
Therefore, the branding of the product s is again based on the choices of the customers where the
customers identify the brand as a sign of the elegance. On the other hand, the branding also
ensures the customers of the proper services and the functioning of the commodity that is being
chosen by the customers. The branding of prestige oriented products and the branding of
function-oriented products in today’s world is based on the choice of the customer and the
manner in which the customers perceives the product available in the market. It is kind of
transferred epithet that affects the choice of the product made by the customers, which is
determined by the branding that is used by the organization in the market (Esmaeilpour 2015).
On the other hand, the branding of the Daniel Wellington Watch is based on the factors
of the functionality that is a major concern for the customers. The functionality of the watch has
helped in attracting the attention of the customers in the market (Theng So, Grant Parsons and
Yap 2013). The functioning of the watch has helped in determining the different aspects of the
customer requirements. The branding of the watch is based on creating awareness among the
customers. It has helped in understanding the different aspects of the change that is required to

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be undertaken by the manufacturers in order to adhere to the needs of the customers in the
market (Viktoria Rampl and Kenning 2014). On the other hand, the different perspectives of the
customers adds to the loyalty of the same in the market structure (Vigneron and Johnson 2017).
The customer loyalty pays a good price for the organization as it helps in bringing about
improvements in the product that is manufactured by the organization. The company produces its
products, which is based on the requirements of the customers based on the functioning of the
product (Keller 2017).
The similarity of the branding of the two most elegant watch manufacturers is based on
the assurance of the quality. Watch is a passion for the admirers therefore, branding of the
watches play an important role in satisfying the emotional needs of the customer. On the other
hand, the elegance of the Richard Mille watch and the sporty functionality of the Daniel
Wellington Watch is based on attracting the target customers. Branding thereby plays a major
role in serving the quality products and services to the requirements of the customers. The
similarities in the branding of the watches help in identifying the various demands of the
customer and thereby reaching out to the target groups.

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References
Esmaeilpour, F., 2015. The role of functional and symbolic brand associations on brand loyalty:
A study on luxury brands. Journal of Fashion Marketing and Management, 19(4), pp.467-484.
Hanzaee, K.H. and Taghipourian, M.J., 2012. The effects of brand credibility and prestige on
consumers purchase intention in low and high product involvement. Journal of Basic and
Applied Scientific Research, 2(2), pp.1281-1291.
Keller, K.L., 2017. Managing the growth tradeoff: Challenges and opportunities in luxury
branding. In Advances in Luxury Brand Management (pp. 179-198). Palgrave Macmillan, Cham.
Theng So, J., Grant Parsons, A. and Yap, S.F., 2013. Corporate branding, emotional attachment
and brand loyalty: the case of luxury fashion branding. Journal of Fashion Marketing and
Management: An International Journal, 17(4), pp.403-423.
Vigneron, F. and Johnson, L.W., 2017. Measuring perceptions of brand luxury. In Advances in
Luxury Brand Management(pp. 199-234). Palgrave Macmillan, Cham.
Viktoria Rampl, L. and Kenning, P., 2014. Employer brand trust and affect: linking brand
personality to employer brand attractiveness. European Journal of Marketing, 48(1/2), pp.218-
236.