It is durable and water-tight so that it can also be convenient for outdoor recreational activities as well. LuxePak's vision is to provide a high-quality and sophisticated luggage staple that "Makes Traveling Easy."
Breaking into the luxury travel industry as an entirely new brand comes with a few challenges. The FiG Team is confident in our ability to provide the insights that will inform a strong product positioning strategy so that LuxePak can grow their customer base.
Challenge: Big Names, Big Budgets
Solution: According to P&S Market Research, "The global luggage market is expected to reach $43.4 Billion by 2020." FiG will deliver online and offline collateral to position and differentiate LuxePaks value proposition in this saturated market. This collateral will cultivate online sales, and develop channel partners as well as retail distributors.
Challenge: Established Industry, Established Habits
Solution: Travelers have their favorite go-to travel items and hospitality services, but there is still a lot of opportunity in the market. In fact, the US Travel Association estimates that "Direct spending by residential and international travelers in the US average $42.6 billion a day, $108.1 million an hour, $1.8 million a minute and $30,033 a second." Much of those dollars are dedicated to international travel as businesses continue to expand into global markets, prompting business travelers, and economic factors make traveling abroad cheaper for tourists. As the LuxePak product is ideal for international travel, LuxePak has a huge opportunity. To make the most of it, FiG will be employing differentiation, segmentation and nano-targeting to reel in the desired customer base.
Challenge: Different Generations, Different Behaviors
Solution: The Millennial generation, born from 1981-1998, are experienced-based consumers who value experiences over possessions. They would sooner spend $5,000 on a month-long adventure in New Zealand than buy a nicer car. To succeed with Millennials, FiG will translate how LuxePak will factor into their enjoyment of their journey.
The older generations such as Gen X (1965-1980) and the Baby Boomers (1946-1964) look for the long term value products provide. These generations need to feel they are investing in something reliable. Since trust increases with face-to-face interactions, an authentic, credible brand voice will appeal to these groups.
FiG is on a mission to develop marketing solutions to a unique industry while building a brand from scratch. The integrity of LuxePak will translate cohesively throughout the entire premise of business.
First Stop: Company Logo
A company's logo stands at the forefront of a brand's identity. FiG has created an elegant logo for LuxePak that captures the sophistication of the product and brand. The logo will be incorporated into the product as well as the e-commerce website, business cards, and packaging.
Second Stop: Product Packaging Research
FiG is involved in the manufacturing of LuxePak as well. We provided color and texture research to inform the product design. We pinpointed the precise colors and textures that communicate high-quality and glamor to luxury-seeking consumers and the insights from this research are being incorporated into the final product design.
Third Stop: Actionable Website
FiG will create a fully integrated e-commerce website that conveys the brand value while capturing consumer sales and wholesale sale leads. The website will convey a high-end feel with copy and visuals that speak the luxury language.
LuxePak will enter the travel marketplace with a stellar logo, stunning website, and a strategic integrated marketing plan to build their sales as they build their brand equity. Stay tuned for the product launch and the case study of how our efforts performed.
Have a new product? Contact FiG Advertising & Marketing today to discuss how we can help you determine your target markets and communicate your product’s value to them.