Premium Products

1. Introduction

This report will discuss the experience of use of a premium product, Chanel N°5, the perfume. Referring to a premium product means the brand of it. As it is well known each product has a unique name, design, style, words, symbols that make it different from another product in the eyes of the customer. Moreover by using brands people often establish their status. Some of the needs of this purchase were its ability to change the mood only of its smell, reminds memories and gives confidence. Some of the wants were the nice smell and the long lasting.

2. Decision-Making Process

2.1 PROBLEM RECOGNITION

Making the decision of purchasing the perfume was quite easy due to the promotion of the product. Before making the purchase it is needed to recognize the problem which was the lack of perfume. In fact this is not a problem but a psychological need, a feeling that should be satisfied. A feeling which was born due to the marketing mix which makes the want of the customer seems like a need or problem. With no perfume is it sure that people can survive but thanks to advertisements it looks like a big problem.

2.2 INFORMATION SEARCH AND THE INFLUENCING FACTORS

After noticed the problem the next step is collecting and evaluating the information. There were also the environmental factors which affected the perfume purchase. First of all from the individual influences was the motivation to buy CHANEL N°5 as a result of the advertisement in which Marilyn Monroe when asked what wears to bed replied “Few drops of CHANEL N°5”. Apart from this another influencing factor was from the group influences the culture and friends.

3. 4Ps of Marketing

The 4Ps of marketing are the product, promotion, price, and place. To begin with product this can be both of tangible, like the product itself or intangible like the