Consumer Behavior
Flagship brand store
In any business retail, symbols are exceptionally important because they determine consumer behavior in deciding on purchasing the goods and services of a particular organization. As the brightest diamond in the crown of a retailer, the flagship store has a significant role to play in the brand strategy of a company. Usually, the most impressive and the largest in the retail chain, it is, nevertheless, not just about being a better looking and a larger store. A flagship brand store is a platform for the brand (Sonnenburg & Baker, 2013). Contrary to other stores in the retail chain, the main purpose of a flagship brand store is not to generate profits. Rather, it has a certain role to play in gaining the attention to the brand, promoting the status of its brand, and setting itself against its competitors in the market or industry. A flagship brand store states clearly that it is bold, beautiful, big, and full of itself. It is what the brand is all about and what it is about.
The shopping is more of shopping for pleasure and leisure and less on shopping for purpose. The flagship brand store offers an opportunity for potential customers to have an experience of the brand in a memorable, innovative, and inventive manner, therefore, increasing the brand awareness on an individual level. In addition, the flagship store is the most flexible in the retail chain (Stevenson, 2013). Besides making a powerful brand declaration, it may be used to experiment the market, for trial new products and services, re-position the brand, act as host venue for a number of public relations activities, or evaluate the concepts of the retail store design.
The flagship brand store that I attended recently creates symbolic meanings. It had all it takes to define what a flagship brand store really is. For instance, it had all the necessary elements that are common in almost all successful flagships across the world. It was the largest in the chain of retail and it was located in an impressive location. The flagship had also stocked the retail chain’s full range of merchandise and was inspirational, experimental and opulent. In addition, it had experimental and visual embodiment of the brand and had attention to detail and world class design execution. The flagship had the best of everything, and this is what it takes in a flagship. Retail store layout and design was luxuriously spacious and the flagship presented the best products on display, some that were unique to the flagship brand store. In flagships, merchandising is usually inventive and innovative with stock kept at optimal levels, perfect lighting, stunning window display, customer service is the priority just like in any other business, and the store is thoroughly tidy and spotlessly clean (Stevenson, 2013). This one was no exception. These attributes ensure that the environment is appealing and are symbols of marketing and promotion.
The choice of the location of the flagship has a symbolic meaning in business. Choosing an appropriate location means that the brand is likely to sell more when compared to an area where a majority of potential customers do not have access to. The choice of the location depends on a number of factors such as whether to open the flagship in affluent and prime catchment area or a location with high football. In particular impressive areas, a whole location may be seen as flagship or a host to various flagship brand stores. One’s decision on the flagship location will eventually be determined by financial considerations, brand strategy objectives, and brand identity. For instance, for a top end international retailer to attain credibility it should have a retail store in one of shopping capitals in the world that deals exclusively with fashion such as Saint Honore, located in Paris and Madison Avenue situated in New York. This shows a brand’s status to the external world and draws the attention of tourists while also providing uncompetitive access to the fashion buyers of the world. In contrast, a high football location and one of tourist hot spots in London, Leicester Square is appropriate for M&M’s fun brand. This matches the vibrancy of the brand’s surrounding with an energetic and colorful retail environment.
The building that one chooses to host a flagship also plays a significant role in business. For instance, if one wants to say something specific about the brand or show a sense of heritage, it is advisable to choose a historic building. A startling retail store layout and design immediately gains the attention of people and it is a vital element of a flagship brand store, although it is in the joined use of both experiential and aesthetic components where most of the successful flagships stand out (Sonnenburg & Baker, 2013). Offering something distinct or unique, one that allows for the interaction between customers and the brand on all levels creates an emotional reaction and draws attention. The most excellent flagships provide customers with the opportunity to have fun, be inspired, get entertained, free their thoughts and imaginations, be awe-struck, relax, socialize, and get pampered (Dolbec & Chebat, 2013). All these are what create publicity. The summit of success for flagships is to be a national and global tourist destination. This means that publicity can make this take place.
Brands that seek to move into a new location or country for its first time frequently bring the brand by a flagship means. This is because a flagship enhances a grand entry of the brand. It also stimulates interest and evaluates the response of the country (Taylor, 2004). A flagship brand store creates an instant statement on the brand’s status while demonstrating the commitment and confidence of the brand to the country. It also serves as a hub for the creation of relations with suppliers, distributors, customers, franchise partners, landlords, and investors. Flagships attract instant attention of the media. For brands that seek to develop relationships with distributors and wholesalers, the publicity that flagship creates can lead to sealing of contracts, therefore, producing valuable profits and income (Doyle et al., 2008). Following the growth and development in global visitors in the recent years, Moscow and Shanghai have evolved as major locations of flagship stores.
For a majority of the biggest brands in retail, I believe that flagships stores are an important component of their strategy. Whereas flagships may not essentially result in huge financial returns appropriate for an organization’s size and status, the business benefit that flagships provide in relation to marketing position, customer involvement, and brand awareness can offer essential long term worth or value. The assurance in flagship brand stores, therefore, remains powerful (King, 2012). For this reason, because of the growth and development of the business world, brands across the world are resorting to flagship stores to seek new markets and attention of customers from other regions. In the contemporary competitive world, each company wants to show its products and services in the most appealing manner to customers. As impressive new retail markets develop and emerge across the globe, the brand’s interest in flagships will still continue. Guaranteeing the accomplishment of a brand’s flagship store implies reducing potential risks and threats, choosing a venue and a location that matches the brand strategy, and developing a completely practical concept of store design, which optimizes involvement with the brand, and adjusting the brand’s requirements in order to meet a certain market’s expectations. Doing ‘homework’ is essential. Research is important before the implementation of any new flagship brand store. Some of the most successful flagships are known for intensive research and development in the market prior to the implementation of any flagship. This is one way of comprehending how the system entirely works.
As stated, business or retail environments must have symbolic meanings especially for potential customers and investors. In my opinion, the symbolic meanings explained are exceptionally effective in enhancing the entry of a brand in to particular markets (Okonkwo, 2007). Each organization that chooses to promote and advertise its brand using a flagship brand store should ensure that the elements of a flagship are clearly represented in order for customers to understand the symbolic meanings. It is important to note that flagship brand stores may have negative effects of risks. Whereas flagships can have extremely positive effects on an organization’s brand, raising a brand’s profile, and serving as a form of status symbol of the brand, its implementation is not always without some threats (Mikunda, 2008). All about a flagship brand store is more costly, the store layout and design, the daily running and property rental costs. It is noted that flagship stores have higher wear and tear as compared to other stores because of footfall and because they need more frequent refurbishment and re-design in order to remain innovative, inventive, and fresh. Supposing that a majority of flagship brand stores may not be self-supporting, the implications on finances are higher (Messedat, 2007).
Flagship brand stores can lead to confusion especially if the feel and look of the flagship store varies to other people in the chain. This leads to customer alienation, some who may not be able to relate or engage with the new identity of the flagship store. Contrary, customers can have disappointment or frustration feelings towards other stores in the business retail chain when they fail to meet similar standards as the store (Haenlein & Kaplan, 2009). In most cases, flagship stores may not work. While the flagship may be completely impressive, it may fail to be completely functional. For instance, this is evident in poor traffic flow, limited visibility because of architectural or technical blind spots, or customer alienation on doorsteps because of confusion or absence of clarity in the direction of the store. However, the advantages that flagships offer to organizations are tremendous, and firms should ensure that their flagships are outstanding and functional at the same time. This way, they will be able to attain the goals and objectives of the flagship.
References
King, B. (2012). Bank 3.0: Why Banking Is No Longer Somewhere You Go But Something You Do. New York: Wiley.
Messedat, J. (2007). Best designed flagship stores: Shops-showrooms-brand centers = Geschäfte-Showrooms-Markenwelten. Ludwigsburg: AV Edition.
Mikunda, C. (2008). Brand lands, hot spots & cool spaces: Welcome to the third place and the total marketing experience. London: Kogan Page.
Okonkwo, U. (2007). Luxury Fashion Branding: Trends, Tactics, Techniques. New York: Palgrave Macmillan.
Sonnenburg, S., & Baker, L. (2013). Branded spaces: Experience enactments and entanglements. Wiesbaden: Springer VS.
Stevenson, D. (2013). The city. Cambridge, UK: Polity.
Taylor, D. (2004). Brand Stretch: Why 1 in 2 Extensions Fail, and How to Beat the Odds. Chichester: John Wiley & Sons.
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