The multiple explanations and understanding of the term 'brand' have created troubles in making a 'grand theory' for brands (i21). This is of brands has been continually changing as new understandings of the word emerge and replace the aged understandings (i21). While a development focused brand theory centered on the creation process, especially the look, logo and advertising campaigns, the consumption focused brand theory stresses on the interpretation of brands by the clients (i3). Presently the brand theory has shifted from being production-centered, by differentiating products from its competitors, to becoming consumption-centered, by differentiating consumers from each other (i3) into different brand tribes.
According to Aaker (1993 in 2), a brand signifies a name, indication, symbol, design or a mixture of such elements which distinctively identify and differentiate particular products or services from others. However, a brandname is specific from a company's name or brand (i2) and unlike a trademark, which is a tangible item of intellectual property, a brandname additionally comes with the intangibles like identification, personality, organizations and meanings; for example, Pepsi is portrayed as the "choice of new era" recommending Coca-Cola as an historical brand (i2, i3). In present situation, different types of brands are present, whether as family brands like Heinz, where each product is available under an individual name or as standalone brands as in case of Unilever (i2) where each brand shows an individual personal information. Nevertheless, the purpose of brands is to build up interactions with customers by creating value propositions related to efficient, mental or self-expressive advantages (Aaker, 1996 in 2). Today brands are known as assets on balance mattress sheets similar to the values assigned to tangible properties.
Private labels are the products produced under a retailer's accounts and sold under the retailer's brand or another brands through specific retail chains or merchants (pl2). Such products that are natural extensions of other products are ideal private-label products and they can build value and reputation from the customers. Private label products are not often publicized and cheaper than the similar top quality products as the entrance cost of such products at the sales factors are taken away. Hence private labels expect significant importance in times of monetary downturns. However, they have also been associated with low quality. But the situation is changing with sellers offering top quality private label brands, like the Tesco's finest range, which remain competitive immediately with the countrywide brands on the basis of their quality (private label1) and are now thought to offer quality value (pl2). Nevertheless, consumer purchase tendencies for private label product is is commonly product specific (Livesay and Lennon, 1978, in pl2).
Brand leveraging is an activity which aims at reinforcing a brandname by linking it to another person, place, thing or brand (i5). One popular way has been associating a brand with celebrities. Lots of the popular fragrances in UK are associated with celebrities like Kate Moss, David & Victoria Beckham (i8). Calvin Klein in addition has been using a similar technique to leverage its brand and has currently associated with Eva Mendes to market its fragrance brand 'Obsession' (i13). However source reliability and country of origin effect have significant affect in such strategy (i5) and linking with UK super star who matches the personality of the brand could also be used to leverage Calvin Klein in UK. Apart from celebrities Calvin Klein can also utilize its range of clothes and accessories to leverage its new fragrance brands like 'Obsession' by linking it with picked range of high grade class clothes and accessories. Over the past many years, Calvin Klein has produced several flakers to Eternity, including Eternity Rose Blush and Eternity purple Orchid; all those targeted for women from 30- to- 45 yrs. old and Eternity Moment targeted for young women. Brand extensions into other product classes (Aaker, 1996) may also be used to Leverage Calvin Klein.
Successful brands enable organizations to build stable, long-term demand and enable these to build and carry better margins than either commodities or unsuccessful brands. Successful brand building helps profitability with the addition of value that entices customers to buy a product(Leslie de Chernatony & Malcolm 2003:18). Calvin Klein satisfies these requirements of success as its fragrances are well perceived by customers, which shows in the market stocks and performance figures of Calvin Klein as obvious in the business analysis. As a brand Calvin Klein demonstrates a sense of style and superior quality. However, the rival analysis suggests that other popular scent brands from L'Oreal and even from Coty may create some issues for Calvin Klein. Also, as visible in the client research, private label scent brands do not present a substantial competition for Calvin Klein.
Calvin Klein is one of the best and well established players in the UK fragrance market being recognized by Coty. While private label fragrances do not seem to be to be a lot of a menace for Calvin Klein, other brands from Procter and Gamble, L'Oreal and even Coty do present a competition for Calvin Klein. While product differentiation, brand extensions and super star endorsements can help to leverage the merchandise, getting into niche fragrance segments, botanical and organic perfume market, along with concentrating on the 15-34 calendar year age group segment may offer future options for Calvin Klein. However, such measures have to be in accordance with the brand's personality and organizations with its aim for customers.
