Could there be a luxury brand originating from the Czech Republic? The case of Czech watchmaker manufacture Prim 1949

Petr Král

Central European Business Review, 2013, vol. 2013, issue 3, 15-21

Abstract: Central Europe, due to its history, is not perceived as a region from which a luxury brand could originate, rather luxury is traditionally connected to Western European countries (such as France, Italy or Switzerland). Country of origin (COO) plays an important role in the perception of any brand but for luxury brands the COO is usually even more important than for mainstream brands because it is an important part of the brand's heritage. But despite their unfavorable origin, in the last few years, we can observe that brands which originate from the CEE region have positioned themselves in the luxury market. The goal of this article is to investigate the COO effect for a luxury brand originating in the Czech Republic - namely the watchmaker Prim - and its impact on the marketing strategy of this brand. The main research method used in this article is the case study method which combines the findings of in-depth interviewing and observations together with findings of secondary research. The managerial implications mainly target brand managers of luxury or premium market brands originating from the Czech Republic and other CEE countries. The investigated brand case of Czech watchmaker Manufacture Prim 1949 proved that it is possible to build a luxury brand originating in the Czech Republic and also successfully enter foreign markets with this brand. However, for foreign markets, the marketing strategy (mainly the communication) strategy needs to be adapted as the COO does not bring any additional value for customers in those markets and it needs to be replaced by other values (such as the long tradition of the brand, interesting story of the brand, etc.). Overseas, the COO could be used as a positive value by stressing the European origin instead of the Czech one. Targeting also needs to be adapted as local patriotism would not work for the brand.

Keywords: Country of origin; marketing; luxury; branding (search for similar items in EconPapers)
JEL-codes: M31 (search for similar items in EconPapers)
Date: 2013
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DOI: 10.18267/j.cebr.50

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