Building Luxury Brands Across Borders: How to Strategically Position Luxury Brands across Colombia, Peru, & Venezuela

This paper investigates how a luxury fashion brand would be able to strategically position itself within Colombia, Peru, and Venezuela. It specifically looks at consumers' perceptions of general and visual branding strategies such as international and local positioning. Secondary research was conducted on domestic and international branding strategies, standardization and adaption techniques, and cultural business differences between the three countries. After primary research was completed through a survey and multiple interviews. The survey looked into perceptions of international and local brands of each country. The survey was an A/B test where participants were either given questions surrounding a local or international brand description and advertisement visuals. With the interviews, they provided a baseline of information from Colombian consumers on general perceptions of luxury brands, products, and the memories associated with them. Overall, it was found that Columbian participants had more positive perceptions of international brands, Peruvian participates had a more positive perception of local brands, and Venezuelan participants did not have a significant preference for either. Based on these findings, recommendations were made suggesting possible brand positioning and entry strategies for companies wanting to expand throughout Colombia, Peru, and Venezuela. The continuation of this paper includes an analysis and interpretation of the findings, the limitations of the research, and the possible future direction and continuation of this research.