Why Bonia Marketing Strategy Works?
When you think of leatherwear and accessories, you think of the brand Bonia. However, many people assume that Bonia is a foreign brand that is famous here in Malaysia when in reality, Bonia is actually an international luxury fashion retailer which is based locally and is inspired from Italian fashion as the name suggests.
Bonia has more than 700 outlets opened across the Asian continent, founded by Chiang Sang Sem in the year 1974 and starting his own business in Singapore by designing and manufacturing leather goods. Chiang would later establish Bonia Corporation Berhad in 1994 with the group being controlled by the Chiang family and him being the Executive Chairman, expanding the business by owning several other stores which also focuses on leather products such as Sembonia and Braun Buffel.
Bonia is known to produce high quality leather goods given its status as a luxury brand, the products are created with innovation and creativity in mind to capture customer’s eyes. Aside from that, the quality of the products is so good that they even last for a long time.
Considering that leather is a type of delicate material that needs to be handled carefully and cared for by using special fluids to clean. Sending the products for servicing every now and then is also vital to prevent it from being destroyed.
Prices and Promotions
The company knows that Bonia is not the only brand in the leather industry therefore, they do their best to capture the customer’s interests by offering lower prices than their rival companies. In order to create buying excitement, the brand offers discounts to customers who purchase their goods.
Through the use of platforms such as social media, television and newspapers, Bonia is able to cast a wide net and reach out to more potential customers. By hiring celebrities to endorse their brand, Bonia is also able to attract customers’ interest as well.
As it is with making decisions especially financially, one must consider the audience that the company is trying to target to achieve maximum profit. Bonia does this as well by targeting people within the age of 20 to 49 years old.
This is due to the fact that most people around this age demographics are already working and are people who either love leather items or love to follow trends. Hence, this targeted group has the buying power and are more likely willing to spend money to buy Bonia goods since they already have a stable income to finance their spendings.
Bonia has strengths and the company uses it to maximize their advantage over other companies. By partnering up with third party companies, they are able to sell their products even more.
More often than not, Bonia often sells their product through department stores such Isetan, AEON and Parkson Grand. They also market their products on online platforms such as Zalora which makes their sales increase and also spreading awareness to the public about their brand.
Bonia also has a loyalty programme for customers who have been loyal to the brand. This includes giving discounts, member sales and even special privileges on the customers’ birthday.
Free shipping is also offered for convenience should the customer choose to purchase their leather goods from online platforms. Customers are more likely to purchase more products from the brand if they receive more attractive benefits which are provided by Bonia and they are free to do so by signing up with the brand.