Creating and building a brand is complex but to conquer the luxury market, things become a hundred times more difficult. Successful high-end brands share a common philosophy. They discover a way to construct something iconic and a memorable brand story which speaks for itself. Names such as Hermès, Armani, Bang & Olufsen and Tiffany & Co. require no further presentation. Everybody, regardless of affordability has at least heard about or aspires towards the. Building a luxury or niche brand, requires attention to detail throughout the entire brand and consumer experience. The luxury business is nearly distinct from any business model out there. It doesn't aim to convince clients to buy its products through traditional channels, like affiliate marketing, substantial reductions, or heavy handed marketing. They aim to attract clients by doing the exact opposite. They build a world of exclusivity and resist the urge to respond to increasing needs. They build a wall which only the 'worthy and discerning' can climb. How is that achievable? Exclusive brands do not aim their products at the masses, They understand their customers wants, needs and desires and importantly their lifestyle. The symbolic value helps build a brand's exclusivity has to be important for a specific type of customer.
They dimensionalise their niche to understand how a change in perception of the same item can between the European, US and Asian markets. This goes beyond your position on the marketplace because exclusivity and luxury shouldn't be comparative. The truly discerning and forward thinking brands don't seek to compete with one another, largely because their positioning in the sector is already placed the moment a brand is started. With regards in luxury, uniqueness is the key word. Being sure of that you're as a brand and that you need your clients to be, it gives you the power to thrive in such an exclusive market. Think of Chanel for example. Chanel doesn't position itself as available on the market, but instead has its own identity. Having the ability to make a value for your brand is one, however, controlling your stresses to likewise communicate it to clients is a totally different thing. Consumer brands typically concentrate on the operational value of the item, whereas high end brands concentrate on providing their products a symbolic value.
The symbolic value of a mark or merchandise comes out of in which the brand is positioned socially, and from the products it provides. In a way, you can state that the symbolic value needs to somehow be verified with the many exclusive of customers. Symbolic value can be built through storytelling and construction legacy. All high end brands have a story to tell, be it the story of their founder, the brand's roots, or something which makes the company unique. Recognise that story, make it, and sell it. The subtle art of selling more by I am Nobilis.