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PRESS RELEASE Today’s luxury consumers don’t buy because of a luxury brand… Justifying
the Luxury Purchase: the Essential Role of the Luxury Brand June 14, 2004 Stevens, PA—The April/May issue of Luxury Business focuses on brand loyalty, and its role in a new luxury world. This issue offers marketers new insights to recognize how the luxury market is evolving, and view what they offer the consumer from an experiential perspective. It’s all about how the consumer feels and experiences luxury. ·
It’s not enough anymore to simply be the best of the best. For many of today’s luxury brand marketers, a new shift in luxury will require some re-programming. “The business of creating, building, and communicating a luxury brand just got more complex because marketers must make the quantum leap beyond thinking only of the luxury product benefits and features to delivering experiential performance,” says Pam Danziger, president of Unity Marketing. ·
Luxury brands connect corporate strategy with consumer
psychology The true measure of a luxury brand today is how well it performs or delivers luxury satisfaction to the consumer. The greatest luxury satisfactions are achieved experientially, so it is when the luxury brand becomes the means through which corporate strategy meets consumer psychology that a luxury brand achieves ultimate success. If a brand can evoke the consumers’ luxury satisfaction and happiness, then the brand connects with the consumers’ psychology and encourages them to buy. It’s ultimately a matter of understanding today’s luxury consumer’s expectations and then marketing to them. ·
What makes a product ‘better’?—Today, luxury is what you
make it Robert Passikoff,
founder of Brand Keys, defines a luxury brand as ‘better’ than ordinary
brands. Passikoff uniquely recognizes that it’s the consumer, not the industry
who defines just what ‘better’ is. In this issue, read about his ‘best in
class’ brands theory, those who come closest to meeting or exceeding the
consumers’ ideal for that product category, including everyone from Avis to
Starbucks. Also covered in this issue: · ‘Old Luxury’ is about the thing; ‘New Luxury’ is about the experience · How consumers bring higher expectations to luxury brands. · Consumers aren’t quite ready to go “all internet all the time” for their luxury purchases. · Brand loyalty differs by product category. · Brand a supporting, not a starring role in the luxury purchase decision. · Internet a viable distribution channel for jewelry marketers. To subscribe to the Luxury Business Newsletter, follow this link. For more information, visit www.unitymarketingonline.com, or call Pam Danziger at 717-336-1600 Pam@unitymarketingonline.com
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