Sometimes CMOs have to help other decision-makers understand that marketing entails more than advertising—particularly in the case of high-end brands.
A recent study from Notre Dame’s Mendoza College of Business, Stanford University and London Business School examined 506 CEOs of large corporations and found that 25 percent have a marketing background. » Read More
We have identified the posts that you read the most in 2015. From digging deeper into the story behind C3 Design to learning that Ultra Affluents are looking for luxury in items that have “excellent design” rather than “exclusiveness”, we have learned a lot. » Read More
Upward Home visits Pirch
I have no quibble with “stack ‘em deep and sell ‘em cheap” retail stores. I think that they serve a very important purpose in the retail world for the right kind of brand and the right kind of consumer. » Read More
Business leaders are the heaviest spenders.
Affluent consumers drive the U.S. economy.
In an economy where consumer spending accounts for 70% of the country’s gross domestic product, Affluents account for more than 40% of this volume. They are twice as likely to buy, and when they do, spend 3x more than the average household in many categories. » Read More
The surprising answer and how it affects high-end brands.
Most marketers I know would probably agree with Peter Drucker: the aim of marketing is to know the consumer so well that the product sells itself. Yet, at the high-end of the marketplace, why do so many marketers operate on outdated myths and misperceptions about affluent consumers? » Read More
Customers may fall in love with your brand, but only if you make a great first impression.
Perhaps you’ve experienced from time to time an immediate, visceral reaction to a product you found in a store or online – so much so that you thought to yourself: “I am so buying that.” You didn’t think about it. » Read More
Why you should consider an experiential luxury strategy for your brand.
Several years ago, I was working on brand strategy with my clients at Viking Range. The philosophical question on the table was this: Is a giant stainless steel Viking an end unto itself – or a means to an end? » Read More
Get ready for intelligent technology in the home.
I remember the first time I came face-to-face with “smart home technology.” I was standing in a booth at KBIS, the national kitchen and bath trade show, trying to decide if an internet-enabled computer screen, integrated into the door of a refrigerator, was a winner or a loser. » Read More
A high-end home brand that provides options can dramatically impact a buyer’s perception of value.
When brand marketers face the inevitable dilemma of expanding a product line, an often difficult decision is whether to go up- or down-market. Either choice has its own inherent risks and rewards: Introducing a lower-priced line of products may open your brand to a new kind of consumer, but you need to be careful not to commoditize your brand. » Read More
If product features cascade downward, might shopper behavior cascade upward?
I’ve always bought into the luxury marketing theory that product features launch at the high end and cascade downward to the mass-market.
For instance, the in-dash navigation system once found in a Lexus has cascaded down to a mid-market Toyota.
» Read More