Do you know that the purest branding that you can take a look comes from luxury brands? If you don’t know about it yet, maybe it is the right time for you to learn these while shopping. You must be wondering ‘Why?’
Well, mainly it because luxury brands can show their key competitive advantages through the brand and its image.
Now, to make sure that you can understand deeply about branding after reading this article, we can see few characteristics that come from luxury branding. Here are some guidelines which in each strategic and tactical directions it has their own merits that you can understand more clearly and easily.
At first, a brand image must be designed to be globally relevant. So people across the world can understand the meaning of your brand clearly and able to compete broadly with other brands. Prestige image must be shown through luxury branding; this indicates that your brand’s image must be controlled to reach the same ideas with what the public receive later on.
Secondly, luxury branding as a role model needs to maintain their reputation. Since luxury branding often looked up as one of an aspirational brand in the trickle-down effect, it has its own benefit to spread out new products easily via PR and by word-of-mouth. But with the fast spread out, a luxury branding must keep aware of their action and words.
Third, well-managed brand architecture to minimize cannibalization. The reason that brand architecture is made because it can help a luxury branding to face market fragmentation and channel dynamic. It has been practiced by Coca-Cola Company as a tool to create synergy and clarity. A coherent brand architecture can avoid market weakness, confusion and missed opportunities.
Fourth, the benefit that luxury brand received comes from secondary associations. As one of a big company, luxury branding often gets their mutual benefits from an event as their sponsor. By giving support and participated in events, a luxury branding can be seen by the public more often and always remembered in people’s mind.
The last, brand elements are crucial. Beside the brand names, brand elements such as logos and packaging as a representative of the luxury brand that shows the personality. It is as if you wear clothes that match your personality and indicate the whole of you.
Luxury branding shows their key competitive advantages which can motivate you to look up their strategic and tactical guidelines to improve your brand in the future. And that is why you can follow the guidelines.