luxury brands

From Obsolete Commodity to Status Symbol

Old fashioned wood and graphite pencils were once how we all wrote, but hit their popularity peak decades ago. They are high maintenance – as soon as you start using a sharpened pencil, its point begins to dull and the thickness of the line starts to change. Too sharp a point, and it will break or poke through the writing surface. Too dull, and it’s sloppy-looking.

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L2′s Top 20 Luxury Brands Using Digital – Burberry Lead the Way

Guest Post by: Katie Glass

A recent report has revealed that social media adoption by the fashion industry has exploded over the last three years. The latest L2 Luxury Digital IQ Index report which was led by Scott Galloway, Professor of Marketing at NYU Stern, reveals that there is now widespread adoption of social media channels by fashion brands.

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The Swarovski SCVNGR Hunt – Our Impressions

Guest Post by: Ed Thompson

This weekend, FreshNetworks checked out the Swarovski Discover Your Light event, to experience a luxury brand social media campaign using SCVNGR. SCVNGR is a check-in app that sets users tasks or “challenges” to complete at certain locations.

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Four Luxury Brands that Lead the Pack in Social Media Innovation

2010 has seen a marked increase in luxury brands using social media and innovating with it. This is one of the findings in the latest L2 Luxury Digital IQ Index – research led by Scott Galloway, Professor of Marketing, NYU Stern. The report shows how luxury brands have really pushed their use of social media in 2010, realizing that the benefits for them come from not just having a social media presence but also from engaging people in social media and online communities.

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When Consumption Isn’t Conspicuous

Marketers know that a key element in many purchases is to signal something about the buyer. A Toyota Prius, for example, says that its owner is concerned about the environment. Expensive luxury brands let the world know the buyer has discriminating taste, and, more importantly, has plenty of money.

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Balancing Luxury, Tiffany Style

Luxury brands face a difficult challenge: they must be exclusive, and usually expensive, to maintain their elite status. At the same time, a brand that has extremely limited distribution may not be able to acquire or maintain the visibility in the marketplace that makes the product both recognizable and desirable.

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Luxury, Left Brain, Right Brain

Popular psychology simplifies the different functions of our brain hemispheres by using “left brain” to indicate analytical thinking and “right brain” to mean creativity and emotion. That may be a bit of an oversimplification, but it’s a useful shorthand. In The Luxury Strategy, authors J. N. Kapferer and V. Bastien emphasize the need for a management team that has both characteristics.

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Does Your Product Have Enough Flaws?

The better the product, one expects, the fewer the flaws one will find. That’s why Lexus is at the top of the quality surveys, and why Yugo went out of business. That’s perfect logic, until you get to true luxury products. One of the counter-intuitive marketing characteristics of real luxury products, according to J. N. Kapferer and V. Bastien, authors of The Luxury Strategy, is that they may be less than perfect. To some degree, these flaws actually increase the luxury appeal of the product.

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The Luxury Strategy

Book Review – The Luxury Strategy: Break the Rules of Marketing to Build Luxury Brands by J. N. Kapferer and V. Bastien

Neuromarketing and luxury brands go together. After all, to a large measure luxury is a psychological construct – is a $600 purse ten times better than one that costs $60. Indeed, without brand labels, could the average person even distinguish them? It’s not surprising that early adopters of neuromarketing include luxury brands like BMW.

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Recession Forces Luxury Brands to Target the Wealthy

The first thing that popped up on “must blog” list is another item about luxury.

According to a Luxury Institute study, summarized by AdWeek, state-of-the-market series, 77% of high-end shoppers "agreed that luxury is less important in today's economy."

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