Category: Marketing
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What makes a brand “luxury”?: Here’s a definition
On this site, I write quite a bit about luxury items and the luxury industry more generally. But I had moment when I asked myself, “So, what exactly makes it luxury?” Luckily much more determined people than I embarked on developing a definition. A team of researchers –Ko, Costellow, and Taylor—embarked on a journey to…
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Don’t pick causes just because
You know, I’ve seen some commercials that tell you how powerful women are and how they can do anything? And sometimes I wonder something like, “So what does this have to do with chocolate?” It feels like the company wants to jump on the women’s empowerment bandwagon, but it also feels forced and out of…
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There’s more to rap’s obsession with luxury products
Years ago, luxury brands recoiled when rappers mentioned their products in their songs. In particular Cristal had a distaste for it when Jay Z. Times are different now with brands like Tiffany & Co using the rapper and his wife Beyonce has key models for their campaigns. You could look into the past and assign…
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Shopping is a (psycho)social activity
There is someone, somewhere out there who spent thousands of dollars on a bag to look impressive. Think about it this way. I walk into the store not only thinking about the stuff I want to buy, but also what you might think about what I’m going to buy. Will you like it? Will you…
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Did your hormones make you buy that car?
You may have heard the joke before. So and so bought a Porsche to compensate for other things. But what does that really mean? It turns out that your biology really might make you go for those more expensive purchases. But maybe not in the way you’re thinking. Researchers conducted a series of studies to…
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There is a psychological power to luxury
As I sat at the chef’s table of Local Three, I had a moment when I decided I wanted more out of life. I had a literal taste of luxury and started calculating how to have more in life. How do I take part in more elevated experiences with great service and high-quality products? For…
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It doesn’t matter what you’re selling if no one’s buying
I believe one of the myths about marketing is that it is all about getting people to buy what you have. If you make a slick ad campaign, you can get people to buy the product that you have sitting on your shelf. That’s not how it works. Or rather, it’s not how it is…
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And now the buyer: Customer roles
We’ve come to the final role, the buyer. As I have been discussing the four customer roles, this one I suppose could be a bit confusing. I just wrote about the payer. What is makes a buyer different from a payer? This might be nuanced, but the buyer is the person who actually acquires the…
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Appealing to your paying customer: Customer roles
We are now on to the third of the customer roles: The Payer. This is one you are probably most familiar with, because after all, your products cost money. At the base, the payer’s concern is affordability. Yes, one question is “Can I afford this thing at the current set monetary value?” But they would…
A Wren Says 