What do luxury goods include? Luxury brands first come from the luxury goods they serve. In economics, luxury goods refer to products with the highest value/quality ratio. In life, luxury brands enjoy a very special market and social status. From the difference between a bottle of perfume of $3 and a bottle of perfume of ￡ 300, you can marvel at the sacredness and charm of luxury brands. From another perspective (such as marketing), luxury goods refer to products with the highest ratio of intangible value to tangible value. A "Goldlion" belt can be sold for 1000 RMB. A yellow cattle, even the belt meat only sells 1000 yuan. But you proudly wear the "Goldlion" belt, and it's really scary to wear cowhide. It can be seen that luxury goods and their brands are indeed unique.

So, what are the characteristics of luxury brands?

1, a symbol of wealth

The brand charm of luxury brands is rich and luxurious. Luxury comes from the Latin word "Lux". Therefore, luxury goods should be shiny, bright and enjoyable. Luxury goods convey these contents through their brand visual identity system. From a sociological point of view, luxury goods are goods of the aristocratic class. It has status, status and superior power. It is the representative of noble image. Although the society is democratic now, people's concept of wealth has not changed, and luxury brands can just meet people's instinctive needs. Rolls-Royce is a symbol of noble cars.

2. It looks good

The products served by luxury brands must be "the most advanced". This "superlative" must be reflected from appearance to quality. Luxury should be visible. It is precisely because people are "obvious" about its luxury that it can bring glory to its owner. Therefore, luxury goods should provide more "visible value"-making people look good. People who buy luxury goods are not pursuing practical value at all, but pursuing the "best" feeling of all mankind. Mercedes-Benz cars are all like this; The same is true of Chanel fashion.

Step 3: Personalize

Luxury brands are often proud of themselves, they constantly erect the banner of personalization and create their own highest realm. Mercedes-Benz pursues top quality, Rolls-Royce pursues handcraft, Ferrari pursues speed, and Cadillac pursues luxury and comfort. They are all masters, each showing his abilities. It is precisely because of the individualization of goods that people create reasons for buying. It is precisely because the individualization of luxury goods is very different from mass goods that it shows its noble value.

4. Features

Luxury brands are very exclusive and must not be expanded at will. The so-called brand specificity means that the brand only serves a certain product or a certain type of product. It is difficult for us to see a luxury brand used across two industries, and it has also achieved success. Brand diversification itself is a taboo of brand management, let alone a luxury brand. Pierre Cardin (we don't think it is a real luxury brand) once extended to the wine industry and produced a "Pierre Cardin" wine, but it failed. If "Nike" dares to do this, it is definitely a lack of luck. If remy martin successfully introduced shampoo, Procter & Gamble would be furious.

5. Sense of distance

As a luxury brand, we must create a feeling of sighing at the ocean. Making most people feel unattainable is the mission of luxury brand marketing. In terms of market positioning, luxury brands serve a few "rich people". Therefore, in order to maintain the superiority of the target customers, it is necessary to make the public feel distant from them. Distance produces beauty. Luxury brands should constantly set up consumption barriers to keep the mass consumers out. There is a huge contrast between those who know the brand and those who actually own it, which is the charm of luxury brands. So it can be said that luxury brands are "coveted and owned by a few people".

References:

Interpreting the Concept of Luxury Brand and Its Five Important Features