Luxury Brand Positioning
Positioning is marketing in reverse. Instead of thinking in terms of your brand, it is all about thinking about the position you hold in the mind of the consumer, your customer or potential customer. Brand positioning is where corporate egos need to be left behind.
When asked the question - what is the world's leading fast food restaurant? most would instantly answer 'McDonalds'. But luxury is a lot more subjective. Ask the question: 'who is the world's leading luxury women's fashion brand?' and you will get a number of different answers: Prada, Louis Vuitton, Gucci, Versace, Burberry, Hermes, etc. Or 'what is the best luxury car brand?': Ferrari, Bentley, Aston Martin, Jaguar... the list goes on.
Positioning is all about owning niches. Who owns the fine jewellery niche? Cartier, Boodles, Graff? There is no definitive answer. It all depends on who you ask.
Let's say I was asked to position a brand new luxury jewellery brand called Obsession (I made it up), that manufacture fine jewellery in London to the very highest standard. A standard that would put most to shame. Obsession cannot position themselves as 'the world's leading fine jeweller' even though its arguably true. Why? because Asprey, Cartier, Graff, etc own that position - in the consumer's mind. So how do Obsession position their brand if they can't occupy the top spot? Answer - they need to own a different position in the prospect's mind. They could position themselves as the leader based on location, as 'the UK's' leading luxury jeweller'. Or by price - the world's most expensive jewellery. Or they could try a different tact: 'Obsession is not the most well know jeweller in London, so why buy from us? Because we are the best.'
A brand can position itself based on a number of variables: price, location, quality, reputation, service, etc. It's just important that it 'owns' that position in the consumer's mind. If you are not number one, no problem. Use the status of that leading brand to give you leverage. i.e. 'reposition the competition'. Utilise all of your competitors hard work, time and money spent on marketing to position yourself as a credible alternative.
To find our more about how I can help you position your brand, please get in touch.