Why do we need to use branding?
Products or services can be made attractive in multiple ways- branding is the secret language of luxury and most important. Good design, effective marketing, and inventive public relations campaigns can propel an average concept into the range of premium pricing. But how do you take a premium product and make it so attractive in the long term that people are willing to pay insane amounts of money for it? The answer is luxury branding.
What can branding do for a luxury product or service?
Even when service, quality, and design are in place, correct luxury branding adds true magic to the whole offering. It gives it’s product or service range character, uniqueness, and long-term connection. Without it, an aura of luxury lifestyle consumption can never be established with enough credibility to make it sell. To express it simply, it makes the offering more valuable in the eyes of the consumer. It removes limits on price and can drive up margins to never seen heights.
What are the basic components of luxury branding?
- The Logo
- A color palette
- An iconic product
- A legendary founder
- The right celebrities to represent you
- The right sponsorships
- A specific set of values expressed in advertising
A luxury logo should be minimalist, artistic and express the unique character of a brand. It should be everlasting and eternal in its appeal.
A color palette
Everybody knows Burberry’s signature khaki, Chanel’s pink or blazing Ferrari red. Colors like these become trademarks of the brand itself.