Define public luxury goods, and you’re off to a great start! But before we get into that, you might want to ask yourself what luxury goods are, in the first place. They’re basically the things that people would be willing to spend money on, and on the lookout for. We’ll discuss some examples of luxury goods in the following paragraphs.
Luxury Brand – One of the biggest aspects of luxury brand advertising is image. You need a good professional, stylish image to succeed in this business. And luxury brand image can run the gamut from style, performance, and quality to attitude. It can even be as complex as being based on individual personality traits. Some luxury brands cater specifically to younger, skinnier, or more athletic men.
Luxury Brand Reputation – One thing that most luxury brands have in common is a high level of customer satisfaction. A high-end luxury brand will almost always be one that is full of testimonials. In fact, many luxury brands online offer full testimonials from happy buyers. Be very wary of those that don’t. If they seem to be mostly interested in selling you a product, but not very happy with it, that’s a warning sign.
Quality of Service – Luxury goods like automobiles are supposed to be relatively maintenance free. Yet there are hundreds of thousands of people who suffer from car problems every year. This is where luxury goods really come into their own. They tend to have longer service life, and require less total care and upkeep. This all adds up to customers feeling happier and more satisfied with the products and services that they receive from a luxury brand.
Service Support – Luxury brands that really deliver on their promises, and actually care about their customers, are also the ones that have the most loyal customer base. They have done the research and the homework that would produce a high quality product. They understand their target market and have solutions for problems that a normal consumer would have to deal with. So when something goes wrong, it’s the luxury goods brand that you turn to – not the manufacturer.
Value for Money – The last thing that a luxury brand should do is to sacrifice the quality of their merchandise in order to save money. It doesn’t matter how many discounts you get. If your delivery is delayed, or your product isn’t what you expected, it’s pointless. So never sacrifice quality just to save money. Your customers will judge you, and your company by how well you treat them.
Reputation Management – When a customer gets a bad product they’ll talk about it. But if you treat them well and provide them with the best service, they’ll keep coming back. This is why a reputation management brand can be so powerful. Luxury brands invest a lot of money into their customer database – it’s smart business.
So there we have it. These are the six factors that a luxury brand should consider in order to define public perception of their products. And if you use them correctly, it won’t matter whether you’re operating a brand that’s on a small island or a multi-national conglomerate. Luxury goods are good value for money… and should always be seen as such. So make sure that you don’t compromise quality in order to reduce your cost or your production costs.
Don’t be tempted to fall into the trap of offering poor products at high prices. That doesn’t make sense either. Think about it – if you’re trying to sell expensive nightwear to a customer who can’t afford it, they’ll think that you’re trying to get rid of the goods as quickly as possible. So a good luxury brand needs to offer good value for money.
Luxury brands should invest time and money into developing a customer database. It’s part of their job. And they should always aim to keep that database updated. A luxury brand should also have a strong marketing strategy. It’s important that the right message is sent – it could be that you’re a brand that gives customers what they want, but it could also be that you’re one of those companies that specialise in producing goods that can’t be found anywhere else.
So a luxury brand needs to invest in improving its image. This is only part of the equation though. To ensure that its brand is perceived as good value for money, it’s vital that they keep updating their range, their designs, their ranges etc – otherwise they risk losing the public perception that made them so successful in the first place. A good luxury brand needs to work hard to keep the public believing them.