Are you my soulmate?

How to create a brand especially luxury one? It is simple yet very difficult question to answer. Building luxury brand needs special practice as it doesn't fall on normal marketing strategies. The first thing you need to have is differentiation and uniqueness of the brand. In Endorsement & Sponsorship class, we talked about characteristics that define luxury brand. Well, any luxury brand must have exclusivity, quality, craftsmanship, high price, selective distribution, high-end promotion and advertising and so on. However, emotional attachment is inevitable criteria as well because people consume luxury products not only for its tangible aspects, but also for the emotion it will bring. Luxury brand sells the dream along with high quality product. Living the dream is what consumers nowadays are looking for.

Brand identity is another important point. In order to become successful luxury brand, it must have distinctive brand identity, what it essentially is and where it stands, in which brand needs to position itself clearly and deliver it consistently to customers. One key to successful brand building is to understand how to develop a brand identity, to know what the brand stands for and to effectively express that identity (Aaker, 1996).

I found an interesting concept for building luxury brand by Philippe Mihailovich, professor of luxury brand management in France, that I want to share. Basically, he said that building a brand on storytelling is not working anymore. Luxury brand cannot be built from only one story or else it would be like building a prominence of an artist based on one piece of art. Luxury brand is all about the artist himself, his beliefs and values, techniques, materials used, and emotional touch-points. To build luxury brand name is like human relationships. It needs to create personal emotional bonding with its customers or to become their soulmate!!

Mihailovich (2009) suggested 12 steps to build luxury brand as if building a love story, to obtain long lasting relationships between customers and the brand.

Step 1: You're gorgeous                                      >> The rules of immediate attraction
Step 2: Getting interested                                     >> Showing and declaring receptiveness
Step 3: Getting to know you                                >> Where you are from / Where you live
Step 4: Who's in your past?                                 >> Your history / How you got here
Step 5: Meet the family and friends                      >> Liking those closet to you
Step 6: Are we right for each other?                    >> Let the head has its say
Step 7: Can I trust you?                                      >> I need to rely on you
Step 8: I want you                                              >> Consuming passions
Step 9: Soulmates                                              >> We share many values
Step 10: I love your touch                                  >> A personal touch throughout
Step 11: I love you                                             >> I'm commited happily and totally engaged
Step 12: Happily ever after                                 >> Constant desire / Lasting memories

These steps portrait the journey of the brand through time from the very beginning of introduction to the point of becoming favorite brand in consumers' mind, in comparison to having a relationship with someone right from getting to know, gaining trust, and loving wholeheartedly.

In class, we all had a group task to create one luxury brand and present the mood board to class. Our group came up with a private jet service for celebrities and sports personalities called 'Jetsetter'.

From the mood board above, it showed core brand identity and brand personalities, along with emotive qualities it brings to customers very clearly and deliberately. Jetsetter plays around the word 'deluxe, quintessentially & prestigious'. Its corporate colours are black and silver which simplify the luxury and classy image. It embeds the emotinal qualities of being exquisite, stylish, exclusive, comforable, classy and private to satisfy the need of those who appreciate a discreet yet luxury service.

Another group came up with a new, expensive champagne targeting at younger audience. It plays with the purple colour because purple represents joy, fun, and cheerful to attract young generation. Purple as corporate colour helps differentiate itself from other competitors because people normally think about black and gold when it comes to champagne. It relates itself to Christian Louboutin shoes as being seductively sexy and use Mary-Kate Olsen as celebrity endorsers. They are perfectly matched as a face of the brand and can engage younger crowds to consume this champagne brand in an attempt to be like the Olsen.

Another example is boutique hotel for wealthy singles called 'The V'. The hotel has exclusively 42 rooms and has partnership with Vertu, offering VIP concierge service to guests. It features all Philippe Starck design, has famous japanese restaurant, luxury spa, fitness, cinema, members only club. It emphasizes excitement, freedom, romance, passion, exclusivity, and glamour. The V offers everything you want to serve your luxurious desire at any time.

Now, it's time for you to consider creating one luxury brand on your own! It's not as difficult as it sounds!





Bibliography
1. Aaker, D. (1996). Building Strong Brands London: Simon & Schuster UK.
2. Mihailovich, P. (2009). Haute Luxe: Building Your Luxury Brand Love Story. Available at: http://luxurysociety.com/articles/2009/11/haute-luxetm-building-your-luxury-brand-love-story (accessed 26 February 2011)