No company can function without good branding. It’s the most essential part of a company and the influence these brands have over the mind of the consumers can decide whether the brand will run well or not.
There has been at least one point in all our lives, where we have bought something just for the sake of the brand name or the social status it symbolises. If you had control over everything in life and you had the liberty to choose instead of “just going with it”, the majority of us would choose Rolex over a Titan or a Louis Vuitton / Burberry over a Levi’s / Gap. Now the question is why the former brand over the latter when both offer the same purpose or similar products.
When you look at a Rolex watch and a Titan watch, both show you the same time and serve the same purpose. However when you compare the prices of the two companies you find the Rolex watches start at almost ₹4,43,610 whereas you can get a good Titan for way lesser. The price difference is surely mind boggling but it doesn’t make much difference to those who would go for luxury over the the comfort of their pockets. Personally I’m someone who would go for a luxury product even when I know I can get something similar for lesser. The idea of owning something exclusive, something that most people don’t have, something that makes you feel like it’s yours and only yours is what attracts me and many others to go for these brands/products over the other ones. For some it’s also the idea of having a social status or the standard that comes attached to the price tag.
The idea behind these luxury brands is the fact that they don’t sell you the benefits of the product , they sell an idea or an emotion to their consumer base. The whole concept of their marketing strategy is to touch the emotion inside you in such a way that it takes over your reality. It pushes out the practicality aspect and sticks on to the more emotionally overpowering side of you. When you look at a Rolex or a Patel Philippe, the emotion inside you tells you that it’s like an heirloom which can be passed on to the next generation and the generations after that. Whereas when you look at mass market watch brands, you think of it as something that you can buy over and over again without attaching any feelings to it. Another aspect of a brand that is built over the years is that most people work extremely hard to buy a certain product from their brand. When you work hard and spend a huge amount on something, you obviously attach emotions to it and that’s exactly what these brands feed on. Now, the thing is, there’s no such thing as a right brand or a wrong brand, it all comes down to one question – Would you want to work on building your brand at a level where your customers trust the brand and don’t give the price tag a second glance ? If the answer is yes, then get in touch with us today!
