Designing Brands & B... • 1y
You have to trigger the survival instinct among your customers to generate more sales. 1. You don’t need luxury to survive. Right? or Wrong? Luxury brings status among neighbors, colleagues & relatives. So, companies like Louis Vuitton, and Mercedes sell you the status, not the product. 2. In most cases when people already have the basic resources like food, clothes & place to live. They want to save time & use the time in a better way. If your product is saving your clients time in some way, promote that. 3. To survive & thrive humans need to save money. Even billionaires negotiate prices while buying a jet. The saving money principle can be used in after-retirement financial services, banks, or in a grocery shop by giving discounts. 4. Building a social network to survive is a human instinct. Humans are scared of being lonely in the time of crisis. So, they become generous around people to build a tribe so that we can protect ourselves while in danger.
Founder & CEO at Bui... • 1y
How Audemars Piguet become the status symbol even among the richest. This is because the brand’s watches are so expensive that the last year they only sold 51,000 pieces as compared to other luxury watch brands. But still their revenue was $2.7 Bi
See MoreBuilding JalSeva and... • 11m
A strategy by Gucci's CEO, who reportedly burned $10 million worth of unsold luxury products to maintain the exclusivity of the brand. 🤯🔥 The decision to burn unsold products was part of Gucci’s broader strategy to protect its brand image. By de
See MoreDream Big, Set Goal ... • 11d
"Invest in our cutting-edge robotic cleaning machines—revolutionizing hygiene with time-saving, efficient automation!" "I'm pitching our robotic cleaning machines to secure investment for scalable, time-saving automation that meets the growing deman
See MoreEverything about Mar... • 4m
“The Pricier, the Better: How the Veblen Effect Drives Luxury Brand Obsession” The Veblen Effect is a psychological phenomenon where demand for a product increases as its price rises—because the high price signals status, not just value. Luxury bran
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