In luxury real estate personal and company branding, brand positioning is determining how best to amplify and clearly communicate the difference between you and your closest competitors. In general, your brand position is the summation, in a couple of words, of what you stand for in the minds of your target market.
Owning the very opposite brand position of your competition is a very effective way to accomplish this. In the realm of luxury marketing you are typically dealing with sophisticated consumers or those who are aspiring to become more sophisticated. So, how do you find opposite brand positions within the spectrum of sophistication? Here are two French brands that illustrate this extremely important principle of personal and company branding.
Two heritage brands, Ladurée (founded in 1862) and Bigot (founded in 1913) are famous in France for chocolate and pastries. The quality of their products is legendary. Ladurée is predominantly located in Paris, while Bigot is located in Amboise, in the Loire Valley. If you did a blind taste test you might discover some very subtle differences in the taste of the chocolate. However, the quality is indisputable in each case.
Personal preferences in the taste itself may be the deciding factor in choosing one brand over the other. But, more likely than not the buying decision would come down to the brand position. Ladurée is FORMAL and Bigot is INFORMAL.
If you new that both brands would satisfy your sweet tooth, without tasting the actual chocolate, to which brand would you personally gravitate? Why?
People like to do business with people and companies like themselves. They purchase products based on their personal values. That is why branding is about facilitating a match in preferential values between purveyors of goods and their very specific target market.
In the realm of real luxury real estate, the buyer must be in upper demographic to be able to afford a luxury home. Therefore, understanding the precise psychographics of your buyers and sellers, (their priority values and attitudes), is of paramount importance when it comes to branding you or your company. Just be sure that your brand position authentically represents you and is not assumed just to be the opposite of your competition. Your ideal clients will see right through that!
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