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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