Luxury brand elements

Luxury brand elements

The elements of a luxury brand can be first derived from the elements of luxury. Similar to today, luxury has initially been an elitist and rewarding practice (Chevalier & Mazzalovo, 2008, p.24). Kapferer and Bastein, (2012), give the ancient Egyptian civilization as an example (p.16). This civilization had two ever-present aspects of luxury; great splendour and pomp during life, and a highly ceremonial approach to the afterlife. Because luxury was mainly left for the rich, it was critiqued as pointless.

On the other hand, others saw it as a powerful driver of artistry and technical discoveries. Even today, luxury divides and unites at the same time. However, the banner of brands provides the distinction between different types of luxury as there is no luxury without brands.

According to Wilcox et al., (2009), Luxury brands represent social and cultural meanings that customers use to meet their social goals. Due to this symbolic meaning, there is an emphasis on psychological benefits rather than functional benefits, a feature that distinguishes luxury brands from non-luxury brands (Becker, 2018). As Kapferer and Bastien, (2012), explain, the luxury brand goes beyond the object; it’s just not an emerald, but one from ‘Colombia,’ it’s just not caviar but one from ‘Iran.’ However, for a brand to go beyond the object, customers need to attach substantial value to the brand for historical, social, and emotional reasons. Dubious and Duquesne identify several values that make a brand powerful in this respect; they include mythical value, exchange value, emotional value, ethical value, and identity value. All these values have symbolic meaning rather than tangible meaning, further reinforcing the idea that psychological benefits are of utmost importance. Kapferer and Bastien further enhance this concept by stating that a luxury brand should have roots and radiate. By having roots, the brand is anchored, not invented. It is a real and living person, as it is built on a universe as rich and complex as a human being’s personality. A luxury brand that radiates fulfills its ontological function by showing its superior taste to one of the most critical components of a luxury brand – its consumers.

Luxury brand consumers

Anybody can be a luxury brand consumer. Chevalier and Mazzalovo, (2008), point out that luxury clients include the very rich, and also…. Everybody (p.117). Don Ziccardi divides this diverse clientele into four consumer segments. They include millennium money, old money, new money, and middle money.

Despite a clientele that includes the very rich and powerful, Luxury brands listen to clients but are not consumer-led. According to Kapferer and Bastien (2012), this is because such businesses are taste educators; they build the classics of tomorrow, not the hits of today that are soon forgotten. (p.101). Such a viewpoint can be tolerated because their consumers are not rational, nor do they claim to be. Luxury brand consumers value the affective and aesthetic contents of their purchase and consider this to be more important than any other rationale criterion (p.121). Having a rationale criterion reduces their shopping pleasure. However, for a luxury brand to compel such a profound behaviour on their clients, it should impose its connotations on the contemporary world.

There are four types of values that consumers identify as essential for a brand to belong to the luxury world. The first value is elitism/distinction/ or select. This dimension is an indicator of success and creates a sense of belonging to a selected group (p.12). Amongst consumers, a luxury brand creates a feeling of us. Kapferer and Bastien (2012) explain this feeling by drawing parallels between religion, art, and luxury. Most luxury brands will start small, with few clients (Sect believers). As the brand wishes to enlarge, a real community of faithful clients is established. These brands are built structurally like religions, even involving sacrifices, (The price).

The second dimension is product quality and high prices. It is important to note that quality extends to all brand manifestations, such as employees and communication. The third dimension is emotional elements, where the brand appeals to the consumer’s pursuit of pleasure or self-indulgence. Lastly, a brand’s power is essential as it contributes to its uniqueness and reputation. Despite these dimensions, the consumer gives his or her definition of luxury through exercise.