Luxury brands face a difficult challenge: they must be exclusive, and usually expensive, to maintain their elite status. At the same time, a brand that has extremely limited distribution may not be able to acquire or maintain the visibility in the marketplace that makes the product both recognizable and desirable. A brand that is so limited in distribution that few have heard of it fails to create aspirational buyers who dream of owning it, and doesn’t communicate to others the status of those who DO own it. According to J. N. Kapferer and V. Bastien, authors of The Luxury Strategy, one way to create a balance between exclusivity and visibility is with “access products.” […]
What makes a luxury brand? In The Luxury Strategy, Jean-Noel Kapferer and Vincent Bastien tell us in great detail what distinguishes "luxury" from "premium" and the merely expensive. And, as one might expect, our emotions play a huge role in the way we perceive luxury.