#14. Keep raising the average price of the product range. In traditional marketing, you launch a product at a skimming price, then when competition comes onto the scene, you drop the price. In luxury it is precisely the opposite.
Go global, young man. That was the advice from Harvard’s Theodore Levitt when his seminal article, “The Globalization of Markets,” was published in 1983. Since then, globalization has become a dominant theme of international business strategy.
As neuroscience opens the brain to marketers’ scrutiny, the electrical flashes that arise in response to stimuli make it increasingly apparent that what drives purchase decision making is actually a primal mechanism of the mind-attachment.
Branding Strategy Insider helps marketing oriented leaders and professionals like you build strong brands. BSI readers know, we regularly answer questions from marketers everywhere. Today we hear from Kris, a Senior Marketing Executive in Tampa, Florida who has this question about subliminal advertising.
Whenever a fashion or technological change occurs, an existing brand, no matter how dominant, faces a choice. Should the brand be ‘stretched’ to encompass the new fashion or technology or should the company launch a second brand? If the change is significant enough, the better answer is almost always ‘launch a second brand.’
