Posted by Barry Silverstein on January 18, 2012 01:36 PM
Luxury brands aren't the only segment targeting the "1 percent," the uber-rich slice of the population that has been taking a lot of heat from the so-called 99 percenters. It is these wealthiest consumers, occupying rarefied air, who vote with their checkbooks, so their preferences are closely considered and carry a lot of clout.
So what is the high net worth consumer looking for? First and foremost, superior quality, according to "Luxury Branding and Marketing: A Global Comparison of Wealthy Consumers in Top Markets," a study just released by Luxury Institute. The survey analyzed wealthy consumers with a minimum annual income of $150,000 or the local currency equivalent in China, France, Germany, Italy, Japan, the United States, and the United Kingdom.
A broad majority (73 percent) of wealthy consumers think superior quality is the most important attribute that defines a luxury brand, followed by craftsmanship (65 percent) and design (54 percent). But increasingly, customer service is becoming a key consideration (47 percent). Customer service is even more important to Chinese consumers, who say that service has improved (63 percent).Continue reading...
Posted by Barry Silverstein on December 22, 2011 02:02 PM
Most consumer retail brands may have been battered by an economy in which said consumers are increasingly stingy with their money, but luxury brands have continued to make headway. While luxury products are not completely immune to an economic downturn, they have certainly weathered the storm better than most. That's because these are the brands that appeal to the upper echelon consumer who recognizes quality and is willing to pay for it.
But even in the luxury category, there are winners and losers, relatively speaking, which is something the Luxury Institute, a global research and CRM consulting company, studies quite carefully. The Luxury Institute analyzed more than five years of data from its surveys on dozens of luxury goods and services categories in an effort to identify "best practitioners" that have consistently scored above their competitors.
In handbags, a leading luxury category, the Institute found that "one brand stood alone in owning several critical metrics for brand vibrancy five years in a row." That brand is Coach.Continue reading...
Posted by Dale Buss on November 28, 2011 08:55 AM
Adbusters' role in branding Occupy movement examined in New York Times as Occupy LA protesters dig in heels.
Amazon eyes China growth.
Apple critiqued for not getting social media (but does it matter to brand loyalists?) as digi-savvy toddlers' parents fuel iPad sales.
Black Friday sales boost LG and Samsung as e-tailers are poised for Cyber Monday lift.
BSkyB's James Murdoch loses investors' confidence.
China's Chery automaker launches Qoros brand as Subaru joint venture gains lifeline.
Coach, expanding in China, will list shares on Hong Kong's Hang Seng stock exchange.
Coca-Cola, McDonald's, Nestle and Mars sign European pledge to only promote nutritious products on their websites.
Disney releases mobile app for Spider-Man, as the Marvel-owned web-slinger finds his feet on Broadway.Continue reading...
Posted by Dale Buss on November 18, 2011 09:02 AM
Accenture introduces global brand campaign.
Alamo trademark flap resolved in Texas.
Anna's Thins cookies adopt a new look.
Apple's iPad tested as voting device in Oregon, continues "App Store" fight with Amazon.
Best Buy ups holiday spending and introduces "Game On, Santa" campaign.
Boeing wins its biggest-ever commercial-jet deal even as mechanism for deal is criticized.
Cannes adds Mobile Lions award.
Coach pushes for China to become its No. 1 market within three years.
Deutsche Borse and NYSE seek to appease European Union.
Fiat introduces another TV commercial featuring Jennifer Lopez and its Gucci edition.Continue reading...
Posted by Mark J. Miller on November 7, 2011 11:55 AM
The city of New York put a heap of effort a few years a back into trying to get a stadium built on its west side over rail yards, but the effort went totally in vain. Now, finally, someone is moving in.
Coach, Inc., the leather-goods manufacturer, will be lugging its handbags and accessories just a few blocks from its current global headquarters to the new place when it is finally constructed, according to Bloomberg. Building is scheduled to get underway in the middle of next year.
Coach will fill the bottom 600,000 square feet of the 1.7 million square feet in the 51-story building and sit at the north end of The High Line, NYC's uber-cool elevated greenway constructed over a former freight train line in 2009.Continue reading...
Posted by Dale Buss on October 26, 2011 09:02 AM
Amazon suffers big drop in income.
Chrysler nears approval by workers of new UAW contract as the company moves toward building a new compact sedan designed by Fiat.
Coach foresees bright holiday sales.
Eurozone hangs in the balance as European leaders wrangle with debt issues.
Facebook now rivals TV as mass medium.
Ford fails to dazzle with third-quarter profits.Continue reading...
Posted by Shirley Brady on July 20, 2011 06:00 PM
British PM David Cameron tells Parliament that he now regrets hiring former News of the World editor Andy Coulson as News Corp. faces US calls for Dow Jones inquiry over phone hacking and London police say their investigation could take years. Wendi Murdoch fever also explodes on the web as her husband's media empire attempts to restore reputation.
American Express reports record cardholder spending.
American Idol co-creator Simon Fuller is suing Simon Cowell for a cut of The X Factor on FOX.
Associated Press will link to sources starting Aug. 1st.
Coach signs Gwyneth Paltrow for UK launch campaign.
Google offers credit card to advertisers, winds down Google Labs, launches Google+ iPhone app.
Intel quarterly results beats analysts' expectations.Continue reading...
Posted by Abe Sauer on July 19, 2011 04:00 PM
In the new trailer for the upcoming fourth season of Jersey Shore, a pack of Marlboros cozies up to The Situation. Yet when we contacted Philip Morris to ask about the product placement of the pack of Marlboros, particularly when the series has blurred other brands in the past, we were told by the cigarette maker, "It's not our product."Continue reading...