Luxury brands do not devaluate the competition or explain about their products directly. Interestingly, they communicate the legend of owing the brand. There is no real advertisement for the brand (Mora, 2006). Yet, people want to buy the product owing to the elusive nature of the product. There is enhanced marketing done that is different from the normal brands. There are a number of myths that have been associated with the Chanel brand. Coco Chanel, Rolls Royce brands have used elucidated techniques (Atwal & Williams, 2009)
These are some of the branding techniques that are used by the luxury brand. In the case of luxury brands, there is an inherent story and interesting brand persona that has been embedded in the design of the product.
Luxury brands conventionally use brick and mortar stores to sell products and showcase the services of the brand. In these small spaces, they try to create a brand experience that is truly special. The product should emulate the brand persona and increase consumer traffic into the shops. This helps keep the regular consumers and create unique experiences for the consumers
BMW World in Munich created an innovative store experience. For this they have created an exclusive exhibition of the products where the consumers can emulate the sensibilities of owning the products (Atwal & Williams, 2009). In this, the consumers were allowed to experience the brand more than the product. This was a very successful strategy that led to the company gaining in more sales.
“Push” products are the mantras used by the mass product to sell the inventory towards the public. In the case of luxury brands, this notion is completely revered. Essentially, the consumers need to be “pulled” by promising them an exclusive premium circle. In this, many consumers want to belong but only a few are allowed. This is a unique strategy followed by the brands to ensure that they maintain consumer base and also increase the sales of the product.
Hermés brand will not allow everyone to buy their products. It needs the customers to form a long-term bond to sell the products and the customers are provided opportunity to buy the product (Mora, 2006). This might be conventionally considered to put of the consumers but the consumers like this strategy, as they believed it made them belong to an exclusive circle.