If Jaguar is having a permanent markdown by restructuring their price points to compete in the affordable luxury car sector…Maybe this is a sign that luxury car brands are not focusing enough on their luxury branding strategies.
According to ADWEEK the brand’s new XE sedan will have a starting price of just $34,900. That positions Jaguar right in the heart of current pricing from competitors like BMW, whose 3 Series is $33,150, and Lexus—its IS is $36,500.
What if luxury brands focused in the area of luxury branding that produces the most results for selling luxury goods?
In order to do this let us first define luxury car…now that we got the concept down let’s explore these five rules for adapting affordable luxury branding strategies.
Affordable Luxury Car
When shifting to affordable luxury branding strategies there are five simple rules to follow for superior results.
#1 Diversify Luxury Branding Story Telling
While a luxury brand purpose and mission remains consistent….keep luxury branding relevant by telling the story through fresh interest. Co-branding and strategic affiliate partnerships presents new ways to tell a luxury brand’s story though diversity.
#2 Stay Connected To Target Audience
Customer loyalty can guide a luxury brand on what their target audiences of customers varies needs and wants. Creating an affordable luxury offering that continues to follow the luxury brand purpose and mission.
#3 Create A Luxury PR Branding Strategy
It’s important to focus on communications and delivering a clear luxury branding message to the public. Announce luxury press releases and promote news via a company website or blog as well as social media. Also make sure to implement a mobile luxury branding strategy with a company app and mobile website to meet the growing demands of high-end mobile device usage.
#4 Serve A Need
Introduce an affordable luxury offer that is needed in the marketplace and might be overlooked by the competition.
#5 Don’t Compromise Quality
Always make sure an affordable luxury offering matches the quality expectations of the luxury brand’s image.
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