To sell high-end luxury these days you need to have a clear path for who you perceive your target audience to be. Before you can determine that, you need to first be able to define the value and promise of your luxury offering in the marketplace. This will provide a direction for what value your luxury offering will deliver to the luxury consumer.
Once you define value and promise creating a strategic plan and approach to communicate your message is set in place. Have you put any thoughts into how you will connect with and target your ideal luxury consumer? Most luxury marketers skip focus group consulting when promoting luxury retail products. However, evaluating the buying and spending behavior of target audiences can make or break a luxury public relations campaign.
By conducting research through focus groups you can determine what type of luxury consumer to target. For example the top 1% of luxury consumers generally have spending outfits of $500K or more. This sector is much smaller and harder to commit without exclusive networks and relationships influence. This is where luxury public relations can help reach this audience by engagement exposure. For ultra wealthy consumers it is not about pricing but quality for lifestyle enhancement. Luxury is lifestyle engagement and the relationship connection is more emotional than status association. Think of luxury consumers as partners oppose to customers.
It may be that your ideal target luxury consumer is an emerging affordable luxury first time buyer. There is even a growing demand among first time luxury brand purchasers. #MyFirstLuxuryBrand, special purchases for first time luxury brand buys is growing increasingly popular. The luxury segment is strongly supported by affordable luxury offerings in the marketplace. Focus group consulting further helps to identify buying and spending behavior to target this audience as well.
The China luxury market has a fancy for affordable luxury cars right now. Top luxury car brands are #BMW and #Audi in hot demands.
Photo credit BMW
If you would like assistance with a luxury public relations campaign and focus group consulting please contact us in confidence postmaster@mosnarcommunications.com for consideration.