Luxury Unfiltered is a weekly column by Daniel Langer, an expert in luxury branding, hospitality and activations who was named a “Global Top 5 Luxury Key Opinion Leader” by Netbase Quid.
Dior goes for gold with flashy J'adore campaignIn every project where I refine the positioning or the strategy of a brand, I start with what I call a brand audit. It is, in my point of view, the single most critical exercise a brand needs to do regularly. And it’s curious, because the most successful brands I work with do it proactively and regularly, while we often observe that brands who are underperforming versus their objectives often don’t do a brand audit.
My mantra has always been: in a crisis you have to go all out and fire from all cylinders. Underperforming brands that compromise on brand equity building to save costs amid top line pressures simply accelerate their demise. In luxury, if you don’t play to win, you lose. This is because luxury is – in its essence, extreme value creation in the eyes of clients.
Gen Zers are the most discerning client group and expect brands to align with their values and lifestyles. A brand audit needs to take a close look into consumer insights, helping brands understand shifting preferences and expectations. The ability to create desire depends on forging an emotional bond that drives long-term loyalty. Most brands within a category have major issues to create relevant emotional connections.
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