For a luxury brand to develop its customer base, it must build awareness. But sometimes, high consumer awareness undermines goals - a brand can upset or drive away core or likely customers.
I find this 2X2 helpful for understanding why a brand appeals to certain consumers, which is a good place to start devising marketing and partnership strategy. I divided awareness on two axes: the vertical axis represents mass-consumer awareness and the horizontal is awareness among likely and current luxury customers.
In the upper right-hand quadrant, you’ll find brands that are instantly recognizable. These brands make big statements. It’s no wonder that the brands playing in this space appeal especially to consumers who are be a wee-bit ostentatious... They like driving a Mercedes that everyone knows is luxury.
Quadrant 2 contains luxury brands for whom mass awareness is unappealing – but its still very important that luxury consumers understand and identify the brand. Bottega Veneta derives much of its brand strength by creating the perception of discreteness. A signature weave, never a logo, makes a subtle but clear statement to peers.
Some brands thrive in relative obscurity... lower left-hand quadrant contains brands that are regional or for luxury connoisseurs. These customers derive a great deal of satisfaction from being in on a brand-secret and might be upset if it becomes too well-known… even by peers. John Lobb would have a hard time making customers covet $4,000 shoes without this sort of proposition.
Why would a luxury brand ever want to have low awareness by likely customers and high awareness among a mass audience? Even if it did make sense, I’m not sure it’s possible.
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