The Secret to Hermès’ Success
Better still is Hermès’ skill at creating a halo of exclusivity around
each product it sells, no matter how trivial: ties for €150, scarves for
€350, perfume for €85, fashion bracelets for €450. Consumers can buy
any of these products and leave the Hermès store feeling like a million
dollars. To achieve this, Hermès has implemented one of the most
effective stratagems for reconciling high sales volumes with a
reputation for exclusivity: category segregation. This involves
confining iconic, core category products to high-end price ranges only,
while focusing other product categories with lower price points on
aspirational consumers.
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Other companies have tried this approach, but none come close to Hermès’
level of success. Cartier segregates its product categories when it
comes to advertising, featuring only exclusive pieces of jewellery in
its campaigns.
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