The Luxury Strategy (by Jean-Noël Kapferer)

The Luxury Strategy by Jean-Noël Kapferer explains how luxury brands succeed by emphasizing exclusivity, craftsmanship, and heritage rather than just affordability. They focus on creating a perception of rarity and desirability, often by limiting availability and maintaining high standards. This approach fosters emotional engagement with customers who value tradition, status, and unique experiences. Unlike mass-market brands, luxury brands prioritize long-term brand equity over short-term sales. Their strategy involves careful storytelling, maintaining a prestigious image, and offering products that symbolize prestige and identity, attracting a niche clientele willing to pay a premium for exclusivity and craftsmanship.