04 - Luxury 'Anti-Laws' of Marketing

Question 1

anti-laws of marketing

Answer 1

1. do not try to sell
2. make it an effort to buy (inaccessible)
3. do not advertise to sell
4. communicate to non-targets
5. do not test, do not look for consensus
6. never trade down or cut the price
7. never advertise the price
8. maintain full control of distribution

Question 2

2. make it an effort to buy

Answer 2

create obstacles to immediate consumption
- time obstacles (wait lists)
- stock obstacles

Question 3

3. do not advertise to sell

Answer 3

luxury communicates to raise awareness, not to sell

Question 4

4. communicate to non-targets

Answer 4

part of the value of owning a luxury good is the recognition by non-owners

ex: “if Lamborghinis stay in the garage, they cannot fuel imitation desires in society”

Question 5

6. never trade down or cut price

Answer 5

elasticity is positive - Veblen effect
- if price increases, volume (sold) increases

-> price is not the measure of value - it creates value

Question 6

8. maintain full control of distribution

Answer 6

• one-on-one service
• exclusive experience
• luxury rarity is built in store