Session 7

Question 1

NDD Pyramid

Answer 1

Dreams are met by: Luxury
Desires are met by: Marketing
Needs are met by: Efficient production and distribution

Question 2

2 types of rarity:

Answer 2

1. Real physical rarity (Difficult to manage): Qualified labor (artist, artisan), Materials (gems, caviar, champagne).
2. Artificial rarity (Easier to manage): Limited editions, Limited distribution, Informational rarity.

Question 3

Two basic rules of promotion:

Answer 3

1. A luxury brand must keep a big part of its universe “out of reach” to protect the dream of the customer
2. Roots of the brand and its heritage are always to be reminded