Seven Indispensable Military Rules In The Luxury Industry

10 years ago, MarkRitson, a teacher at London Business School, was puzzled by an extravagant Brand Company to an old house outside Paris.

The driver in black suit left him in the house, but he had to walk around and study the house.

Mark reads books, looks at portraiture, and looks at museums.

"We speak

Melbourne Business School

One of the military rules: "remember your roots".

When it comes to brand management, professors and entrepreneurs always believe that brand building should be brand equity, differentiation and customer Association.

"But these are not applicable to luxury goods," Mark pointed out. "Luxury brands have a long history, and the root is the history.

If you want to move forward, you have to look back. "

Two of military rules: "understand your DNA".

Mark analysis: "DNA determines the behavior of luxury brands."

"Mining the brand's DNA is a pragmatic process, to return to the place of invention, the time of invention and the founder.

And luxury brands should follow these DNA, luxury brands must not do what customers want you to do, otherwise you will suffer bad luck.

Mark said.

Three of military regulations: "brand is not just LOGO".

"LOGO can play a brand like magic effect. The worst part of some luxury brands is to waste money in advertising and make some ads that you can't see what brand you are. This is very successful for Hermes. The elements in the advertisement echo with LOGO, which conveys the genes of the brand," Mark said. "LOGO can also convey the inheritance between the past and the future of the brand, and the novelty of keeping pace with the times."

Four of military discipline: "embody new life".

Many luxury brands have a long history of 100 years, but how do they like the products of their grandparents' consumers, who are also liked by the current consumers? This requires that luxury brands constantly change and reflect new life.

Mark said: "the most important challenge for luxury brands is consistency. The biggest paradox of luxury goods is the need for continuous changes to be loyal to their DNA.

Although DNA can not be repositioned, it can reflect new life.

Five of military discipline: "creativity".

In Mark's view, managing luxury brands is very difficult because it is not managing a consumer product, but managing creative challenges.

"Luxury brand managers need creativity to really manage a luxury brand. We must have the creativity to make elephants dance. But we have to admit that managers and artists are different. So if it's the mode of cooperation, managers should choose the right creative director and support creative directors. In front of them, luxury executives should learn to shut up and let artists talk.

Jack Welch's management idea is not feasible in luxury management.

Mark said.

Six of military rules: "exclusiveness".

Luxury brands only serve the minority. They can only be 5% or even 2% of the crowd. Others can ignore it.

A luxury brand can't do everything. It wants to net young consumers and old consumers. Both fat and thin consumers become brand vanilla ice-cream.

Mark said: "luxury brands must be exclusive. They should exclude most people and not buy most of them. Although this is not easy, it is the key to the success of luxury goods."

Seven of military discipline: "break the rules".

"Luxury brands must constantly break the rules and let others obey the rules," Mark said. "Luxury brands have no classification and rules, such as what is Yu Bu, is it a watch? No, it is a belief, an energy."