Cadillac’s New Brand Positioning Is Perilous Marketing
Will Cadillac’s new brand positioning be successful? Will this new positioning help in redefining Cadillac as a great, luxury brand again?
First, luxury is not the same as most expensive. Luxury has been described as one of those things where you know it when you experience it, however it does have specific attributes and benefits. Luxury has magnificence, grandeur, lavishness, splendor and sheer elegance. And yet, according to Coco Chanel, “Luxury must be comfortable, otherwise it is not luxury.” Luxury is experiential but it is product-oriented. Luxury is a description of the product or service. A luxury apartment, a luxury vacation, a luxury hotel, a luxury car must first be of the highest perceived quality.
Luxury and prestige is not the same thing. Luxury describes the product or service. Prestige describes the brand character (values and personality) of the product or service. Prestige confers personal status. Prestige is all about standing, stature, recognition, esteem, prominence, self-importance, fame, honor and renown. Prestigious brands allow a user to associate with brands that shout, “Look at me! I am someone now.” Prestige is The Age of Me on steroids.
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