Excess is the name of the best game of all – and if you can dominate even one small part of the market, you will be buying your own island soon enough.
What makes this idea seem so ridiculous is that it is entirely true and altogether easy if you have the right skills.
So why don’t more people capitalize?
Aye, there’s the rub. Because you have to convince a small demographic that they should like it. Taste is not part of the equation (as evidenced by some of the items currently exploiting this high-class niche).
You could even sell items that should barely be worth what they are made for, simple items that are just about the convenience, but attach a cool name or celebrity (however unlikely), and the price skyrockets with ease.
No matter how the economy turns, there will always be a high-class market. Fine art, designer clothing, real estate – all have the potential to become smart investments, but can just as easily be an illustrator that money does not buy taste. Or class. Least of all smart investment.
It’s about the name, not the result. This spills even into (or should I say especially into, considering Cribs episodes) the car industry.
We see it all the time on a smaller scale: the ShopRite brand v. the brand name frozen broccoli? The K-Mart boxer shorts v. the Calvin Klein variety?
It’s about BRANDING, folks. How can you position your product as the must-have for the people who have too much? How can you turn an ordinary item and make it extraordinary, doubling or tripling the price?
Or if you are a blogger, how can you make your content bigger, better, more authoritative or unique? Or maybe it doesn’t have to be unique – maybe it can just be branded as the “in” thing by making yourself indispensable to your topic.
It’s not rocket science. But it does take a dedication to getting your name out there, gaining the momentum to position your brand in an effective manner, and then selling as hard as you possibly can (without appearing you are trying at all).
Yes, the formula is simple. But there’s a reason why most of us don’t have our own island.
September 9, 2007 at 9:06 am |
Truly successful top name brands create a self-sustaining sense of exclusivity.
Sometimes, a luxury item isn’t always the best product. But as these luxury items are often associated with high fashion, practicality and utility aren’t always considered too deeply.
After all, if you’re an aspiring socialite, practicality is a distant second to being seen to be with the latest trend every time…
May 1, 2008 at 7:21 pm |
Branding is very important. Nice point. How many times have we seen a good cheap shirt and didn’t buy it because it wasn’t Gucci or Prada.