Luxury tier: the keys to product elevation
- Area: Product Development
- Key Area: Brand Relevance
- Sector: Homecare
- Type: Mastercalss
Context
When it comes to products tier, luxury is usually in opposition to FMCG. This does not mean that a luxury strategy cannot be applied to a FMCG product. Working with a brand consultancy, I developed a luxury strategy for a multinational consumer goods company.
Delivery
II suggested that the client enlarge its views on luxury positioning from a price-point perspective into an experiential one, and I introduced the model of the 'Augmented Luxury Product' as an effective blueprint for product elevation.
Project
The aim of my work was to provide the FMCG-company with specialist knowledge about the features that characterize luxury products, and identify those elements that would allow them to successfully launch a new premium household product.
Impact
The newly gained insights into the strategy for product elevation enabled the company to adapt their product design, distribution, and communication processes accordingly, while leveraging the consumer perspective towards premium and luxury products.
