Decoding the Secrets of Luxury Branding
- Part 1 Decoding the Secrets of Luxury Branding
- Part 2Crafting Stories in High-End Markets
Show Notes
-
01:53John's background in hospitality marketingJohn has spent most of his career in hospitality marketing, on both the client and agency sides. As CMO for Steve Wynn, he launched Vegas brands like Mirage, Treasure Island, and Bellagio, and later went on to lead a successful agency specializing in luxury hotel marketing.
-
04:21The success of WynnSteve Wynn's success with Wynn Resorts stemmed from his focus on treating guests exceptionally well, creating a quality experience that everyone craved. His attention to detail made every aspect of his resorts contribute to a feeling of happiness for guests.
-
06:36Mistakes in luxury brandingLuxury brands are going wrong by focusing too much on superficial aspects and not enough on creating unique and emotional experiences. Beyond tangible aspects, customers are becoming savvier and increasingly expect experiences that cannot be duplicated.
-
08:24Developing a luxury brandCreating a luxury brand involves focusing on every detail of the customer journey, from the initial encounter to after-sales service. This includes product design, packaging, presentation, and customer service, working together to create a feeling of comfort, confidence, and satisfaction.
-
11:47Luxury market trends and pricing sustainabilityWhile affluent consumers continue to spend on luxury experiences, they could become disenchanted with price hikes. The rapid escalation of prices in sectors like hospitality requires a corresponding increase in value and service to mitigate customer pricing structure pushback.
Quotes
-
"Luxury is moving into the sphere of experience more than tangible things. It's about creating experiences and products that in and of themselves are unique and cannot be duplicated." - John Schadler
-
"It's a continuous cycle of confidence and honesty that a brand must exude in the luxury space that makes the consumer feel comfortable and at ease with their purchase." - John Schadler
-
"Affluent people will continue to spend and seek out the best experiences and products. But, we may be reaching a limit where even an affluent market is going to become disenchanted with what appears to be price gouging." - John Schadler
-
"When it comes to luxury, it's about touching all those sensory points with the ultimate goal of how a luxury product or service makes you feel." - John Schadler
-
"The expectation is that for todays accentuated prices, there must be an equal level of service, value, and experience. That's where people will start to become disenchanted with the pricing structure we're seeing today." - John Schadler
- Part 1 Decoding the Secrets of Luxury Branding
- Part 2Crafting Stories in High-End Markets
Up Next:
-
Part 1Decoding the Secrets of Luxury Branding
John Schadler, Executive Director of Monogram, delves into storytelling in luxury brand marketing. The landscape of luxury has evolved beyond the tangible into the realm of emotional and distinctive experiences. Thus, luxury brands must pay meticulous attention to detail throughout the entire customer journey, from initial interaction to post-purchase care. Today, John discusses decoding the secrets of luxury branding.
-
Part 2Crafting Stories in High-End Markets
John Schadler, Executive Director of Monogram, delves into storytelling in luxury brand marketing. Effective storytelling, even in the realm of luxury brands, doesn't rely on complex narratives or flashy gimmicks. The most impactful stories are often rooted in simple human truths that resonate deeply with audiences. Today, John discusses crafting stories in high-end markets.
Play Podcast
