Beauty for All: The Future of Prestige at Mass
By: Alison Aidlin, Elizabeth Del Pozo, Devin Homsey, Anahita Mekanik and Liza Rapay
Posted: August 26, 2011
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Product Assortment: A special balance between core and limited offerings. Core products that she expects to find and limited offerings that are unexpected, injecting newness and creating excitement.
Micro Marketing: Mass marketing is a strategy of the past; micro-marketing is a new way of satisfying her demands. With access to consumer information, we can now better localize and segment our offerings.
Digital Connectivity: We are all chasing digital insights. Let’s transform the quantitative data mining into a qualitative experience that is more relevant and useful. Lynne Greene said it best, “Follow the behavior. Lead the thinking. Capture the heart.”
Social Responsibility: Michael Porter of the Harvard Business Review said, “There’s a connection between competitive advantage and social issues.” This is crucial to the Millennials who are more diverse ethnically, socially, and economically than any other generation in history. Brands cannot ignore their power.
The brands that make a mark on us fully engage our five senses. They have in common that indefinable love factor we instinctively recognize. As Kevin Roberts, CEO Worldwide of Saatchi & Saatchi says, "The senses are the fast track to human emotions." Lovemarks such as Cirque du Soleil offer their fans an experience in which they can inject their own emotions, fantasies, taste and smells.