Decisive preference shaping in a postcrisis enviroment functional: superior functionality and quality. • longer decision making process • rational and logical decisions reward: showcase their achievements. • desire to be successful and demonstrate this to others. • ‘smart’ luxury demonstrates importance selfindulgence. • willing to pay a premium: goods express themselves. • They enjoy luxury for the way it makes them feel • more emotional approach to purchases. favorite brands, but want them at lower prices product innovation cause marketing Multi-channel accessible, mystique relationship while retaining a brand's Dilemma of perceived • Explore the gap vs. actual value Rewards Educate customers about the reason behind paying price • Money value • Personal value • Staff is essential Styling Customer coaching Quality of staff Create occasions Communicate Offer entry points Buzz marketing Same, clean look of ads What kind of promotional strategy? Preference for e-mailing Personal reward is important Personalization of message Have them attend an event rather than a promotion Successful retail locations operate on an event-based marketing scheme. Novelty and innovation need to be communicated Inspire lifestyle Connect to senses – furniture, art, light, music, scent Visibility and character of the signage Availability of options is key Did they learn anything new? Less is more product memorable Staff: brand related. Knowledge. Pleasant. Consultative selling: offer the options. Handle objections. Support the decision. Emotional intelligence: know when and what to say or not. Do you know what they don’t like about your brand? Do you know what they wish? Do it.