Today’s
Vocabulary
(1) Essential: Needed
Hard work is essential to success.
(2) To go together: To work well together or happen at the same time
French fries and coke go well together.
(3) To define: To explain the essential characteristics
We’re defined by our commitment to quality.
Today’s
Questions
1. Which company is successful despite performance problems?
a. Hermes
b. McDonald’s
c. Dell
2. How can we define performance for an umbrella?
a. Stylish
b. Keeps you dry
c. High price
3. Which is NOT important for performance at McDonald’s
a. Health
b. Taste
c. Speed
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GLOBAL MARKETING TUESDAY
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By Jeremy Schaar
This is Part 5 in a series of posts on luxury brand elements. In an earlier post, I presented the 8 Ps of luxury brands. I’ve also discussed paucity, persona, and placement in detail.
In today’s lesson, you’ll learn about performance. You’ll learn how to define performance and check out a few companies that focus on performance.
Performance simply means doing a job well. We might think of it as an essential characteristic of any brand, but it’s not true. Many products are successful despite not doing what they should do. For example, think about your computer. How many times has it stopped working? How many times has it performed poorly? Nevertheless, you continue to use it because some other things are more important than perfect performance.
However, performance and luxury don’t have to go together. Here are two brands with excellent performance.
senz° umbrella: An umbrella that keeps you dry and won’t break. It words because of its unique design. It has really amazing performance. This umbrella has a higher than normal price, but not so much that we would call it luxury. It’s just really good.
McDonald’s: McDonald’s certainly isn’t a luxury brand and their food is not healthy. But taste and speed define performance for McDonald’s and, in those areas, they always succeed. To create the great taste, McDonalds invests heavily in finding the perfect flavors. Here’s an interesting article on why McDonald’s fries taste so good. The result is one of the best performing brands in the world.
Got questions or comments? How about practicing some new vocabulary and posting your thoughts on the blog, Facebook, or Twitter?
