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Aspirational Brand Strategy Explained

        posted by , June 03, 2013

What Is It?

People want what they can't have.

Aspirational branding is a marketing strategy that prices a product out of the reach of most of the customers who want it.

This creates a pool of customers who aspire to buy the brand in the future. This is known as an aspirational audience. An aspirational audience are interested in the brand and plan to buy it when it's within their budget.

Definition: Aspirational Brand

An aspirational brand is a brand that's intentionally priced out of the reach of many the customers who want to buy it.



Aspirational Branding Strategies

Aspirational branding only works when you're able to create a strong reputation for quality, fashion or features. The following strategies are associated with aspirational branding.

  1. Premium Pricing: prices are set to maintain a ratio of aspirational audience to customers. At the top end, only a small percentage of the people interested in the brand are actually buying it. If a high percentage of the people interested in the brand are customers, it's no longer considered a aspirational brand.

  2. Social Proof: aspirational customers are typically motivated by the social status of your products.

  3. Soft Sell: promote an image not a product.

  4. Niche Marketing: aspirational brand categories such as fashion are extremely competitive. A niche strategy is often used to avoid competition with stronger brands.

  5. Storytelling: an aspirational brand needs to be interesting.



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