Business Guide

business   »  marketing   »  brands   »  aspirational brand strategy explained

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.

3 Shares Google Twitter Facebook

Related Articles

The complex symbol of your customer experience and products.

What project managers can learn from investment bankers.

Hype and misinformation incorporated.

Everything you wanted to know about commodities but were afraid to ask.

Fail fast is a business strategy that quickly, cheaply and safely validates approaches before committing to a big investment.

Recently on Simplicable

Business Definitions

posted by John Spacey
Simple and applicable business definitions.

20+ Product Differentiation Examples

posted by Anna Mar
How to make your product stand out in a crowded market.

How to Challenge Mediocrity

posted by Anna Mar
The biggest obstacle to innovation is unquestionably mediocrity. How to tackle it.

Authenticity Principle Explained

posted by Anna Mar
Marketing messages that align with the realities of your business, brand, corporate culture and customer experience are more effective.


about     contact     sitemap     privacy     terms of service     copyright