I'm not a huge fan of fashion labels but am fan of shoes.
Saw this brand's PDF case study with some torn muddy shoes for a whopping $1800 a pair.
What?
Reading the brand name, I assumed it was some Lebanese king on the rampage. Before reading about the case study a friend forwarded, with this brand, I had to learn how to utter the brand's name, praying that none of the letters were silent (wink). "Buh-len-see-ah-gah" was how I said it. However, I considered to see what I could discover when I saw some real weird products at exorbitant prices. Balenciaga, the fashion industry's tongue twister, has us scratching our brains when we pronounce it. This Spanish-born label, which commands attention and vocal gymnastics, gives high couture a quirky twist.As few blogs said, Balenciaga is a contentious fashion house noted for its experimental designs that blur the line between art and fashion. It has garnered global acclaim for its avant-garde designs and high-end products. However, its success cannot be solely attributed to creative aesthetics and craftsmanship.
Balenciaga employs a range of psychological strategies that play a pivotal role in captivating consumers and driving sales something which I was interested in.
Exclusivity and Scarcity: Balenciaga excels at instilling a sense of exclusivity and scarcity in its products. This illusion of scarcity and desirability is fuelled through limited editions, unusual partnerships, and regulated product launches. This activates the fear of missing out (FOMO) phenomenon, driving consumers to make impulsive purchases in order to get these rare things before they disappear from the market. Balenciaga increases the perceived worth of its items by cultivating a sense of uniqueness and exclusivity, making them highly sought after by fashion aficionados.
Social status: Balenciaga's strategic positioning as a symbol of high social status and luxury is a significant driver of the brand's success. Balenciaga uses aspirational marketing by associating its brand with celebrities, influencers, and fashion icons. Consumers seek to replicate their idols' lifestyles and appearances, and purchasing Balenciaga products becomes a way for them to demonstrate their own social position and distinction. The deliberate maintenance of this brand image by Balenciaga creates a sense of exclusivity, making consumers feel like they are part of an elite community.
Emotional Branding and Storytelling: Balenciaga recognises the importance of emotional branding and storytelling in building strong bonds with customers. The company expertly weaves storylines around its products, establishing an emotional connection with its consumers. These tales may focus around the inspiration for a specific collection, the rigorous craftsmanship required, or the one-of-a-kind experiences associated with wearing Balenciaga. Balenciaga builds brand affiliation and commitment by eliciting emotions such as intrigue, appreciation, or amazement. Because the brand gets connected with their personal identity and self-expression, emotionally engaged consumers are more inclined to choose Balenciaga over competitors.
Influencer Marketing and Social Proof: Balenciaga leverages the influence of social proof through strategic influencer marketing. Collaborating with influencers who possess a substantial following and embody an aspirational lifestyle allows the brand to reach wider audiences and tap into their influence. When consumers witness trusted influencers endorsing Balenciaga products, they are more likely to perceive them as desirable and high-quality. This perception is reinforced by the influence of social proof, as consumers believe that if the products are favored by influential figures, they must be worth the investment. This psychological phenomenon plays a crucial role in shaping consumers' purchase decisions.
Minimalism: Balenciaga's minimalist and futuristic designs appeal to customers seeking modernity, innovation, and a break from established fashion norms. With unique silhouettes, exaggerated proportions, and experimental materials, the brand continuously pushes the envelope. Balenciaga capitalises on consumers' need for self-expression and originality by portraying itself as a trailblazer. The capacity of the brand to disrupt established standards and rethink fashion traditions attracts to consumers who want to make a big statement. Balenciaga attracts customers who want to reflect their personality via their fashion choices by presenting distinctive designs that stand out from the crowd.
The brand's ability to understand and tap into consumers' psychological motivations has played a pivotal role in capturing their attention, cultivating desire, and fostering brand loyalty.
References:
1.Chevalier, M., & Mazzalovo, G. (2012). Luxury Brand Management: A World of Privilege. Wiley.
2.Fournier, S. (1998). Consumers and their brands: Developing relationship theory in consumer research. Journal of Consumer Research, 24(4), 343-373.
3.Kambitsis, C., Pantouvakis, A., & Dimara, E. (2012). Branding places: Applying brand personality concept in place branding. Journal of Place Management and Development, 5(1), 80-93.
4.Muntinga, D. G., Moorman, M., & Smit, E. G. (2011). Introducing COBRAs: Exploring motivations for brand-related social media use. International Journal of Advertising, 30(1), 13-46.
5.Pine, B. J., & Gilmore, J. H. (1998). Welcome to the experience economy. Harvard Business Review, 76(4), 97-105.
