1 x design sheet outlining relevant contextual research
This design sheet must include at least 4 relevant areas of contextual research/information that will inform your design strategy. At least 1 of these areas must be related to your chosen CoP theme (Politics, culture, society, history, technology or aesthetics).
Some suggested contexts: Client / project background | industry / sector | cultural aspects | sub culture | specific technologies | the internet | social media | historical periods | branding | advertising | colour theory | psychology
Trading Up : Why Consumers Want New Luxury Goods - and How Companies Create Them.
Michael J. Silverstein and Neil Fiske
(BOOK)
- People will spend money on premium goods, no matter what was happening in the political, economic, or social environment. (There is always a demand.)
- Trading-up consumers tend to be well-educated. They 'protect' luxury items in their household budgets. (They make sure they can afford these items, they become a normal part of their spendings.)
- 4 emotional forces, the need to...
'take care of me'
connect
quest
seek individual style
It's about making a difference in their lives. (this needs to be taken into account within the design.)
- 'in key New Luxury categories, including homes and home renovation, transportation, food and beverage, travel and entertainment, personal items, dining out, home goods, and apparel and other fashion items.'
- It is a fast growing, durable and widespread market.
- It works by fulfilling dreams.
- 'They create appealing identities, rich graphics, stunning retail presentations, and engaging shopping experiences.'
- Cost does go into luxury products.
- They create product apostles (people that support and follow the product/brand religiously.)
- 'Driven by the middle-class consumer who is educated, discerning, and ready to engage in the goods and services they consume'. (Middle class consumers want to appear wealthy by showing off their products, but also want to buy into the quality that they know will last).
- Goods to help alleviate the stresses of modern life and to help realise consumer aspirations. (consume our way out of depression, escape from reality)
- It is a positive phenomenon:
low-cost goods become more available and are higher quality
consumer pressure leads to innovation
more affordable and available to more people
- New Luxury - products and services that possess higher levels of quality, taste, and aspiration than other goods in the category but are not so expensive as to be out of reach.
- Example of a guy that buys premium golf clubs - 'they make me feel rich'
- 'Products make people feel happy, like a better person, less stressed, prouder of their children, loved and appreciated, and accomplished.'
- Emotion about products
- Many trade up to manage feelings of stress and difficulty.
- Looking for an emotional lift.
- Accessible superpremium:
priced at or near the top of their category
affordable to middle-market
relatively low-ticket items
- Old Luxury brand extensions:
lower-priced versions of products
brands traditionally affordable only for the rich
- 'Masstige' goods (mass prestige):
between mass and class
premium over conventional products but priced well below super-premium or Old Luxury goods
- New Luxury goods are always based on emotions, consumers have a much stronger emotional engagement than other goods.
More intense with long-lasting, big-ticket items.
- Old Luxury goods:
status, class and exclusivity
- Consumer's buying habits do not always conform to their income level.
- Post World War 2:
put the pain of war behind them
- Women new dominant role, working, earning, higher salaries - women feel they have the right to spend on themselves.
- Sophisticated and discerning consumer with high aspirations and substantial buying power and clout.
- Single working people in their twenties (more likely to buy into luxury items).
- It's about looking after number one, rewarding themselves and building their self-esteem.
- A category where existing goods do not connect with consumer emotions - or produce negative ones - New Luxury candidate. (this is what I could potentially focus on finding something that doesn't have this and creating that for the brand).
This book has raised some interesting points for consideration which can help to inform my practical design piece. The book talks about luxury in quite a positive sense suggesting that it does a lot for growth and development within society. This is something that I hadn't properly considered as I am more aware of the social control aspect of the concept of luxury. I am also now aware of the emotional link a luxury product needs to form for it to be successful
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