Symbols
Summary
Creating products to express aspirations.Key Concepts
- We buy symbolic products and services, not just for their functional and emotional benefits, but also because they express what we want to be.
- A relationship with the creator of a symbolic product or service, and the experience of buying it, add to the sense of specialness around it.
- Luxury brands have deep roots in social psychology.
- Balancing a sense of exclusivity with the commercial imperative to sell volumes of products can make it challenging to tell a convincing story about scalability that will appeal to non-specialist investors.
