The Power of Branding and Packaging
$50 nail polish? Really? But are you really buying nail polish? Christian Louboutin has done it. “Rouge Louboutin”
“In it’s most-coveted nail lacquer debut from one of fashion’s most iconic footwear designers. The bottle is an objet d’art. The formual is exquisite, in a signature shade with a patent leather finish.”
This truly is a great study in marketing, packaging, branding, name recognition, status and a brands signature. There is a lot to be learned from this “objet d’ art”.
Some will be running out to buy it - just to say they were the first and that their nails now match the bottom of their shoes. Other will scream “ridiculous!! I would never pay $50 for a bottle of red nail polish”
Louboutin knows his client - and he never for one minute thought “how can I compete with Sally Hanson nail polish that sells for $6-$8”.
He designed a bottle that resembles his famed shoes… a bottle like no other. “The cap is a full 7 inches - the same height as the famed Ballerina Ultima shoe.”
It is sold out on sephora.com. SOLD OUT!
Dig deep here for a second….. Would you buy it? Do you believe there are plenty of women who would? Do you feel sort of outraged that any sane woman would spend $50 on a bottle of red nail polish?
Our own feelings about how we spend money directly affect the way we price our products in our photography businesses. The perceived value of our own work often drives the way we price. The reality is there is a price for everybody and knowing your market is the key to pricing.
Have you created a recognizable brand? (the color red at the bottom of a shoe) Have you designed your business to be worthy of the price you ask? (top quality, packaging, customer service, perceived value)
In most cases when a person says “the prices are outrageous” what they are really saying is “I can’t afford that”. This is not a bad thing as long as we understand that there are people willing to pay for what they can afford when they feel they are buying something outrageous. I’m willing to bet that Christian Louboutin shoe wearers are buying this bottle of “Louboutin signature red” nail polish.
I might just buy a bottle - not to wear but to put on my desk as a reminder of the power of branding and creating a signature that some consumers are willing and able to pay for. A bottle of red nail polish that will be a visual reminder of the way I would like to brand my own business.
I can promise that my photographs will outlast that bottle of nail polish.
Interesting? Isn’t it?
(*screen shot from Sephora email)