What Can Agribusiness Learn From Luxury Brands?€¦ · What Can Agribusiness Learn From Luxury...

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What Can Agribusiness Learn From Luxury Brands? Toby Bekkers 2017 Nuffield Scholar McLaren Vale, S.A.

Transcript of What Can Agribusiness Learn From Luxury Brands?€¦ · What Can Agribusiness Learn From Luxury...

What Can

Agribusiness Learn

From Luxury Brands?Toby Bekkers

2017 Nuffield ScholarMcLaren Vale, S.A.

Australian Agribusiness

What we do well:

Turn natural capital into great products.

What we don’t do as well:

Inspire the customer to pay a premium.

Objectives

Increase demand and the premium

paid for all Australian wine.

• Examine the characteristics of luxury brands.

• Suggest which elements are transferrable to

Australian wine.

Luxury Products“Beyond Necessity”

• High quality.

• Price disconnected from production cost (high margins).

• Rarity/scarcity.

• Craftsmanship and authenticity.

• History and heritage.

• Outstanding service.

• Control of distribution and pricing.

You don’t aspire to be a

Luxury Brand?

So what?

You can still apply these principles

to your agribusiness.

Three Common Themes

1. Luxury brands understand their unique

“brand identity.”

Purpose- World Class

Purpose

“We have our identity and the

customer gravitates towards us”.

Heritage

Focus

Three Common Themes

2. Luxury brands understand the

emotional drivers of consumption.

Tools

Apply Customer Led Design concepts to

storytelling:

Test stories to determine which resonate with

consumer emotions.

Three Common Themes

3. Luxury brands demonstrate

consistency of image and actions.

Wrap the brand I.D. in stories that align with identified

emotions.

“Selling a dream…”

“Great graphics will keep an audience entertained for

about two minutes. Great story keeps them in their

seats for ninety.”Lawrence Levy, CFO, Pixar.

Emotion

Authenticity

ConsistencyIconography

Experiences

Consistency of image

Takeaways• Understand your unique Brand Identity.

• Accept that the customer is buying more than a product.

• Seek to understand the customer’s underlying emotional drivers of consumption.

• Customer Led Design may be adapted to understand customer’s emotional drivers.

Takeaways

• Maintain a consistency of image, stories and

language that mesh with the Brand I.D. and client

emotions. Conduct a simple audit to see which

elements are sending conflicting messages.

And another thing…

• Pride and confidence in one’s industry

and product are essential to success.

Toby Bekkers

Bekkers Wine, McLaren Vale, S.A.

[email protected]

0408 807 568