In marketing luxury real estate, being a market leader is not always a picnic. Why? As a market leader, you are often the target of many challengers. Just look at the onslaught of competition that the icon brand, Apple, is now facing.
Apple is known for consistently innovating, and introducing entirely new categories of products and services. The company became the market leader by creating brand new markets that did even exist before.
Along comes challenger, Samsung with an interesting brand strategy. They recently spent over one-half billion dollars on advertising trying to convince consumers that Apple is now yesterday’s news with their smart phone slogan, “The next big thing is already here with The Galaxy S3 and even more recently, the S4.
Essentially, Samsung’s strategy is to create the perception that Apple is no longer the cool, hip contemporary brand, “it once was”. Instead, they want consumers to believe that Apple is now the more conservative heritage brand, not the edgy contemporary brand. Apple used this very same strategy in their highly successful advertising campaign comparing Macs to PCs depicting Microsoft as the stogy heritage brand.
But, one thing is for sure: Apple is not going to sit on their laurels. Nor, should you if you are the incumbent market leader in your luxury real estate marketing practice.
Prior to the introduction of the iPhone in 2007, Blackberry enjoyed its stint as a market leader in smart phones (especially in corporate America) by combining the Personal Digital Assistant (PDA) with secure email and some Internet browsing. They were late to the table in adapting the touch screen and an operating system to support it, not to mention supporting an eco-system of app developers.
Blackberry, is finally trying to catch up. Even CEO, Thorsten Heins, said that Apple’s iPhone is not the state-of-the-art smart phone it once was. In fact, it’s starting to look a little dusty, according his Wall Street Journal interview. Is this actually true? Maybe it is not. But, in our opinion, his remarks reflect a brand strategy of piggy-backing on Samsung’s attempt to dismiss the reigning market leader, Apple, as old.
Blackberry discovered that if you do not keep pace with the speed of innovation, you could easily be replaced. But, this does not apply only to the world of high-tech.
On Melrose Avenue directly across the street from the Pacific Design Center is the architecturally contemporary home accessories showroom of Robert Kuo, (pictured above). Originally, Kuo brought the magnificent art of cloisonné to America, but with a modern twist. He utilized the influences of Art Nouveau and Art Deco and introduced new shapes and finishes to this ancient art, which brought him notoriety. His work can be seen in the National Museum of Taipei and in exclusive international hotels. Now, his sophisticated designs have taken organic forms.
So, let this be a lesson to those of you who are market leaders in your luxury real estate marketing practice. Be complacent at your own risk. Innovate, Innovate, Innovate!
This blog posting has been provided by Ron and Alexandra Seigel, the Language of Luxury Community Founders and managing partners of Napa Consultants, International, the leading luxury real estate strategic marketing firm. They specialize in personal and company branding, luxury real estate website design and social media marketing. Photos courtesy of Ron and Alexandra.