Aspirational brand

Aspirational brand

In consumer marketing, an aspirational brand (or product) is one that a large segment of its exposure audience wishes to own, but for economical reasons cannot. An aspirational product implies certain positive characteristics to the user, but the supply appears limited due to limited production quantities.

An important characteristic of an aspirational product is that the part of its exposure audience that is at present economically unable to purchase it, thinks of itself as having a fair probability of at a certain point in the future being able to do so. This part of the exposure audience is referred to as the aspirational audience, whereas the part of the exposure audience that already can afford the product is called the consumption audience. Consumption audience and aspirational audience together form the aspirational product's target audience, which typically represents 30%-60% of the exposure audience Weak aspirational brands have target audiences that are almost as large as their exposure audiences (e.g. mp3 player brands), and are therefore slowly becoming commodity brands, e.g. brands with consumption audiences that coincide with the exposure audience (and therefore, brands without an aspiring audience).

As a general rule, an aspirational brand and its products can command a price premium in the marketplace over a commodity brand. This ability can to a large extent be explained by the consumer's need for invidious consumption for which he is willing to pay a premium. The smaller the size of the product's target audience compared to the exposure audience, the more the product satisfies this need, and the higher the premium that such a consumer is prepared to pay.

The larger the ratio of aspirational to consumption consumers in the target audience, the higher the brand's premium, e.g.Maybach cars. To keep the premium level of a brand high, the consumption portion of the audience should not exceed 30% of the aspirational audience.


Wikimedia Foundation. 2010.

Игры ⚽ Нужна курсовая?

Look at other dictionaries:

  • aspirational brand — ➔ brand1 * * * aspirational brand UK US noun [C] ► MARKETING a brand of goods that people believe is of good quality and that will make them feel successful if they own it: »An aspirational brand will almost always be more expensive than other… …   Financial and business terms

  • Brand architecture — is the structure of brands within an organizational entity. It is the way in which the brands within a company’s portfolio are related to, and differentiated from, one another. The architecture should define the different leagues of branding… …   Wikipedia

  • brand — ▪ I. brand brand 1 [brænd] noun [countable] MARKETING a name given to a product by a company so that the product can easily be recognized by its name or its design: • Virgin s aim is to ensure that all its products and services match and exploit… …   Financial and business terms

  • commodity brand — UK US noun [C] MARKETING ► a brand that is connected with a common product such as water or coffee that is difficult to make different from its competitors → Compare ASPIRATIONAL BRAND(Cf. ↑aspirational brand) …   Financial and business terms

  • Outline of marketing — The following outline is provided as an overview of and topical guide to marketing: Marketing refers to the social and managerial processes by which products, services and value are exchanged in order to fulfil individuals or group s needs and… …   Wikipedia

  • List of marketing topics — This is a list of marketing topics. Marketing fundamentals * [ [Marketing] * Consumer * Business Marketing * Core * Customer ** Customer lifetime value (CLV) ** Customer relationship management (CRM) * Marketing mix * Marketing orientation, also… …   Wikipedia

  • Topic outline of marketing — For a more comprehensive list, see the List of marketing topics. Marketing refers to the social and managerial processes by which products, services and value are exchanged in order to fulfil individual s or group s needs and wants. These… …   Wikipedia

  • Ferrero Rocher — are spherical chocolate sweets made by Ferrero SpA.The sweets consist of a whole roasted hazelnut encased in a thin wafer shell filled with nutella/hazelnut cream and covered in milk chocolate and chopped hazelnuts. The sweets contain… …   Wikipedia

  • Rugby Ralph Lauren — Infobox Company company name = Rugby Ralph Lauren company company type = Subsidiary foundation = October 23, 2004 location = New York City, New York, USA key people = Ralph Lauren, Chairman CEO num employees = industry = Lifestyle stores products …   Wikipedia

  • Chanel No. 5 — No. 5 Bottle of Chanel No. 5, Eau de Parfum version. Fragrance by Coco Chanel Description Floral aldehydic feminine fine fragrance …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”