- Index hide
McKinsey found that luxury special editions are so valuable that a significant second-hand market has even been unleashed.
BMW is one of the most valuable brands in automotive, according to an estimate from “Brandz — Top 100 Most Valuable Global Brands 2020”.
Just as BMW has collaborated with Koons, this artist has built ties with brands like Vuitton.
BMW It is one of the leading automotive brands and the performance of this brand has become crucial, to understand the capacity of a company’s reputation and the scope it must have in the market, where to carry out image actions such as presenting a vehicle intervened by Jeff Koons it becomes critical.
Jeff Koons is one of the most important artistic references and collaborations with the artist have become a very recurring commercial resource in luxury, where brands have even opted for measures such as high-cost products with products that are valued at up to 50 thousand pesos in its editions of basic designs, such as a shoulder bag from Louis Vuitton used (Troque).
In the last of the actions that we have seen with the artist, he has gone from collaborating with Vuitton to doing so with BMWturning this effort into a key guideline for the consumer, where a very important element has been consolidated, which is the interest that consumers have in this type of action.
These products are so important to the consumer that a luxury second-hand market has even sprung up, McKinsey investigated in a studywhere a predominant habit was discovered and that is that the 41 percent of the consumers involved in the investigation, revealed that through this activity they could have access to products that are difficult to obtain or that are no longer available in stores, due to the fact that they are special editions or from previous seasons.
Given these habits, the reputation of brands is more than based on special edition strategies, with which they can rethink their commercial proposal and thus take on new tasks that are crucial in the way of understanding the market.
To understand this industry, a very interesting activity has been consolidated, which is the one that has to think about the resources from which communication is promoted, to take on increasingly interesting sales challenges, such as those we have seen in the automotive market.
Within the automotive market, the brands that are part of the “Brandz — Top 100 Most Valuable Global Brands 2020” have managed to carry out a key exercise and that is to position themselves in the market with strategic actions as happened with Teslawhich thanks to its promise of innovation is the most valuable brand of this list with 75 billion dollarswhile Toyota reaches a brand value of $33 billion. BMW is the fourth most valuable brand on this list, with $27 billion.
“In 2009 we celebrated the 15th anniversary of the BMW Group in Mexico, with a special exhibition, where we had four vehicles in our country. BMW Art Cars of the artists Andy Warhol, Frank Stella, Roy Lichtenstein Y Robert Raushenberg.
It was extremely important for us to get the first BMW of production intervened by an artist of international renown, as it is Jeff Koons, was present in our country; to show our followers the vision of our brand BMW that goes beyond the perspective of a car and transforms it into a symbol of art. And so we managed to make Mexico the only country in Latin America to have this experience,” he assured. Maru Escobedo, CEO of BMW Group Mexico.
the key in marketing of this statement is the communication with the consumer of the value of a brand. own CEO was very clear warning that this type of artistic collaborations seek to remove products from their traditional sales scheme and turn them into a product of contemplation, so that their value is detonated and brand recall exceeds the sales catalogs of a department store. retail and go to auction catalogs or even unleash this luxury second-hand market.
Now read: