The management of exclusivity to increase the price of products

Hello friends of Projec HOPE, I hope you are all well, today I want to talk based on a video I was watching, about how luxury brands use what they call exclusivity to be able to sell. Everything is much more expensive, without necessarily meaning that they are selling the highest quality they could sell.

Worse at the market and marketing level, managing exclusivity is a great tool to increase the price of products. Logically, it is not a new strategy, but it is still highly effective in positioning products in the market and attracting a specific segment of consumers who value "exclusivity and are willing to pay more for it."

In general terms, exclusivity in a product refers to its limited availability and the restricted access that consumers have to it. This can be achieved in a variety of ways, such as limited editions, customization, or controlled distribution in certain markets or select stores. The idea is to create a perception of rarity and added value that justifies a higher price.

This has some interesting points that I would like to highlight, starting with the psychology behind exclusivity, which is simple but is very effective. Human beings tend to value more what is scarce or difficult to obtain. When a product is exclusive, additional demand is created not only for its intrinsic quality, but also for that "perception of status and prestige that it grants to the owner". This is evident in industries such as fashion, luxury automobiles and high-end watches, where exclusivity is a key factor in justifying high prices.

I have seen that companies tend to use certain strategies to apply this, for example, they make limited editions of a product, they make collaborations and alliances with celebrities, they make customizations, or they sell some products in very select stores, in short, they use different tools so that that feeling of exclusivity is felt in the final price of the product.

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Clear examples of this are brands such as Rolex, Hermès and Ferrari, they are a clear example of how exclusivity can increase the price of a product. These brands not only offer high-quality products, but also limit their availability, collaborate with influential figures, and maintain selective distribution. The result is a customer base willing to pay a hefty premium for the privilege of owning something exclusive.

I even know of people who collect Rolex watches, as a way to back up their money, they see it as an investment, since being exclusive, they do not depreciate, but rather continue to increase in price year after year. It is a very particular world that, undoubtedly, is not for everyone. Greetings, I hope you have enjoyed this post, I would like to know what you think about it. Good weekend.

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