The Thinking Cubicle

As a consumer, I have always been fascinated by the way luxury brands formulated their pricing strategies. The concept of luxury branding coupled with premium pricing has been known to mankind since time immemorial. The differentiating factor that compels customers to purchase these products irrespective of the price is the emotional storytelling associated with it.  Luxury brands have been able to leverage the EQ (emotional quotient) of their customers through effective storytelling which is the main reason behind their success. To understand this better, I would like to quote some examples: 1. Louis Vuitton: the luxury fashion brand is known for its high prices across all its products, from handbags to clothing. The brand portrays exclusivity and timeless elegance, suggesting that owning its products elevates the owner’s status and reflects refined taste.  2. Porsche: the luxury car brand promotes luxury and defines their owners as rare as their vehicles. Porsche performs in...

  I guess a lot of us felt a sense of comfort upon encountering with Canvas's new Ad,  'Gaurav's Farewell'  Such Ads are rare when we really don't want to click the skip button, success of marketer, a true masterpiece in storytelling. Advertisements are a great way to connect with consumers and Canva through it's recent advertisement has strike all the right chords. The story navigates the journey one encounters in their corporate life.  The brand has been successful in resonating itself with the youth for whom Canva is everything. As MBA students, we do spend a considerable amount of time in Canva, creating multiple presentations, meeting deadlines. This is something that we start with and will be doing for the rest of our careers.  Through this advertisement Canva has been able to connect with both the past & future of the life of a corporate employee creating a sense of nostalgia & reflecting upon the journey they have carved so far.  While MBA's...