WSJ: How do you keep tabs on the positioning of your brands?
Mr. Polet: We get real data -- market surveys from the Luxury Institute in the U.S., for example -- and continue to monitor the health of all of our brands.
The Luxury Brand Status Index (LBSI) is the only independent and impartial measure available of the value and equity of leading luxury brands to wealthy Americans, based on statistically meaningful data collected from wealthy consumers themselves. The annual Luxury Brand Status Index survey is a proprietary survey methodology and index developed by The Luxury Institute that guides our company-based subscribers.
The LBSI incorporates four main "pillars" of brand value:
Consistently superior quality
Exclusivity and uniqueness
A measure of enhanced social status
A measure of the brand's ability to make a customer "feel special"
In addition to individual and composite metrics by age, gender, income and net worth segments among the wealthy, the survey also measures a brand's ability to merit a significant premium price and referral from wealthy consumers. One advanced qualitative feature is actual consumer comments as to why they will, or will not, recommend each brand.
The LBSI delivers to senior management a concise quantitative and qualitative tracking study to be measured year-over-year and used as a guide to drive key management decisions. It is used by the world’s most prestigious luxury brands.
LBSI - Universities 2007
Several LBSI surveys are conducted each year. To inquire about the 2007 and 2008 data currently available for sale as well as upcoming surveys (each individually priced) please contact Martin Swanson at (914) 909-6350 or via email at mswanson@luxuryinstitute.com.
Luxury Customer Experience Index (LCEI) Surveys
The annual proprietary Luxury Customer Experience Index (LCEI) is the only impartial and independent measure available of the actual customer experiences and other critical experience-driven metrics of leading luxury brands to high net worth Americans, based on statistically meaningful data collected from actual brand customers themselves.
The LCEI incorporates four main "pillars" of brand value:
Experience Drivers Index
Price Worthiness Index
Customer Retention Index
Customer Referral Index
Survey respondents are asked to evaluate luxury brands they have recently used on a 0-10 scale. These ratings provide unique category insights and benchmarking data of all major competitors and their ratings directly from the voice of actual high net worth customers. One advanced feature is authentic consumer comments as to why they will, or will not, recommend each brand.
The LCEI delivers to senior management a concise quantitative and qualitative tracking study to be measured year-over-year and used as a guide to drive key management decisions. It is used by the world’s most prestigious luxury brands.
Several LCEI surveys are conducted each year. To inquire about the 2007 and 2008 data currently available for sale as well as upcoming surveys (each individually priced), please contact Martin Swanson at (914) 909-6350 or via email at mswanson@luxuryinstitute.com.
