Creating Brands That Provide Psychological And Social Benefits Beyond The Product
Many brands go to great lengths to provide us with the best quality, most innovative products available. But what if our desire for their products wasn’t rooted in how well they function or how fashionable they are? What if we sought a brand for the psychological and social benefits it can provide beyond the product?
Many people today are looking for brands that can offer them more than just the physical benefits of a product. They want something that can serve as a social identifier and that they can be proud to say is theirs in either public or private settings.
In his book, The Experience Economy, Joseph Pine II and James Gilmore discuss how the most valued commodities of the modern economy are experiences rather than products. Successful brands like Starbucks and Whole Foods have given consumers what they’re looking for by offering experiences that range from a sense of community to the ability to connect with others who share their values.
The value of these brands isn’t defined by their products but rather by the shared characteristics and images tied to them. For example, Starbucks has done an excellent job of linking its brand with a kind of cultural sophistication in addition to one that is environmentally conscious.