It's not the design of new products, but the news that it's been sold at a high price. A butterfly hair band with a price of 169 sold out in less than a few days, even nearly 100000 yuan, which can be said to refresh people's understanding. However, this bow is not a limited masterpiece of a major artist. It's just a new accessory from Nike, and its appearance is no different from ordinary bows. So why is a bow so expensive?



A bow costs 100000 yuan?



It is said that fashion is a samsara. In this year's Retro craze, the large bow hairpin element is particularly prominent. It can be worn minute by minute to become a Disney Princess on the run and a retro sweet girl in the 1990s.



It's also popular among stars.



Sports brand Nike also found this opportunity and began to develop into the fashion circle.



Recently, Nike launched several colors of bows, such an ordinary label decoration. The official price is 169 yuan, but someone asked 100000 yuan to buy it.



There is no difference between its appearance and ordinary bows. The difference is that there is a brand logo in the lower right corner.



Suspected Ouyang Nana and Wang Sicong are also on the queue, asking for this bow at a high price.



Interestingly, this purple bow, which is in short supply at home, only sells for $12 abroad.



At present, the bow has been out of stock in the domestic flagship stores. In a fashion goods trading app, the trading records of the bow are indeed several thousand yuan, and the highest transaction price is even nearly 40000 yuan.



On the tiktok, as long as Nike is searched, bow tie is the first to bear the brunt, and search for relevant short videos is also very much.



It seems that this product is not only very expensive, but also very popular.



Soon, the bow caused widespread controversy on the Internet:



As like as two peas, can I fly the bow, I can make a bow of Nike, and I can make a similar pair, embroidering a pair of ticks, "poverty limits imagination, and Nike is afraid to develop in luxury direction".



On HUPO, some netizens even wrote a satirical novel entitled "40000 you can't buy love, but you can buy this Nike bow.".



However, after the bow incident caused widespread social controversy, the product was officially taken off the shelves.



The reason why high price products can be accepted is because of brand premium



An ordinary bow, crowned with the "hat" of the Nike brand, can increase the price dozens of times; GE purchases China's Galanz microwave oven, pastes its own brand, and the price is several stalls higher than the original; the sports shoes that Nike bought for 120 yuan from China's shoe factory, because they are branded with the Nike brand, the price rises to more than 700 yuan.



Swarovski's man-made glass is not worth a few dollars, but it can still be sold at a high price and is popular



The reason why high price products can be accepted is because of brand premium.



Brand premium is what we often call brand added value. In other words, it is beyond the value of the product.



Brand premium depends on consumers' sense of "super value" of the brand.



For example, when you see Li Ning, Anta, Adidas and Nike at the same time, you only choose Nike, which is the selection function of the brand; when you can not only choose Nike, you are willing to pay for it and buy it repeatedly, which is the premium function of the brand.



Generally speaking, "super value feeling" comes from two aspects: the distinction of user identity and value identification.



1. Distinguish the identity class of consumers



There is not much difference between a bottle of mineral water for two or three yuan and a bottle of mineral water for twenty or thirty yuan. But why do many people like to drink more than 20 yuan a bottle of mineral water? Because one or two yuan of water is for drinking, and dozens of yuan is for taking photos and sending friends.



Similarly, Ruixing, which costs more than ten yuan, and Starbucks, which costs more than thirty yuan, even some so-called "coffee lovers" can't tell the difference.



Because these brands differentiate the identity classes of users.



2. Express the value identity of consumers



***It takes a lot of cost to maintain the history and culture, including maintaining the brand tradition, infiltrating the brand story, constructing the relevant mechanism of the brand, and promoting the unique brand culture; thus, the brand can become the carrier of some values and link the stakeholders.



Their value is to help stakeholders express certain values in their personal or professional life.



For example, the woman who chooses the Cartier leopard head ring wants to express the values of independence, wildness, independence but also gentle and beautiful.



Andy bechtolsheim, the first employee to apply to join Google and the first investor in it, not only likes its disruptive technology, but also because of its hypocrisy, relaxed culture and the ideal of providing a new lifestyle for the world.



As the hub of values, brand becomes the basis for stakeholders to seek personality, express themselves and connect with each other.



How to create high brand premium?



Reality is in front of us: for the same product, because of different brands, the price of the product and the acceptance of consumers are different.



Therefore, it is of great significance for the sustainable development of the brand to study the ability of brand premium and explore effective strategies to improve the power of brand premium.



So, how should enterprises create high brand premium?



1. Keep innovative spirit



In the current market with many brands, to compete with other brands, we must endow our products with more characteristics and carry out differentiated competition. Of course, the differentiation mentioned here is the differentiation of product functional characteristics, not the realization of low price. The brand premium that consumers pay more must be compensated by certain differentiation function, so that consumers are willing to pay.



The so-called "old people fry stocks, middle-aged people fry money, and young people fry shoes.". The sports brands represented by Nike not only turn the shoes into a kind of fashion, but also turn the shoes consumption into an economic phenomenon, giving birth to the popular shoe economy at home and abroad.



Although there are different opinions and opinions on the shoemaking economy in the market, from the marketing point of view, this is the great success of a brand and the great recognition of the brand by consumers.



A great brand must always walk on the road of innovation, innovation is the eternal truth of brand development.



Make complaints about Nike's AJ1 when it came out, and even spokesperson Jordan couldn't resist Tucao. 30 years ago, the shoe that was born in the curse was sold for 130 million dollars in the first year.



In the eyes of young consumers, nike shoes are not only a pair of sports shoes, but also a symbol of fashion, taste and even economic strength. Shoes can not only be worn on feet, but also be collected, sold and appreciated.



With the rapid development of economy, there are more and more homogeneous products in the market, which leads to less and less ability of brand premium. Only by focusing on product innovation, can the products under one's own brand be different from those of other brands and obtain higher brand premium.



2. Establish a higher brand image



In order to make brand premium natural and make consumers willing or even eager to pay for the premium, enterprises are required to create their own brand image which is higher than that of other brands in the eyes of consumers. With this image, the added value of the brand will come into being.



For example, the pricing of Wahaha and robust yogurt is 20% higher than that of local small brands, and Nestle milk powder is more than 25% higher than that of general domestic brands.



Therefore, we should try our best to create a big brand image. A good brand image is beneficial to establish a successful brand image in the hearts of consumers.



As a collection of all the associations of consumers to the brand, brand image reflects consumers' cognition of the brand and reflects the prospect of the brand in consumers' memory.



Even in China's home appliance industry, which has experienced a long period of time and seized the market through low-level marketing means such as price war, there are still brands like Haier who have rushed out of the encirclement of "gross profit killer" and become "world leader" in the world home appliance market.



Haier's international strategy of "first difficult then easy" has made a great effort to publicize that "the products sell well in Germany, successfully landed in the United States and all over the world. Haier people wish the Chinese people a happy Spring Festival", which has effectively established the image of a big international brand, and the premium ability has surpassed that of other big domestic brands.



3. Polish product quality



Product quality is the guarantee of brand, and brand depends on product quality.



If a brand wants to occupy the market, the first step is naturally the recognition of quality, which can be said to be the basic premise.



Many domestic brands with a history of 100 years are making quality, which has high brand value. But later, many old brand stores and products died with time, and few survived after market screening. However, LV, which has a long history of more than 150 years, not only exists all the time, but also stays at the forefront of luxury goods. Its brand value is immeasurable. Such outstanding achievements are inseparable from its exquisite craftsmanship.



LV has always taken the "travel philosophy" of advocating delicacy, quality and comfort as the design basis, and based on the characteristics of classic clothing brands with exquisite handcraft and noble style, it has exquisite details that are difficult to imitate.



Quality is always the basic condition for a brand to establish its position in the market. The combination of the word "quality" is of course inseparable from taste and quality. In the consumption concept of young users, products are not only easy to use and fun, but also can add their own quality of life and convey their own unique elegance, delicacy and personality.



epilogue



If a brand has no premium, it is difficult to become a brand and be remembered by consumers.



However, the creation of brand premium is not simple. It is a combination of cultural or intangible values such as emotional value (resonance), social value (identity) and self value (expressiveness) based on the functional value of products.



In other words, the degree of consumers' acceptance of brand premium is determined by many factors. For example, the quality preference of consumers, the economic ability of consumers, the frequency of consumers to buy the goods, the quality evaluation of consumers on the goods, the change degree of the quality of the products, etc.



But for brands, as long as they ensure the quality of their products, shape a good brand image, constantly adhere to innovation, seek breakthroughs, and meet the dual expectations of consumers for the spiritual and physical properties of products, they can naturally improve their premium ability.