High-end events are like Michelin-star restaurants - people attend them knowing that the experience will be truly unique and the value they’ll get will justify the expenses. Running luxury events is the ultimate frontier of the planning mastery and serves very specific purposes.
As Vincent Bastien, marketing professor at HEC Paris, notes, “The luxury strategy aims at creating the highest brand value and pricing power by leveraging all intangible elements of singularity- i.e. time, heritage, country of origin, craftsmanship, man-made, small series, and prestigious clients.”
He also notes, “When it comes to luxury, being unique is what counts, not any comparison with a competitor. Luxury is the expression of a taste, of a creative identity; luxury makes the bold statement ‘this is what I am,’ not ‘that depends’– which is what positioning implies. It is identity that gives a brand that particularly powerful feeling of uniqueness, timelessness, and the necessary authenticity that helps give an impression of permanence.” In other words, you’ll want to run a luxury event to make a statement about the status of your brand and make your audience aware of its exclusivity.
A luxury event, by definition, stands out from the pack. That’s why, when you plan one, you’ll want to be at the top of your game and make sure that every action you ...