CULT BRAND
Definition In English a “cult” means something liked very much by a particular group of people.
A Cult brand is a product or service with a committed customer base.
The attainment of such true believers or ‘near fanatical’ customers is made possible because cult brands sell more than a product, they sell a lifestyle. Cult brands fundamentally create an entirely new universe revolving around its products and places the customers in the very center of their world.
Examples of Cult Brand
Apple is the epitome of self-empowerment and self-fulfillment combined into one brand.
Apple doesn’t just build products, they build products that their faithful fans want.
Due to which Apple was the Worlds most valued Brand in 2015.
Examples of Cult Brand Harley Davidson
One of two major American motorcycle manufacturers to survive the Great Depression.
Noted for a style of Customization that gave rise to the chopper motorcycle style
The world's fifth largest motorcycle manufacturer and an iconic brand widely known for its Loyal Following — with owner clubs and events worldwide as well as a company sponsored brand-focused museum
Harley Owners Group (1983, Sponsored Community Marketing Club)
Examples of Cult Brand The Oprah Winfrey Show
It is the best example for a cult brand other than a product.
Often referred to simply as Oprah, is an American talk show that aired for 25 seasons, from September 8, 1986 to May 25, 2011.
It remains the highest-rated talk show in American television historY
Other Cult Brands
Advantages of Cult Brands
Loyal Customer Base
Cult brands achieve a supremacy in terms of the following when compared to other regular brands, reason being the quality of the product delivered.
Low Price Sensitivity Customers have extremely low price sensitivity, meaning they are willing to pay at any price, as long as the promised value is received from the product/service.
Advantages of Cult Brands •
Improved Competitiveness Cult brands have no competition as no substitute product is comparable in the eyes of the consumer.
This means that companies do not partake in price wars as customers are willing to pay any price for the product.
Snowball Advertising Cult brands receive free word-of-mouth advertisement from the ardent and keen customers.
Challenges and Issues in Cult Brand
Changing Market Patterns Nokia’s failure.
Lack of dynamism and pioneering spirit
Management losing focus of the Core Apple (1983-1993)
Creating a New Industry iPod, iPhone
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