As a luxury real estate marketing professionals studying examples of niche marketing done right in the luxury realm can give you tremendous insight on how to position yourself and stand out from your competition. Luxury books are a case in point.
Amazon popularized the relatively new niche category of e-books. They announced that its Kindle e-bookstore is now selling 180 e-books for every 100 hardcover books. The sale of Kindle devices have tripled since it lowered the price, despite the competition from multifunctional devices such as the iPad. Is there any wonder why most niche book stores, such as those that specialize in selling architectural or design books have become extinct?
However, a handful of luxury book publishers are thriving by selling limited, innovative editions, for thousands of dollars. Taschen Books, with exclusive brick and mortar stores in upscale cities like Beverly Hills, London and Paris, has tapped into a very narrow, but lucrative, niche. Twelve copies of their massive photography book on the lunar landing were sold with actual pieces of the moon. One such edition that came with a lunar rock was sold for $112,500, according to the Wall Street Journal.
Although, these extravagant showcase books are beyond the reach of most consumers they create a tremendous amount of buzz for Taschen and help sell less expensive premium edition books. For example, a $7500 book on Muhammad Ali is sold with several signed photographs of the boxer.
Shoot for the moon! Express your personal flair. Use your imagination to out-think your competition. Zero in on a niche and become well known within your marketplace as the best in that niche. This is the way to market leadership!
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