Chivas Regal's 38-Year-Old Royal Salute Scotch Whiskey
Marissa Liu — April 14, 2010 — Luxury
References: bornrich.org
Chivas Regal has long been known as one of the world's leading makers of premium blended scotch-whiskey. So synonymous is the brand with luxury that it borders on royalty which is why Chivas Regal has released their Royal Salute.
The limited edition (only 255 bottles will be available) Chivas Regal Royal Salute is a 38-year-old blended scotch-whiskey. Housed in a handcrafted glossy black-finished bottle with a gold-plated stopper the Royal Salute retails for $1,499.
Implications - Consumers are always looking for lavish products that emulate prestige. Products such as these capitalize on the buyer's desire to feel that they are better than the average consumer, and companies can continue to gain by simply creating one-of-a kind products to cater to that need.
The limited edition (only 255 bottles will be available) Chivas Regal Royal Salute is a 38-year-old blended scotch-whiskey. Housed in a handcrafted glossy black-finished bottle with a gold-plated stopper the Royal Salute retails for $1,499.
Implications - Consumers are always looking for lavish products that emulate prestige. Products such as these capitalize on the buyer's desire to feel that they are better than the average consumer, and companies can continue to gain by simply creating one-of-a kind products to cater to that need.
Trend Themes
1. Luxury Blended Scotch-whiskey - There is a growing trend for premium and rare blends of scotch-whiskey amongst affluent consumers.
2. Limited Edition Collectibles - Creating limited edition collectibles with unique packaging and limited quantities can appeal to the desire of consumers to own exclusive products.
3. Prestige Marketing - Brands can leverage their reputation and prestige to market their limited edition products to affluent consumers.
Industry Implications
1. Alcohol - The alcohol industry can create premium and rare blends of scotch-whiskey to target affluent consumers and collectors.
2. Luxury Goods - Luxury goods companies can create one-of-a-kind collectibles with unique packaging and pricing to appeal to the desire of consumers to own exclusive products.
3. Marketing and Advertising - Marketing and advertising services can help brands leverage their reputation and prestige to effectively market their limited edition products to affluent consumers.
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