Adding Prestige to Your Portfolio

Expand your existing portfolio by using the creative luxury process to elevate specific products and provide greater value to customers.

Contrary to popular belief, luxury is a well-defined code that can be reapplied to any other product or service to enhance its value. Adding Prestige to Your Portfolio reveals how non-luxury companies can apply the principles of luxury and creativity to transition parts of their portfolio to luxury status.

Adding Prestige to Your Portfolio describes how companies can elevate any product or service at each step of the customer buying journey (awareness, search and compare, purchase, use, advocate). By applying the creativity technique Closed World Principle, readers can determine which luxury benefits (security, fun, self-respect, self-fulfillment, accomplishment, recognition, relationships or belonging) would best map to their product or service and garner the greatest business impact at that particular stage of the customer buying journey.

Illustrated with examples from industries as diverse as healthcare and industrial equipment, Adding Prestige to Your Portfolio shows companies how to borrow the elements of luxury and sprinkle them throughout the customer experience in order to strengthen loyalty and increase their appeal to potential new customers. Online resources include sample syllabi, templates to aid in application of framework, case studies and discussion questions.

About the Author

Drew Boyd is Associate Professor of Marketing and Innovation at the University of Cincinnati in Mason, Ohio. He trains, consults and speaks on the topics of innovation, persuasion and marketing strategy at Macy's, Toyota and Procter & Gamble. He spent 17 years at Johnson & Johnson in marketing, mergers and acquisitions, and international development, where he also earned his first of five patents for medical devices. His work has been featured in business publications such as The Wall Street Journal, Bloomberg, Industry Week, Psychology Today, and Strategy+Business.