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For the last 40 years, the
concept of cult brand is
prevalent in the markets. However, brands do not become
cult brands overnight. Today's cult brands first started out as just products
with huge potential. Over the years, they have created strategies, fulfilled
a range of needs for the customers and thus fostered a sense of
belonging among the consumers. In the process, they have today created
a cult-like following. Members of a particular cult brand
community never shop from the competitor. For instance, brand loyalists of
Wal-Mart would even drive 20 miles to reach the store but would
never shop at a local departmental store, despite the fact that both
the retailers offer similar products with comparable prices. In this case,
the customers went to
Wal-Mart for that `extra something' which they did not get in any
other store.
According to the Oxford dictionary, cult means
something that is very popular and fashionable among a certain group of people.
In the case of a cult brand, communities of consumers
are developed who love the brand and are very dedicated to it. Cult
brands work on the concept of `dare to be different'. They do not just
sell products or services, they sell lifestyles.
The famous Swiss Psychiatrist, Carl Jung, called
the cult brands a participation mystique since these brands spark a
magical participation with their customers.
Cult brands have a loyal group of customers and employees who
are devoted and committed to the development of the
brand. Customers are passionate about the cult brands. These brands belong
to the customers and not to the company or the marketers.
Cult brands work to fulfill their customers' dreams, passions
and aspirations. Marketers of these brands are constantly in the
process of anticipating the needs and wants of the customers and fulfilling them. |
