To conclude, we have argued a number of different factors that play an important role in the branding and marketing of lifestyle brands. But more importantly we looked at the benefits sought and received from the perspective of consumers. In my opinion, one of the most important and apparant benefits derived from lifestyle branding are the psychological values consumers incorporate in terms of social status, self-actualization Maslow 1945, belonginess and aspirational fantasies – the desire of being and portraying the ideal self, rather than their actual self. Clear is that consumers seek ‘symbolic value’ when purchasing lifestyle products e.g. Porsche to send out a clear messages to others concering their self-identity. This way consumers convey to others what social group he/she associates or wishes to associate him/herself with and thus can lead to the actualization of the first 3 levels of maslow’s 1945 ‘self-actualization pyramid’ - psychological, safety and most important love/belonging. The consumers considers him/herself as a relevant and appreciated part of a larger context or group, where their identity and opinions matter and can be freely expressed.
Moreover, conusmers find it increasingly difficult to choose between products & services as there is just too much choice substitutes in our modern and technologically advanced society that it becomes a difficult task on its own for consumers to choose which product to purchase as the differences are hard to observe, thus being loyal to a certain brand simplifies this problem of choice for the consumer.
Furthermore consumers that develop emotional brand attachment and brand loyalty will be rewarded for this and receive considerable ‘club’ benefits from the brand. Loyal customers are often rewarded by the brand through loyalty cards, discounts, free gadgets, special treatments and offers to win. Thus overall we can say that the inherent characteristics of the products consumers buy are far less important than the emotional connotations and social/psychological needs these products fulfill.