Luxury car manufacturer Rolls Royce recently reported record sales figures for 2010, seeing sales soar by 171%, selling a total of 2,711 cars during the year. What is going on? Sure, we know that the gap between the rich and poor in the world is growing, and for the very wealthy price is not an issue. There will always be a market for quality, luxury products for those that have the spare cash.
Why Rolls Royce? Are their cars a triumph of engineering? Do they push the boundaries of the luxury car market with their innovation and creativity? Are they significantly differentiated in terms of customer benefit to allow themselves to march all over the competition? Or, is it just the brand? If you have an irrational amount of spare cash to spend on a car, are you likely to make a rational choice – or an emotional brand-connected choice? I leave you to decide.