Logic of Limited edition

You might have heard about Limited Edition. It was concept of publishing industry but now this is concept of Marketing which marketers used to implement while launching of products or rejuvenating. Initially company were using this strategy for automobile and consumer durables and now it is being used for any products either it is FMCG or consumer durables. The main logic of this concept is to create excitement about product in market and aware the consumers about products very quickly and of course this is most profitable way. Why it is profitable because when product comes with limited edition consumers wants to pay high price because product is loaded with features or unique in market. Initially companies were not using this strategy often but now it became part of marketing strategy.There are various reasons for doing this type of implementation but I will write about few reasons of "Limited Edition" these are followings-

1. Brand Rejuvenation- This is the very first reason for this strategy. When any products reaches at the maturity stage of Product life cycle than marketers use this strategy to filling fuel in the product for long run. You have very nice example of Maruti 800 when they reached maturity stage company offered some extra features, fancy color and bumpers to keep this product in market. Company did it twice for Maruti 800 that's what you are seeing Maruti 800 still in the market and this strategy worked very well.

2. Consumer connect- Second reason for this strategy is to connect the consumers with brand for long time. For example you take Axe perfume this product were running in market since long time each time they used this strategy to connect the brand to consumers. Another example when Mahindra Logan came into market they used this strategy for saying that sedan car at affordable price and same thing happened with Alto also.

3. Event- By using this strategy company organize the events for create hype in market. For example you can take Lux. When Lux completed its 75 years than they organized event for creating hype in market.

4. Test Marketing- This is very important reason for any company because when any company wants to launch the product they uses this strategy. This strategy gives right test of market whether consumer will accept this product or not.

5 Creating Exciting- This is also very important because when any products comes into the market than they try to create excitement in the market for purchase. Recently mostly people have Gold flake new cigarette came in flavor of tea with limited edition. Being a smoker I have purchased two packets of that cigarette because I thought limited edition could end any time. Here I can understand this strategy and fall dawn under this strategy.

6. Word of Mouth- And the last reason is positive word of mouth. When one consumer will buy it another will get effected and they will also buy. So, here it works in the form of advertising.

Analysis- My analysis says this is very good strategy but company need to be real. Sometimes what happens company roll out the product in market with limited edition but this product become unlimited. So, at that point of time consumer feels cheated. Main reason for success of this strategy is company gives feeling of Limited. So, customer starts purchasing product with fully excitement and quickly.