Luxury Brand - Deepstash

Bite‑sized knowledge

to upgrade

your career

Ideas from books, articles & podcasts.

Luxury Brand

Luxury Brand

doesn’t meet a need or solve a problem. Luxury consumers aren’t interested in more features giving better value for money.

Luxury consumers are interested in a brand’s heritage, prestige and uniqueness. The identity is important rather than a competitive edge. 

STASHED IN:

3

published ideas from this article:

MORE IDEAS FROM THE SAME ARTICLE

are the ones that give you the best features at the best value. 

They operate with a close to one ratio of functionality and price. Consumers pay th...

  • Luxury Brands don’t have to care about features. They can sell shiny rocks at a high cost.
  • Premium brands define the industry benchmarks for quality and quantity of features. 

  • Luxury brands have a high price compared to what they are offering. 
  • Premium brand tries to offer the best value for customers. 

  • Luxury is for those who want to feel like they are unique. It isn't for those who are price sensitive.
  • Premium brands are for customers who can pay for the best product in the market.

  • Luxury brands rarely go for mass manufacturing. They take pride in using experts to create things and even offer high customizability to their customers. 
  • Premium brands do mass manufacture while carefully maintaining high standards. 

Typical masstige brands are in between luxury and premium. They combine the pride and prestige of luxury with the quality and accessibility of the premium.

Masstige brands include Zara, Coach, Godiva, Starbucks and Victoria's Secret. These brands generate quite a lot of cachet with their co...

IDEA ABOUT

Discover and save more ideas by creating a

FREE

Deepstash account.

Develop a

reading habit

, save

time

and create an amazing

knowledge library

.

GET THE APP:

MORE LIKE THIS

Understanding customer preference

Retailers give a lot of thought to where they display products in their stores.

Research shows that customers prefer premium brands when their logos are positioned above the customer. For example, customers value premium watches kept deep inside a glass cab...

STASHED IN:

2

published 4 ideas

New research finds that how far we are from a product influences what we think of it.

0 Comments

Buying luxury brands

Many consumers who buy luxury goods are not in a financial position to afford luxury goods. They do not always act rationally and may spend thousands of dollars on a luxury brand that performs the same function as a similar durable item at a much lower cost.

...

13

STASHED IN:

122

Setting the right prices for your products

This is a balancing act. A low price isn’t always ideal, as the product might see a healthy stream of sales without turning any profit. Similarly, when a product has a high price, a retailer may see fewer sales and “price out” more budget-conscious customers, losing market positi...

3

STASHED IN:

27