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Price

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

3

2 reads

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Features

  • 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. 

3

2 reads

Luxury Brand

Luxury Brand

Luxury 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 u...

3

27 reads

Target Audience

  • 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.

3

3 reads

Manufacturing

  • 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. 

3

2 reads

Masstige Brands

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...

3

3 reads

Premium Brand

Premium Brand

Premium brands 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...

3

3 reads

CURATED FROM

CURATED BY

dustinspe

Secretary at a company

Related collections

More like this

Buying luxury brands

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.

...

High Value at a Low Price

High Value at a Low Price

  • Price = what you pay.
  • Value = what you get.

You lose money when the price you pay does not match the value you're getting. For example, when you're paying high interest on credit card debt or spending on stuff you hardly use.

...

Old and new rules of brand awareness

Old rules of brand awareness:

  1. Make something for everyone. 
  2. Tell our story. 
  3. Attract customers. 
  4. Build brand awareness. 

The brands that succeed today have flipped things around. New rules of brand awareness

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