1.
Explain the social element of luxury
brands, and explore how this concept relates to some of the challenges facing
luxury brands, such as counterfeiting and parallel markets.
Luxury brands “demonstrate and establish the lifestyle
status and proposed image of the brand, compensate for lack of history and
heritage in the case of new brands, create social awareness, which makes owning
of luxury more meaningful, and combat economic downturns” (Fashion Branding
Unraveled pg. 138).
2.
What is the meaning of a lifestyle brand? Why are most
luxury brands described as such?
“A lifestyle successfully identifies itself with a
lifestyle and a marketing segment to the point that its name or image is
mentally triggered when the segment is mentioned” (Fashion Branding Unraveled
pg. 118). Most luxury brands sale a
social status or elegance that people want to achieve in life. Owning these things makes people feel that they
have achieved a certain social status amongst regular people. A luxury brand assists in defining the
lifestyle people wish to live or portray to others.
3.
Explain how luxury brands seem to defy traditional marketing
principles. Luxury brands usually use
different outlets to advertise than regular brands. Marketing or advertising
a non-luxury brand is seen on tv, heard on the radio and seen on
billboards. Most luxury brands will use
celebrities as their live advertisement.
They give the celebrities a fee to say they use the product or asks that
the celebrities make public appearances with the product in view. “The Internet, iPhones, and other
electronic devices and platforms are new channels that have been tapped by
luxury brands as well” (Fashion Branding Unraveled pg. 139). Social media is used by the brands as well as
the celebrities where they post pictures of themselves with the items or post a
picture of the item and offering a reason why one should use this brand. This creates buzz and popularity of the item
amongst the general public.
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