1.
How
do mass-market brands compare to luxury brands in terms of brand value, pricing
attitude, and location choices? Mass market brands are produced in large quantities. “Mass-market fashion brands are
generally fashion followers and not trendsetters…they are rarely positioned on
creativity but on values derived from price, and convenience.” (Fashion
Branding Unraveled pg. 158) Buyers of
mass market brands are usually buying out of rationality. Luxury brand purchases mostly derive from emotional
needs. The luxury brand is usually the
trendsetter in the fashion world, they’re prices are set in a higher price
range which is usually not affordable and does not go on sale. Their brick-and-mortar operations are usually
in certain high end areas, as opposed to mass marketing brands which tend to go
on sale or can be purchased at a discounted price, and most mass market brands
open operations in several areas where they can be successful. Most luxury brands have a timeless fashion,
while mass market products go in and out of trend very quickly.
2.
Briefly
compare premium brands to luxury brands. Like
luxury brands, premium brands are of a higher quality and most purchases are
made from emotions. “Although most
premium products still rely on following trends introduced by luxury brands, it
is important to remember that premium brands are not created by simply
improving existing products or attempting to reposition them through marketing
and advertising.” (Fashion Branding Unraveled pg. 162) Luxury brands are more elite than premium
brands and are usually handmade, unlike premium brands who don’t receive the
attention or extra time and resources it may take to create a luxury brand.
3.
Name
a few of the challenges private labels face to compete with manufacturing
brands. “Private labels are brands
owned by a retailer and not a manufacturer. Retailers usually contract these
products and have them produced under their own labels.” (Fashion Branding
Unraveled pg. 166) “Private labels are
generally not trendsetters. They tend to imitate creative and technological
innovations of manufacturers' brands and offer their versions at competitive
prices. These brands are thus a major source of differentiation and
competitiveness for these retailers.” (Fashion Branding Unraveled Pg. 167)
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