Luxury Brands
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Transcript of Luxury Brands
BRANDS
LUXURY BRANDS
Luxury Brands is linked to subjective perceptions of comfort, beauty and a sumptuous lifestyle in objective reality……
"I have the garden, the house, all this is beautiful. A house in Florida too … For me, I assimilate it [luxury] to comfort."
1.Sit within a tier of a consumer-facing category that seemingly demonstrates price insensitivity.
2. Show that being expensive is of neutral or even positive impact to their image.
3. Demonstrate that perceived price has a
low role among drivers of purchase..
CRITERIA TO MEET THE LUXURY BRANDS
CORE CHARACTERISTICS OF
AUTHENCITY AND CONVICTION
ICONIC STATUS
GLOBAL
A U T H E N C I T Y
A N D C O N V I C T I O N
A leading luxury brand must possess an authenticity and sustained conviction to qualities such as excellence, precision, craftsmanship, taste, and innovation that makes choice of brand exceptionally important for purchase.
ICONIC STATUS
Leading luxury brands must be desired at a level that effectively precludes substitutes during the purchase decision.
GLOBAL
it must be global with at least 30 percent of sales volume being derived from markets beyond its home country and a presence in all the core markets of the Americas, Europe and Asia.
e -Luxury Brands Element
SoundIt’s used to stimulate different feelings in the subconscious of the shopper through music type, volume, pitch, tempo.
Visuals involve the use of tools and aids such as colour-scheme, video clips, slideshows, three dimensional product view, zoom facilities of whole and parts of products.
Smell it’s become possible for online consumers to have a whiff of scent while shopping on the Internet.
Usability is the backbone of a website and crafts the online experience throughnavigation and interactivityPersonalization In the present ‘Generation Me’, society, every consumer desires to be recognised as important, treated with respect and provided with personal attention. General e-retailers such as amazon.com and Britain’s tesco.com have mastered the art of online customer page personalization.