1. How do mass-market brands compare to luxury brands in terms of brand value, pricing attitude, and location choices?
Mass market-brands cater to a much larger market than luxury brands do. Not everyone can afford to shop at luxury stores; luxury brands are pricey and more about quality and status symbols. There is a huge percentage of consumers who shop mass-market brands as apposed to purchasing luxury products. "Compared to luxury brands, mass-market brands generally adopt different distribution and pricing strategies." (Hameide 171) Hameide, Kaled K.. Fashion Branding Unraveled. Fairchild Books, 2/2011. <vbk:978-1-60901-792-7#outline(5.5)>. A persons preference of quality vs quantity will also determine how they shop and where.
2. Briefly compare premium brands to luxury brands.
A premium brand is a brand with a higher quality of merchandise but aren't quite as expensive and luxurious as brands like Louis Vuitton, Valentino, or Louboutin. "PREMIUM BRANDS are also referred to as “aspirational” or “new luxe” brands and include brands such as Coach, Victoria's Secret, and most RTW labels introduced by luxury brands "
(Hameide 162) Hameide, Kaled K.. Fashion Branding Unraveled. Fairchild Books, 2/2011. <vbk:978-1-60901-792-7#outline(5.3)>. Premium brands have a larger consumer base; someone in middle or working-class can still occasionally shop in premium brand stores, where they couldn't splurge on a luxury brand.
3. Name a few of the challenges private labels face to compete with manufacturing brands.
Private labels may struggle with having a strong customer base. Mass manufactured products are much more well-known and trusted. Its harder to gain loyal customers to private label brands unless they are much better than the name-brand product.
(Hameide 162) Hameide, Kaled K.. Fashion Branding Unraveled. Fairchild Books, 2/2011. <vbk:978-1-60901-792-7#outline(5.3)>. Premium brands have a larger consumer base; someone in middle or working-class can still occasionally shop in premium brand stores, where they couldn't splurge on a luxury brand.
3. Name a few of the challenges private labels face to compete with manufacturing brands.
Private labels may struggle with having a strong customer base. Mass manufactured products are much more well-known and trusted. Its harder to gain loyal customers to private label brands unless they are much better than the name-brand product.
"Private labels must be able to compete not just on the basis of price but on quality and creativity as well in order to create the right incentive for the consumer. However, these elements do come with their own challenges."
(Hameide 169) Hameide, Kaled K.. Fashion Branding Unraveled. Fairchild Books, 2/2011. <vbk:978-1-60901-792-7#outline(5.4.2)>.
(Hameide 169) Hameide, Kaled K.. Fashion Branding Unraveled. Fairchild Books, 2/2011. <vbk:978-1-60901-792-7#outline(5.4.2)>.
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