Mass Prestige brands – the end of traditional luxury brand marketing?

Ekonomia Międzynarodowa ◽

10.18778/2082-4440.27.03 ◽

2019 ◽

pp. 187-198

Author(s):

Joanna Pietrzak

Keyword(s):

Model Fit ◽

Luxury Brands ◽

Luxury Brand ◽

Value Perceptions ◽

Brand Marketing ◽

Brand Values ◽

Goods Market ◽

Perception Model ◽

Brand Perception ◽

Market Strategies

The luxury goods market is undergoing dramatic changes due to the fact that vast numbers of new consumers are gaining access to goods previously regarded as unobtainable. As a result, luxury is losing its elitist and exclusive character. The aim of this paper is to explore the changes in luxury brand marketing and to introduce the emergence of a new branding philosophy – Mass Prestige brands. The concept of Mass Prestige brands emerged as a response to luxury losing its elitist character, and it was intended to combine elements of luxury brand values perception with mass-market strategies. The key question of the discussion presented in this article is whether the values included in the luxury brand perception model fit Mass Prestige brand value perceptions, and if so, to what extent. Personal (“luxury for oneself”) and social (“luxury for others”) value dimensions of luxury brands were taken into consideration and confronted with the principles of Mass Prestige strategies. As a result, a modified version of the model was proposed that includes only the elements that are relevant to the buying motives of newly rich consumers seeking Mass Prestige brands.

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Art as strategic branding tool for luxury fashion brands

Journal of Product & Brand Management ◽

10.1108/jpbm-01-2017-1408 ◽

2018 ◽

Vol 27 (3) ◽

pp. 294-307 ◽

Cited By ~ 7

Author(s):

Julia-Sophie Jelinek

Keyword(s):

Value Creation ◽

Value Chain ◽

Brand Management ◽

Luxury Brands ◽

Theoretical Frameworks ◽

Experiential Marketing ◽

Content Type ◽

Luxury Brand ◽

Brand Marketing ◽

Strategic Role

Purpose This study aims to understand the lasting relationship between luxury fashion and art. The purpose of the paper is to explore whether the application of art, the cooperation with artists, the implementation of experiential strategies focusing on retail spaces and shows embedded in the strategic concept of a luxury brand lead to a competitive advantage and to a sustained value creation for luxury brands. Design/methodology/approach Based on the literature, the strategic role of art and the importance of experiential marketing for the value creation of European luxury fashion brands was explored through empirical data collection, consisting of 26 semi-structured in-depth interviews. The gained data have been analysed through a thematic analysis approach and triangulated to avoid bias. Findings The exploratory study revealed that when art is applied as a strategic tool, it is of relevance to achieve an authentic fit to the brand. When integrating art consistently and authentically within the whole value chain system, it leads to a higher brand equity. Practical implications The paper provides a guide for both academics and marketers as theoretical frameworks are examined, analysed and future recommendations are given, which are suited to be applied within the brand management principles. Originality/value The outcome contributes to a wider delineation regarding the future of luxury brands. The study reveals novel viewpoints concerning the integration of arts in luxury brand marketing and adds to existing literature.

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Understanding the antecedents to luxury brand consumer behavior

Journal of Product & Brand Management ◽

10.1108/jpbm-09-2020-3126 ◽

2021 ◽

Vol ahead-of-print (ahead-of-print) ◽

Author(s):

Christine M. Kowalczyk ◽

Natalie A. Mitchell

Keyword(s):

Reference Group ◽

Structural Equations ◽

Purchase Intentions ◽

Consumer Knowledge ◽

Luxury Brands ◽

Group Influence ◽

Content Type ◽

Luxury Brand ◽

Value Perceptions ◽

The Usa

Purpose This paper aims to investigate how consumers perceive the value of luxury brands and the antecedents to these perceptions, including consumer knowledge, reference group influence and accessibility. Prior studies focused less on the salience of consumer knowledge and sources of luxury information, in addition to their accessibility to luxury. Hence, a more nuanced luxury conceptualization is needed to reflect luxury’s conceptual fluidity, consumers’ different lived experiences, accessibility levels and persistent retail marketing changes. Design/methodology/approach In a survey involving 475 US respondents, five hypotheses were tested and analyzed with structural equations modeling, examining the relationships among knowledge and accessibility of luxury brands, as well as reference group influence and its impact on consumer value perceptions of luxury brands and consumer behaviors. Findings Significant relationships were found for all five hypotheses and demonstrated that knowledge, reference group influence and accessibility have strong relationships with consumers’ personal value perceptions of luxury brands and behavioral measures, including purchase intentions, willingness to recommend to a friend and willingness to pay a price premium. Originality/value This conceptualization recognizes that consumers must have luxury brand awareness prior to reference group influence, developing individual luxury value perceptions and entering the buying process. This research contributes to the literature by highlighting consumers’ views of the luxury category, which induce perceptions and potential outcomes. It also expands the understanding of consumer’s accessibility to luxury products, which impacts purchase intentions. While it was conducted in the USA, it yields broader consumer perspectives.

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Pre-loved luxury: identifying the meanings of second-hand luxury possessions

Journal of Product & Brand Management ◽

10.1108/jpbm-05-2014-0603 ◽

2015 ◽

Vol 24 (1) ◽

pp. 57-65 ◽

Cited By ~ 42

Author(s):

Linda Lisa Maria Turunen ◽

Hanna Leipämaa-Leskinen

Keyword(s):

Luxury Brands ◽

Luxury Consumption ◽

Luxury Goods ◽

Content Type ◽

Luxury Brand ◽

Reputational Risk ◽

Brand Marketing ◽

Managerial Implications ◽

Symbolic Value ◽

Risk Investment

Purpose – The purpose of this study is to shed light on the consumption of second-hand luxury brands, identifying the meanings attached to second-hand luxury possessions in the context of fashion and, specifically, in the case of luxury accessories. Prior discussions of luxury consumption and marketing have focused on brand-new luxury goods, thus largely neglecting the emergence of markets for used luxury products. Design/methodology/approach – The empirical data for this study were generated through interviews with ten Finnish women and through fashion blogs concerning luxury goods that are bought second-hand. Findings – The findings show that second-hand luxury possessions are characterized by five different meaning themes: Sustainable Choice, Real Deal, Pre-loved Treasure, Risk Investment and Unique Find. The study highlights how consumers are able to achieve luxury experiences even without exclusive service, as the informants attached meanings of luxury to second-hand luxury possessions, especially with regard to the symbolic value and authenticity of the product. However, the meaning of authenticity appears to be a double-edged sword in this context, as consumers may also consider that they are taking a financial as well as reputational risk when acquiring a previously owned luxury item. Originality/value – This study brings forward novel viewpoints to discussions on luxury brand marketing by connecting the issue with the topical phenomenon of second-hand and luxury consumption. The study suggests important managerial implications for luxury brand marketers.

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Understanding consumer perceptions of luxury brands

International Journal of Market Research ◽

10.1177/1470785319891109 ◽

2019 ◽

Vol 62 (5) ◽

pp. 546-560

Author(s):

Jenni Romaniuk ◽

Ava Huang

Keyword(s):

United States ◽

The United States ◽

Consumer Perceptions ◽

Luxury Brands ◽

Luxury Brand ◽

Customer Base ◽

Brand Marketing ◽

Baseline Response ◽

Marketing Activities ◽

Over Time

Continuing the stream of luxury brand research that seeks to identify how luxury brands differ from non-luxury brands, we test whether the brand usage and attribute prototypicality influences on consumers’ perceptual responses about non-luxury brands extend to luxury brands. Drawing on data from individuals who qualify in the top 25% income tier in their country, in the United States ( n = 300) and China ( n = 366), across three luxury categories of Fashion, Jewelry, and Watches, we find that brand usage and attribute prototypicality patterns drive baseline response levels for brands on luxury attributes. Furthermore, a calculation from Romaniuk and Sharp is able to accurately estimate scores (±2pp) for over 90% of luxury brands of the 580 brand–luxury attribute combinations tested. The ability to benchmark scores for brands on luxury attributes will enable practitioners to separate real differences in the positioning of luxury brands from those that simply reflect the current size of the brand’s customer base, and over time more effectively detect the effect of luxury brand marketing activities on consumers.

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Key Factors of Emerging Luxury Brand Construction: Empirical Case Study of Korloff

Journal of Advanced Computational Intelligence and Intelligent Informatics ◽

10.20965/jaciii.2016.p0607 ◽

2016 ◽

Vol 20 (4) ◽

pp. 607-614

Author(s):

Zhiqing Jiang ◽

◽

Shin’ya Nagasawa

Keyword(s):

Quantitative Research ◽

Structured Interview ◽

Brand Strategy ◽

Luxury Brands ◽

Luxury Goods ◽

Luxury Brand ◽

Positive Effects ◽

Brand Construction ◽

Goods Market ◽

Brand Attributes

The luxury goods market has been expanding worldwide since the early 1990s. In the marketplace, there are new entrants (emerging luxury brands) reputed to be leading luxury brands, especially designer brands, which neither provide new luxury like Coach, nor are similar to traditional luxury brands, such as Louis Vuitton. In this research, an emerging luxury brand also refers to a brand that provides luxury goods in or above the intermediate level of the luxury goods products hierarchy and was established in or after the 1970s. The purpose of this paper is to propose a conceptual framework for emerging luxury brand construction. It (1) defines luxury and emerging luxury brand, (2) reviews the theoretical basis of luxury goods and the brand strategy of luxury goods, (3) frames the nexus between luxury brand attributes and brand image, (4) conducts consumer survey and data mining, and (5) discusses and concludes the research. This research includes qualitative research (a semi-structured interview) and quantitative research (exploratory factor analysis and regression analysis). The results show that the location and atmosphere of luxury stores, E-commerce, online ads and newsletters, origin, iconic products, symbols, and PR events have positive effects on consumers’ impression of emerging luxury brands.

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Why Luxury Brands Partner with Artists

The Oxford Handbook of Luxury Business ◽

10.1093/oxfordhb/9780190932220.013.17 ◽

2020 ◽

Author(s):

Annamma Joy ◽

Russell W. Belk

Keyword(s):

Historical Overview ◽

Luxury Brands ◽

Future Directions ◽

Luxury Brand ◽

Brand Marketing ◽

The World ◽

Varied Range ◽

Fashion Designers

This chapter studies why luxury brands partner with artists through an historical overview of such alliances and a case study of Louis Vuitton, which has collaborated with an unusually varied range of artists. Fewer media have been offered a more effective fit with the world of luxury-brand marketing than synergistic partnerships with artists. The artists gain increased exposure and, should they wish, a market-blessed legitimacy; the brand benefits from a perception of épater la bourgeois legitimacy—and thus authenticity—through its alliances with street-wise avatars of youth, rebellion, and cutting-edge modernism. Additionally, the chapter discusses the appropriation of luxury-brand artisanship, styles, and logos by street fashion designers and artists; participating in partnerships with the brands themselves; and spurring the rise of diversity within the industry. Further, it explores the concept of artification and the rise of luxury-brand museums. In closing, the chapter addresses potential future directions for partnerships between luxury brands and artists, taking into account the evolving role of luxury fashion in today’s new brand of artist, the multihyphenated megacelebrity.

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Luxury Brand Perception and Consumer Attitude to Extended Luxury Brand

Advances in Marketing, Customer Relationship Management, and E-Services - Brand Management in Emerging Markets ◽

10.4018/978-1-4666-6242-1.ch012 ◽

2014 ◽

pp. 191-199

Author(s):

Hao Zhang ◽

Xiaoyu Zhao ◽

Changhan Lee

Keyword(s):

Emerging Markets ◽

Social Dimension ◽

Consumer Attitude ◽

Luxury Brands ◽

Luxury Brand ◽

Value Perception ◽

Functional Dimension ◽

The World ◽

Luxury Products ◽

Brand Perception

South Korea, as one of the largest economies and emerging markets in the world, continues to be attractive to luxury companies. There is dramatic increase in purchasing power for luxury products in Korea. This chapter discusses Korean consumers' value perception of luxury products and their influences on consumers' attitudes to extended luxury brands. The result shows that functional dimension, financial dimension, social dimension, and brand dimension can significantly influence consumers' attitudes. At the end of the chapter, conclusions and implications are discussed.

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