EOC Chapt 5

    1. Mass Market brands are valued and positioned rarely on creativity and more on the convenience side. They will suffer from being distinguished as where a luxury brand is easily distinguished due to its elements. The core value of mass-market brands is rational while luxury brands such as a Gucci bag would be more of an emotion. The pricing for a mass-market brand is more on a budget such as H&M for example. “Mass-market brands do not adopt a premium pricestrategy”. Luxury brands pricing will be extremely different and will often refrain from using any sort of promotion. They are often about productions strategies and how much they produce. http://digitalbookshelf.artinstitutes.edu/books/978-1-60901-792-7/id/fig5_1

    2. Luxury brands are built on exclusivity and often have a waiting line for any new product because they know that people will often buy the product."A premium brand is product centered and also requires keen understanding of consumer motivation and buying behavior." Premium brands possess amazing quality and benefits as well as a high level of innovation. Luxury brands have artisan and handmade craftsmanship while premium brands just have some elements. Luxury brands such as Prada are mainly promoted as elite while premium brands are promoted through values. Premium brands are seen as aspirational and often are introduced through methods such as Victoria Secret and John Varvatos. http://digitalbookshelf.artinstitutes.edu/books/978-1-60901-792-7/id/fig5_4

    3. “In the past,private labels were generally seen as cheaper products with inferior quality.”Private labels have been fighting to be different than your average manufactured product. The service they carry are also another one of the many things that they are challenged with as well. They want to make customers feel that they are offering more than your average service and pricing. Customers are more willing to buy exclusive brands through reasonably priced stores such as Macy’s and other stores. More challenges private labels have is the space within a store or mall. Overall these challenges are presented to each brand and private labels and has many options and routes each one can take to win against competition. http://digitalbookshelf.artinstitutes.edu/books/978-1-60901-792-7/S2.3/11