This table shows what makes a brand or product considered "luxury" in the minds of consumers. If Butler Bag's new line is to continue to be perceived as a luxury line, it is important to that we use this as a standard for upholding the current image. People aren't going to pay high-end prices unless they perceive the bag to have more value than just functionality. They may desire it because of the status symbol, uniqueness, quality, social connections, or emotional satisfaction.
Resource: http://www.amsreview.org/articles/vigneron01-1999.pdf
No comments:
Post a Comment