The Main Characteristics Of Luxury Brands

Keller (2013) provides a definition of luxury brands as one of the branding strategies and tactical guidelines to use their brand and its image as their key competitive advantage; luxury. The main characteristics of luxury branding are that the brand maintains a premium or a prestige-image; this includes an exclusive channel of distribution, an aspiration image that benefits from a tickle-down effect to a broader audience. Also, the luxury brands are enhanced by a premium pricing strategy with strong quality cues and few discounts or markdowns and brand elements besides brand names, such as, logos and packaging, can be important drivers of brand equity for luxury brands which must be legally protected to combat with counterfeits.

Many luxury

One of the foremost reasons behind this is that luxury brands are products with premium quality. The unique style of the products offered by these brands allows them to charge premium price to their customers. By purchasing luxury brands, customers are also building their universal status. Customers buy luxury brands for a few reasons, such as to reflect their personal values or to build their social status. According to Bian & Forsythe (2011), the perception of luxury brand is not consistent across different market segments, this is because luxury is a subjective concept and that depends on each consumer’s perception of indulgent value.

Forsythe (2011), suggests that the consumption of luxury brand is determined by the social function attitudes, i.e. how consumers want to express their personality at the same time expressing their social status. Luxury brand have a differential value that satisfies customers need for uniqueness in relation to the customers self-expression. Luxury brands have the ability to fortify social image, which causes customers to have the self-presentation attitude. The motivation to purchase luxury brands may differ from one culture to another, but the consumption of these brands may not differ between

In addition, evaluation of brand and guarantee is very close to that of developed countries. It can be concluded that of how some countries value price more than other factors and while some countries value the brand and its luxury more than other factors. The main influence on the results is the cultural differences between countries and how they value and define the assets; brand, price, value, function, luxury, and guarantee. Cultural differences can affect the behavior of a certain customer in purchasing a luxury product. In different countries, many aspects can be studied more on why people purchasing luxury brands. A study by Shukla (2010) said that different cultures serve different type of factors that affected the purchasing intentions towards luxury products. The research took two different cultural background countries (India and