2) Masstige
Masstige is a marketing term meaning downward brandextension. The word is formed from the words mass and prestige and has been described as prestige for the masses.
The term was popularized by Michael Silverstein and Neil Fiske in their book Trading Up and Harvard Business Review article "Luxury for the Masses." Masstige products are defined as "premium but attainable," and t
1. Leisure as Big Business
Changing demographics
11th largest industry profits in 2006
Annual revenues of over $100 billion
Triad—amusement, entertainment, recreation leisure activities
Entertainment content—live performances (theatre, musical concerts), interactive experiences (recreation, amusement parks, travel, gaming) and media (m
was mentioned above. Also the ‘being as scarce as possible’ strategy enabled them to position as a legendary high-end luxury brand. You have to wait one or two years to get a specific model of Hermès bag, but Thomas the CEO Hermès says that it is worth the wait. “If people buy an Hermès bag, they know it is going to last them for 40 years. The bag isn’t an expense,
H&M offers fashion and quality at the best price
H&M's first store was opened in Vasteras, Sweden in 1947 by Earling Persson
H&M is in around 2000 stores spread over 37 countries
H&M offers fashion for women, men, teenagers and children
The collections are created centrally by around 100 in-house designers together with buyers and pattern makers
H&M also sells own-brand cosmetics, accessorie
fashion house Louis Vuitton to create what is now the world’s largest luxury goods business –LVMH.
Now LVMH has a great empire in the luxury arena. It is competing With Gucci, Richemont (known as Cartier), and Bugari – the world’s best luxury groups. But LVMH definitely has the leading position and its growing doesn’t know stopping.
Complementing weakness and using oppor
2) Fashion and Leather goods segment
- Designer’s salary
Fashion and leather goods business segment has distinct kinds of fashionbrands, such as Louis Vuitton, Fendi, Donna Karan, Marc Jacobs and so on. These brands are always required to present new models every year to fulfill customers’ rapidly changing needs. By hiring innovative and creative designers, LVMH creates apparels and acc
What is the brandextension?
It’s a supervision strategy for the brand
to improve success rate of the new product
making use name-recognition, payment of royalty,
imaginative associations which consumers have
brand image as a luxury car around the world.
This can also be seen in the Fashion Premium brand. High quality is considered basic need and only brands with a long history were able to enter the luxury goods market. An image and the history of a luxury brand became the core of the brand and only when this core is recognized by the consumer, it represented a demand for the product. Hence, the r
brands face sluggish sales and busy terminating their businesses in Korea. Fashion industry expects the next year’s sales will decrease 4.5%.
② Flood of SPA brand
The current fashion market is experiencing a lot of difficulties in fashion forecasting due to consumers′ fast-changing lifestyle on fashion, changes in consumer behavior, and the segmentation of the fashion market. To cope w
brandextensions)유형은 말 그대로 Mercedes-Benz, Tiffany 등 전통적인 명품 브랜드들이 브랜드를 확장하여 상대적으로 저가인 2nd 브랜드를 런칭하는 것(즉, 전통적인 명품업체의 대중화 전략을 위한 브랜드 확장의 형태)을 말한다.
마지막으로, ‘Mass Prestige’ 또는 ‘매스티지(Masstage)’ 유형은 오리지널 고가