Marketing Comparison between Luxury Brands and Everyday Brands

Xinyi Chen ()
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Xinyi Chen: California college of the arts

A chapter in Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022), 2023, pp 236-244 from Springer

Abstract: Abstract By carrying out accurate market development and determining the correct brand positioning, the brand can occupy a place in the fierce market competition. Brands in the market can be roughly divided into luxury and everyday brands. Hopefully, the market analysis in this paper will enable readers to understand and distinguish the marketing differentiation between luxury and everyday brands and the reasons for it. Both types of brands have specific consumer groups. This paper compares the similarities and differences between luxury brands and everyday brands to find the most suitable marketing strategy for these two types of brands. The research results show that although the market strategies of luxury brands and everyday brands show different degrees of coincidence and similarity, for example, both brands focus on customer marketing, brand image building and product distinctiveness in actual market consumption activities to meet different types of life needs, people tend to choose different types of product brands. People choose luxury brands for personal and symbolic meanings and everyday brands for practical and functional meanings. Therefore, luxury brands pay more attention to the symbolism and innovation of products, while ordinary brands pay more attention to the functionality and practicality of products. This paper may offer some references for companies with their brand building and market expansion.

Keywords: luxury brands; everyday brands; marketing comparison; marketing strategy (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-098-5_29

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DOI: 10.2991/978-94-6463-098-5_29

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