 Mass Prestige brands – the end of traditional luxury brand marketing?Joanna Pietrzak ()
International Economics, 2019, issue 27, 187-198 Abstract: The luxury goods market is undergoing dramatic changes due to the fact that vast numbers of new consumers are gaining access to goods previously regarded as unobtainable. As a result, luxury is losing its elitist and exclusive character. The aim of this paper is to explore the changes in luxury brand marketing and to introduce the emergence of a new branding philosophy – Mass Prestige brands. The concept of Mass Prestige brands emerged as a response to luxury losing its elitist character, and it was intended to combine elements of luxury brand values perception with mass-market strategies. The key question of the discussion presented in this article is whether the values included in the luxury brand perception model fit Mass Prestige brand value perceptions, and if so, to what extent. Personal (“luxury for oneself”) and social (“luxury for others”) value dimensions of luxury brands were taken into consideration and confronted with the principles of Mass Prestige strategies. As a result, a modified version of the model was proposed that includes only the elements that are relevant to the buying motives of newly rich consumers seeking Mass Prestige brands. Keywords: luxury; mass prestige brands; marketing strategy (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ann:inecon:y:2019:i:27:p:187-198 Access Statistics for this article International Economics is currently edited by Piotr Gabrielczak More articles in International Economics from University of Lodz, Faculty of Economics and Sociology Contact information at EDIRC. |
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