How do brands become luxury?

• Answer by Maya Silva
• 21st Nov, 2020

The definition of a luxury brand is variable. You know the world changes its color everyday. All the people are influenced by social media and depending upon the trends and affairs, the luxury brands change daily. In the morning, people are talking about traditional wear but in the evening of the same day, they talk about the indo western look which is better and trendy than the old traditional way. Some people discover their own looks and other few follow them. This makes the original idea “A brand”. Now talking about the very well known brands in consumer goods, then few names come up and it’s Louis Vuitton and expensive couture fashion. Everything from the stuff like handbags to handkerchiefs sport logos from Burberry, Christian Dior and Chanel. Brands become a luxurious one when it's unique and comfortable in following factors. The Price of the product Quality of material Design of each section Meaning of design used Rarity Service provided by designer The Journal of Business Research takes a more detailed approach for defining a luxury brand. To define their definition, they have published a paper to “provide a new and usable definition of ‘luxury brand,’' as well which summarize all the published research on luxury brands till date.

• Answer by Camila Taylor
• 21st Nov, 2020

Just like we human beings have our personality, brands also have their unique personalities . Buying luxury is as much about how it makes us feel about ourselves as trying to impress others. The primary goal of any luxury brand is how much people are convinced about it the higher price needs to be justified as luxury products are perceived as rarer and better than the standard versions of the product. Superb craftmanship and quality of the product are the embodiment of true luxury. Clever, smart and sophisticated marketing strategies are really essential to elevate the vogue of a luxury brand.