Marketing Comparison between Luxury Brands and Everyday Brands

DOI

10.2991/978-94-6463-098-5_29How to use a DOI?

Keywords

luxury brands; everyday brands; marketing comparison; marketing strategy

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.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Xinyi Chen
PY  - 2022
DA  - 2022/12/27
TI  - Marketing Comparison between Luxury Brands and Everyday Brands
BT  - Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)
PB  - Atlantis Press
SP  - 236
EP  - 244
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-098-5_29
DO  - 10.2991/978-94-6463-098-5_29
ID  - Chen2022
ER  -