1. How do mass-market brands compare to luxury brands in terms of brand value, pricing attitude, and location choices?
Mass Market brands have value you on all their products but it may not be as high of a brand value that company's like Chanel hold. They will not sell any of their products on sale or second stores because their value is so high. "Mass-market products are highly price driven. At the budget range, for instance, they are quantitative and based on the concept of more for less, so in most cases these brands are positioned primarily based on price." (Hameide 158) Location is not as much of an issue for mass market. They are able to be located in places like downtown or shopping centers. They also have a very strong presence online, unlike luxury brands who only sell their products in stores.
2. Briefly compare premium brands to luxury brands.
"Premium brands are also referred to as “aspirational” or “new luxe” brands and include brands such as Coach, Victoria's Secret, and most RTW labels introduced by luxury brands" (Hameide 162) They are more affordable luxury brands. the quality is excellent and their products are desirable to everyone. They still follow the trends that the luxury brands create but they do have some new and innovative ideas of their own. They also have great craftsmanship but aren't quite handmade like most luxury items are.
"Premium brands are also referred to as “aspirational” or “new luxe” brands and include brands such as Coach, Victoria's Secret, and most RTW labels introduced by luxury brands" (Hameide 162) They are more affordable luxury brands. the quality is excellent and their products are desirable to everyone. They still follow the trends that the luxury brands create but they do have some new and innovative ideas of their own. They also have great craftsmanship but aren't quite handmade like most luxury items are.
3. Name a few of the challenges private labels face to compete with manufacturing brands.
"Private labels are brands owned by a retailer and not a manufacturer. Retailers usually contract these products and have them produced under their own labels. The definition of private labels has expanded to refer to both private labels sold next to manufacturers brands in multibranded stores (such as Club Room at Macy's or Target's Isaac Mizrahi collection) as well as private brands sold solely in their exclusive stores (such as Gap and Esprit), which would also fall under the specialty stores category." (Hameide 165-166) Private labels have a hard time competing because they cant move product as quickly as manufacturing brands can. Unless the brand is backed behind a huge company, they rae usually small companies that have boutiques here and there.
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