4 - Luxury & Masstige

Question 1

segments in luxury

Answer 1

trading down:
absolute luxury
lifestyle luxury
accessible luxury

Question 2

absolute luxury

Answer 2

unique pieces
made-to-measure
handcrafted
precious materials
exclusivity

Question 3

lifestyle luxury

Answer 3

limited editions
quality + style
heritage
brand identity

Question 4

accessible luxury

Answer 4

high fashion content
price/quality accessibility
power communication

Question 5

uber premium

Answer 5

truly out of reach of the vast majority of consumers

• trading up in luxury segment

Question 6

masstige

Answer 6

brands/products w/ high end characteristics but w/ accessible prices + locations to a mass consumer audience

• blurring distinction b/w prestige + mass across marketing mix

(mass market trading up)

Question 7

masstige product offers

Answer 7

• affordable luxury
• collaborations
• commodity chic

Question 8

masstige purchasing drivers

Answer 8

• selective extravagance
• mix and match
• renting + sharing

Question 9

communication in masstige

Answer 9

signature of designers/celebrities = elevate product status

models for testimonials in ads

creating limited editions

occupying high-traffic locations

investing in huge retail space

Question 10

key differences b/w luxury and masstige

Answer 10

excellent quality

tradition + heritage

distribution exclusivity

made-to-measure service

masstige:

• offers mass experience
• differentiation focuses on a single feature, they cannot afford to offer a luxury system (act on all fronts)