EOC: Chapter Four Discussion Questions

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  1. Explain the social element of luxury brands, and explore how this concept relates to some of the challenges facing luxury brands, such as counterfeiting and parallel markets.

"A LUXURY BRAND can be defined as a brand that consistently delivers a unique emotional value        and possesses the capacity of creating a lifestyle experience through a strong identity, a high level of creativity, and closely controlled quality, quantity, and distribution, all of which justifies asking for a premium price. Now let us examine the definition more closely and dissect its key words for a closer understanding. A closer examination highlights the following terms or notions about luxury brands." It social element is the recognition you receive from sporting a Louis Vuitton purse or a Chanel coat. When people are seen wearing luxury brands, they automatically think highly of you. 

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• 2. What is the meaning of a lifestyle brand? Why are most luxury brands described as such? 

"Brands that successfully identify themselves with a lifestyle and a marketing segment to the point that their name or image is mentally triggered when the segment is mentioned." Luxury brands are lifestyle brands because it pertains to a certain class. Not everyone can afford these brands so when we see a person with these certain brands, we often believe that this person has a lavish lifestyle.

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• 3. Explain how luxury brands seem to defy traditional marketing principles.

Luxury brands' advertisements can be seen in top fashion magazines, such as Vogue and Harpers Bazaar, business publications, and airline in-flight magazines. Unconventional locations such as on buses and public transportation can be seen in some markets such as Paris, London, and New York but are otherwise not very common.

EOC: Chapter Three Discussion Questions

1. Explain the VIP concept, and compare it to the traditional Four P's. 

The marketing mix, also known as the Four Ps, has been the core of market analysis and communication strategies ever since the concept was introduced by Philip Kotler in the late sixties. The Four Ps stand for product, price, promotion, and place. The concept is built on the premise that any communication strategy is built on identifying product attributes, determining the right price, promotion mix, and channel of distribution.

2. Explain the concept of co-branding; give examples. 

The practice of using multiple brand names together on a single product or service. This form of alliance should have potential economic and commercial rewards to both parties. Co-branding agreements should cover marketing strategies, confidentiality issues, licensing specifications, warranties, payments and royalties, indemnification, disclaimers, and termination terms.

3. How do licensing and brand extensions compare as growth strategies.

Fashion brands are an interesting breed of brands in that they are in a continuous state of innovation, transforming themselves at a constant rapid pace. Fashion products usually have a shorter life cycle than other products, and it is this level of innovation and creativity that brings excitement and interest to the brand. Innovation is always a source for growth.

EOC: Chapter Two Discussion Questions

1. Describe the relationship between branding and marketing.

The relationship between branding and marketing is strong and essential. Marketing supports the development of brands in all of its stages; it plays an integral role in the creation of the emotional value through the shaping of the brand personality and then communicating it to the outside world through its various communication channels. We can categorize many of these marketing activities into internal and external activities.

2. How does the decision-making process differ between that of luxury brands and mass-market brands?

 Personality is the component of the identity with the stronger impact because it represents the philosophy and attitude of the brand and, as such, greatly shapes the other identity choices. Personality develops and matures over time through activities, stories, decisions, and interpretations of the corporate vision and strategy. In many ways, lifestyle brands are positioned highly on personality.


3.Explain the meaning of "brand identity" and highlight its role in the positioning strategy.

Branding adds a new dimension to the product as well as a new set of emotional values. In a way, it humanizes the product and establishes an emotional relationship with buyers. While buyers consume their products, they basically experience the brand through its identity. Identity is a combination of the visual/audio symbols and the personality.