Hi, I need help with essay on Luxury Branding and The Online Shopping Environment. Paper must be at least 1500 words. Please, no plagiarized work!
The researcher states that luxury branding utilizes the experience and loyalty to sell fantasy to target customers. Companies offer exclusivity and distinction in order to create a lasting perception of the brands. The emotional relationship between the customer and the luxury product will determine the level of willingness to purchase a product or service. Miller and Mills argue that the functional benefits of the brands may not play a significant role in the management of the luxury brands. A framework of luxury brands in the 21st Century involves a number of products that consists primarily of beauty, beverages, jewelry, automobiles, property and fashion products. The brands depend mainly on the opinion of the public and its relevance to the luxury consumers. Consumers are engaging in symbolic consumption due to the similarity between the personality of the luxury brand and end users. There has been increased interest in the brand personality concept because of the perceived symbolic benefits in luxury brands. The consumption of luxury brands occurs through a transition similar to Maslow’s Hierarchy of needs. Acquisition of luxury automobiles entails a transition from the basic car, through utility, quality, and premium to the luxury. A consumer with a luxurious personality would prefer a Rolls Royce as opposed to a basic Dodge model. An emphasis on taking advantage of the customer is vital to creating strong symbolic brand identities. Luxury brands defy the conventional marketing models. The marketing process is a paradox for many companies due to a great emphasis on high prices, quality, and publicity. Creation of brands that are highly visible in the marketplace is a top priority for firms producing luxury products. A model for brand concept entails high brand awareness with a high perception of quality.