How to market a luxury brand and common brand product?
Answers
Answer: There are various types of products in the market running on various marketing strategies. Some of them are penetrative, trying to defeat the competition on the basis of price. Others are competitive, which are taking on the competition by maintaining the same pricing and quality as them. Yet others are premium in nature, trying to outdo competition with their premium image with pricing slightly higher then competition.
And above them all is the Luxury brand. The luxury brand is untouched by competition. It is at a position where the normal market place competition does not exist and people do not haggle for price. Naturally, if you want to reach such a position, you have to you use tactics which are far beyond normal. Hence we present you with 10 tips and tactics of marketing a luxury brand.
Explanation: