IntroductionThe basis on which good repute in any highly
organized industrial community ultimately rests is pecuniary
strength; and the means of showing pecuniary strength, and so of
gaining or retaining a good name, are leisure and a conspicuous
consumption of goods. -Thorstein Veblen (The Theory of the Leisure
Class (p. 51)) Brand prominence:It is defined as a construct
reflecting the conspicuousness of a brands mark or logo on a
product. This principle in particular has great implications in
marketing as consumers are divided into four distinct groups based
on their wealth and need for status.
Research has proved that Have-nots in need of status tend to
purchase counterfeit products to emulate the Haves Haves with high
need of status will purchase loud luxury goods to signal to the
Have-nots that they are definitely above them Haves with low need
of status will buy premium quiet luxury goods that only they can
recognizeSimilarly research has established interesting hypotheses
between Brand prominence & Price: Luxury brands charge more for
quieter products. This is in line with the behavior of Haves with
low need of social status where the quitter good are identifiable
only in this class Brand prominence and counterfeit goods:
Counterfeit products allow Have-nots to separate status and quality
by allowing them to pay less for status while still compromising
for quality. Research suggests that counterfeits tend to copy loud
originals more than the quitter ones, price not being a significant
decision variable Recognizing Subtle Brand Cues: This study
indicates strongly how the Patrician class judges the values of
luxury goods based on subtle design features instead of relying on
loud brand markings. This is also one behavior that sets apart the
Patricians from the Parvenus. Associative/Dissociative Motives and
Brand Prominence: Research proves that while Patricians do not
deliberately try to dissociate with other social classes, Parvenus
have a strong tendency to dissociate with Have-nots in their
attempt of associating with other Parvenus and most importantly,
Patricians. This behavior further has implications that while the
Parvenus or the Haves with large status need tend to buy louder
products, Patricians or the Haves with less need of status go for
the difficult to emulate quieter products. Managerial
Implications:Managers need to develop a griffe or a set of special
signatures or subtle cues so as to set apart their brand from the
clutter which will help concerned consumers identify the brand even
in the absence of an explicit logo.Cross-selling of lower priced
product line under a prestigious umbrella brand can definitely help
a manufacturer to boost its sales and can be big booster in short
term sales.Marketers of luxury brand can advertise to everybody
including their target market through aspirational positioning so
as to increase the associative tendencyEyewear:Brand:
Vogue:Findings: High priced eye glasses ranging from Rs. 3591 to
5931/- Different price points are: 3591, 3861, 4131, 4491 and 5931
Initially logo size remains almost same (M) for the first two price
points, thereafter reducing to S and later becoming barely visible
for higher price points
Other Logo findings: Certain higher price points have only
single letter V in a small font Certain high price points have
fainter logos camouflaged by the color of the glasses, others have
logos shifted to the extreme end and the rest have barely visible
logosConclusion:The hypothesis that for a luxury brand, logo size
reduces as price increases is satisfied in case of Vogue
brandBrand: Emporio ArmaniFindings: High priced eye glasses ranging
from Rs. 9000 to 13500/- Different price points are: 9000, 9500,
10000, 11500 and 13500 Emporio Armani maintains the strategy of
having the same logo irrespective of the price range. Usually, the
logo is placed with large size on the rim of the eyewear and the
brand name is placed either on the back side of rim or on the front
side of the rim. Conclusion:The hypothesis that for a brand like
Emporio Armani, logo size or brand name doesnt increase or decrease
with the increase or decrease in the price.Brand: Ray BanFindings:
High priced eye glasses ranging from Rs. 4490 to 17990/- Products
available for men, women and children at a range of price of price
points Multiple product categories Wayfarer, Aviator, Club Master,
Justin , Erika Different price points are: 3591, 3861, 4131, 4491
and 5931 Ray Ban is one of the very few brands that has been able
to transition from budget to luxury, helped by its branding and
spurred by the movie. Breakfast at Tiffanys. The logo is present of
the lens of all models, irrespective of product line. For thick
framed glasses (where the logo can be fit), it is imprinted on the
frame. The size remains same for all products.Conclusion:
The hypothesis that for a luxury brand, logo size reduces as
price increases is not satisfied in case of Ray Ban brand
References:http://classic.marshall.usc.edu/assets/125/21653.pdfwww.lenskart.comhttp://www.gkboptical.com/emporio-armani/http://www.ray-ban.com/india
