Status brand
Encyclopedia
Status brands are brand
s that, through association, inherently increase their owner's popularity in a certain community. Unlike luxury brands, status brands are usually available at different price point
s and thus are available to shoppers of various demographics.
Trendsetters determine the societal and cultural status ultimately associated with a given status brand. For example, entertainment and sports trendsetters promote status brands such as Armani, Prada
, Triple 5 Soul
, and Billionaire Boys Club
. Trendsetters need not be famous, but media promotion often cements a brand's popularity.
Brand strategists Angelito Tan and Daniel Saynt introduced the term as a means of studying the associations between popular brands and top trendsetters. Ranging from apparel to electronics to automobiles, status brands exist across the spectrum of goods available today.
Brand
The American Marketing Association defines a brand as a "Name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers."...
s that, through association, inherently increase their owner's popularity in a certain community. Unlike luxury brands, status brands are usually available at different price point
Price point
Price points are prices at which demand for a given product is supposed to stay relatively high.- Characteristics :Introductory microeconomics depicts a demand curve as downward-sloping to the right and either linear or gently convex to the origin...
s and thus are available to shoppers of various demographics.
Trendsetters determine the societal and cultural status ultimately associated with a given status brand. For example, entertainment and sports trendsetters promote status brands such as Armani, Prada
Prada
Prada S.p.A. is an Italian fashion label specializing in luxury goods for men and women , founded by Mario Prada.-Foundations:...
, Triple 5 Soul
Triple 5 Soul
Triple 5 Soul is a clothing company in the United States, Europe, Australia, Canada and Japan. It was founded in 1989 at 151 Ludlow Street in the Lower East Side of Manhattan, New York City by designer Camella Ehlke....
, and Billionaire Boys Club
Billionaire Boys Club
The Billionaire Boys Club was an investment-and-social club organized by Joseph Gamsky, also known as "Joe Hunt", in southern California in 1983...
. Trendsetters need not be famous, but media promotion often cements a brand's popularity.
Brand strategists Angelito Tan and Daniel Saynt introduced the term as a means of studying the associations between popular brands and top trendsetters. Ranging from apparel to electronics to automobiles, status brands exist across the spectrum of goods available today.