Parle G biscuits and Prada Sunglasses
This is yet another favorite topic of mine. Brand valuation.
How does one ascertain the price tag for a given product. Or put differently, how does the market agree to the price tag of a exotically priced product ?
Parle-G biscuits have a glorious history of serving the masses and hence served at the lowest price point. In other words, its a volume based product with negligible profit margins.
Prada sunglasses start retailing at around 200 US dollars and go all the way till even 1000 US dollars.
How does one feel happy shelling out their hard-earned money for getting a pair of cool sunglasses ?
I guess, the emotions people take( or maybe fake) after wearing a Prada sunglass is engineereed. People act with confidence, feel that they need to walk and talk as if they have dropped in from heaven. Maybe that's a good reason why people buy these products ( for the " feel-good " factor).
This is true not only for Prada sunglass, but equally true for other high end items like a BMW car or a Harvard college degree.
Being with the "masses" gives you a feeling of security ( a Eastern value). Being with the "Classes" gives you a feeling of being a celebrity ( a Western value).
Depending on the products people consume, we can observe and infer some conclusions regarding their value system...
How does one ascertain the price tag for a given product. Or put differently, how does the market agree to the price tag of a exotically priced product ?
Parle-G biscuits have a glorious history of serving the masses and hence served at the lowest price point. In other words, its a volume based product with negligible profit margins.
Prada sunglasses start retailing at around 200 US dollars and go all the way till even 1000 US dollars.
How does one feel happy shelling out their hard-earned money for getting a pair of cool sunglasses ?
I guess, the emotions people take( or maybe fake) after wearing a Prada sunglass is engineereed. People act with confidence, feel that they need to walk and talk as if they have dropped in from heaven. Maybe that's a good reason why people buy these products ( for the " feel-good " factor).
This is true not only for Prada sunglass, but equally true for other high end items like a BMW car or a Harvard college degree.
Being with the "masses" gives you a feeling of security ( a Eastern value). Being with the "Classes" gives you a feeling of being a celebrity ( a Western value).
Depending on the products people consume, we can observe and infer some conclusions regarding their value system...
Labels: Branding
posted by Chandrashekar | 12:28 AM
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8 Comments
