Section 4: Classic Luxury - different facets of prestige

Question 1

Prestige

Answer 1

Central thing to understand customer value in luxury

Closely connected to the social signifier

Question 2

What 3 things set luxury apart from being just good quality?

Answer 2

1. History
2. Heritage - bordeaux wines
3. Founding myths

Question 3

Conspicuous consumption

Answer 3

Luxury brands used by customers to signal that the customer is prestigious

Question 4

conspicuousness

Answer 4

deliberate display of one’s prestige

• showing off luxury products
• engaging in luxury services
• displaying attractiveness, achievements, skills etc

Question 5

What does the social signifier actually say about a customer?

Answer 5

That they are set apart from other customers by owning or consuming the specific social signifier.

Question 6

4 different types of customers!

Answer 6

1. Patricians
2. Parvenus - Gucci
3. Poseurs - want to be
4. Proletarians - don’t care

Question 7

For whom is luxury products often a strong signal?

Answer 7

Women. Men should convey: prestige, determination and wealth

Question 8

What is more important for men?

Answer 8

Beauty. Conveys beauty, youth and attractiveness

Question 9

Glamour

Answer 9

Seamless integration of effortless beauty and idealised detachment.

Combination of person, clothing and accessories departing from the conventional to create glamour.

Attraction through elegance and beauty rather than overt sexuality

Question 10

Why is using glamour often a safer option?

Answer 10

Because it represents the idealised and stylished image luxury brands want to convey but without running the same risk as generating controversy.