So what do marketers call the consumers who are sucked in by a brand, and buy something because it is expensive on priciple?
They are called STATUS oriented and marketers LOVE them. Oh, there it is some lovin flowing back to the consumer. Well well well.
PRODUCT X emerges from the factory along with it’s twin PRODUCT Y. PRODUCT X is destined for the high end market. So it is put in swanky packaging with words like “exclusive” “luxury” etc. And then given a corresponding price tag. If you think of beauty products, sometimes exclusive, luxury high end face goo is worth about a hundred times as much as cheap end moisturiser. Can it be one hundred times better?
I remember speaking to a marketer in the 90s about this. She was so excited about how marketing was going to come into its own in the 21st century. Because the products wouldn’t differentiate themselves, being essentially identical. Marketing would have this new and exciting field of creating difference in the packaging and advertising of the products.
Status oriented folk. Be careful.
Vals 2 Typology was still being used when I did my study in Corporate Communication. Can’t garauntee that it’s still in vogue. It split the STATUS oriented types into two groups, the successful ACHIEVERS and the try hard but not really successful STRIVERS. Both types will live beyond their means to get the right brand.