@chloeikennedy my roman empire is how & why people signal status: 1. Patricians high wealth, low need for status ex: Loro Piana 2. Parvenus high wealth, high need ex: Birkin lawsuit 3. Poseurs low wealth, high need ex: dupes, Stanleys 4. Proletarians low wealth, low need ex: Carhartt https://t.co/aefs7FrjCk
Gaining status. Luxury brands like Mercedes and Rolex don’t make much practical sense in terms of survival, right? In fact, spending lots of money buying a luxury car when a more common brand would do the trick seems counter to our survival, doesn’t it? Not when you consider the importance of status. Status, in any tribe, is a survival mechanism. I
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By their very nature, brands trade in status: they promise us to be younger, more attractive, smarter, happier, more accomplished, richer. For the longest time, brands operated according to Veblen logic that status is linked to wealth and desirability to price. Now we all have the opportunity to flip the script and link worth and values to our busi
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Knowledge gives products value, and creates a divide between those in the know and those who neither have this Chanel jacket nor know that Vanessa Paradis wore it.
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How luxury transformed from opulence to populace, and what it means for brands
Sara Bernatamericanmarketer.com