According to Anti-Law #14, what should luxury brands focus on regarding pricing strategy?

According to Anti-Law #14, what should luxury brands focus on regarding pricing strategy?

• A. Lowering prices to increase sales volume
• B. Maintaining a stable price point
• C. Increasing the average price of their products
• D. Offering discounts to attract new customers

Answer: (C)

Luxury brands should focus on increasing the average price of their products to align with the core principles of exclusivity and prestige that define the luxury market. By raising their prices, these brands can reinforce the perception of high value and quality among consumers. This strategy not only attracts affluent customers who associate higher prices with superior craftsmanship and exclusivity but also maintains a sense of desirability and brand elevation. In this context, a higher price point helps luxury brands to position themselves as premium offerings in the marketplace, solidifying their image and attracting a clientele that seeks unique and prestigious products. This approach is also consistent with the idea that luxury consumers often equate high prices with exclusivity, making them more likely to invest in products that reflect their status. Options that suggest lowering prices, maintaining stable prices without any strategic increase, or offering discounts contradict the luxury branding philosophy. These strategies do not align with the desire to create an image of exclusivity and prestige, which is fundamental for luxury brands aiming to connect deeply with their target audience.

Luxury brands should focus on increasing the average price of their products to align with the core principles of exclusivity and prestige that define the luxury market. By raising their prices, these brands can reinforce the perception of high value and quality among consumers. This strategy not only attracts affluent customers who associate higher prices with superior craftsmanship and exclusivity but also maintains a sense of desirability and brand elevation.

In this context, a higher price point helps luxury brands to position themselves as premium offerings in the marketplace, solidifying their image and attracting a clientele that seeks unique and prestigious products. This approach is also consistent with the idea that luxury consumers often equate high prices with exclusivity, making them more likely to invest in products that reflect their status.

Options that suggest lowering prices, maintaining stable prices without any strategic increase, or offering discounts contradict the luxury branding philosophy. These strategies do not align with the desire to create an image of exclusivity and prestige, which is fundamental for luxury brands aiming to connect deeply with their target audience.