Essay On Prestige And Prestige

People normally use prestige and luxury interchangeably. But there is a difference between the two. Prestige is something which is based on a unique human accomplishment which is linked to the brand under consideration. Whereas luxury is something which refers to the benefits resulting from a refined and aesthetic lifestyle (Dubois & Czellar 2002). Luxury goods are measured in terms of their functionalism, experientialism, and symbolic interactionism. Whereas aspirational brands are those that are desired when a consumer reaches some desired goal (Ruby Q. Saine, Philip J. Trocchia, Michael G. Luckett 2013). But there is not much literature that exists for these prestige/upmarket brands. One of the literature that examines the issue of brand prestige defines the …show more content…
They have defined 3 dimensions, i.e. functionalism, experientialism and symbolic interactionism (Vickers, J. S. and Renand, F . 2003) in their paper. The functional dimension is associated with physical and service attributes that fulfill consumption needs. The experientialism dimension is associated with the desire of consumers to consumer products that provide sensory pleasure. Experiential dimension is thus linked to luxury products that satisfy intrinsic needs linked to simulation and variety. Lastly, symbolic interactionism dimension is linked to association of owner of the goods with a desired group, role or self-image. The above mentioned papers together thus define 3 brand dimensions – functional, experiential and symbolic. Even the Brand Concept Management framework which defines how to select, implement and control a brand image over time (C. Whan Park, Bernard J. Jawaroski, Deborah J. MacInnis 1986) defines brand concept as a meaning which is derived from the basic consumer needs (i.e. functional, symbolic and experiential). It thus corroborates the results seen in the papers discussed above. The Brand Concept Management has 3