Types of goods and pricing strategies
Andrea Belanche Castillo
Index
1.
5.
Presentation of the case study
Main goal of Chanel'snew pricing strategy
2.
6.
Why should you care
Characteristics of Veblen goods
3.
7.
What are Veblen goods
Possible challenges
4.
8.
Determinants of demand
Key takeaways
Key objective of the presentation: to learn about the pricing of luxury goods
Case study: The Chanel 2021 price increases
The global luxury apparel market value was $308.7 billion and is forecasted to grow by more than 7% in the next three years.
2 DETERMINANTS OF DEMAND FOR VEBLEN GOODS:
1. Price of the good 2. Purchasing power of consumers
America's middle-market consumers are trading up to higher levels of quality and taste... they are willing to pay premiums for tradiitional luxury goods, not before found in the mass middle market.
Hardvard Business Review
Main goal:
MAIN CHARACTERISTICS OF VABLEN GOODS
1. High quality products2. Connote status in society
Main risk Chanel faces:
Increase in price needs to be supported by the consumers' believe in the quality of the product.
What can Chanel learn from Hermes?
KEY TAKEAWAYS
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Created on November 14, 2023
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Transcript
Types of goods and pricing strategies
Andrea Belanche Castillo
Index
1.
5.
Presentation of the case study
Main goal of Chanel'snew pricing strategy
2.
6.
Why should you care
Characteristics of Veblen goods
3.
7.
What are Veblen goods
Possible challenges
4.
8.
Determinants of demand
Key takeaways
Key objective of the presentation: to learn about the pricing of luxury goods
Case study: The Chanel 2021 price increases
The global luxury apparel market value was $308.7 billion and is forecasted to grow by more than 7% in the next three years.
2 DETERMINANTS OF DEMAND FOR VEBLEN GOODS:
1. Price of the good 2. Purchasing power of consumers
America's middle-market consumers are trading up to higher levels of quality and taste... they are willing to pay premiums for tradiitional luxury goods, not before found in the mass middle market.
Hardvard Business Review
Main goal:
MAIN CHARACTERISTICS OF VABLEN GOODS
1. High quality products2. Connote status in society
Main risk Chanel faces:
Increase in price needs to be supported by the consumers' believe in the quality of the product.
What can Chanel learn from Hermes?
KEY TAKEAWAYS