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 | | Let Them Eat Cake: Marketing Luxury to the Masses - As well as the Classes by Pamela Danziger ISBN-10: 9780793193073 ISBN-10: 0-7931-9307-9 ISBN-13: 9780793193073 ISBN-13: 978-0-7931-9307-3 Hardcover 2005-01-01 Kaplan Business Find Lowest Price |
Editorials | ||
Product Description In Let Them Eat Cake: Marketing Luxury to the Masses—As Well as the Classes, readers will get the first research-based study of the 15 million truly affluent households that make up the leading edge of the new luxury market. Pamela Danziger notes that the luxury market is changing radically from the conspicuous-consumption consumers of the 1990s. Danziger conducted a two-year research study of luxury consumers with incomes of $75,000 and above and discovered a totally new type of luxury consumer. Called the "butterflies," these most affluent of affluent consumers have emerged from their luxurious cocoons and are turning their focus from the home to the outside world. Designed to give marketing practitioners an insight into what luxury means to the consumer, Let Them Eat Cake covers the natural evolution as today’s luxuries become tomorrow’s necessities, as products move "from the classes to the masses." Readers will learn: • How to "get it right for the masses" and how to "get it right for the classes" with profiles of companies that exhibit best practices in luxury marketing Danziger outlines the purchase behavior and preferences in the nine categories of home luxury products (e.g., furniture, art, antiques), four personal luxuries (e.g., automobiles, fashion), and six experiential luxuries (e.g., luxury travel, spa/beauty treatments). As businesses compete in an increasingly crowded marketplace, Danziger also describes the six key consumer trends in luxury marketing and strategies that marketers can implement to build their luxury brands. | ||
Reviews | ||
The truth about luxury Undiscovered information about the luxury fashion business. Realistic views with psychological analysis of consumer behaviour. | ||
A disappointing read........ I was quite disappointed in this point as I though it was going to go more in depth as to "why and how" companies are marketing to the masses AND classes. Instead, what I got was a lot of repetition about how each luxury buying group the writer has created chooses to spend their money. This is stated very early on in the book and repeated without any new data several times thoughout, which gets tiresome quickly. There are charts and graphs to back up this same data but even they are repeated multiple times. Skip this one if you are looking for more substance. | ||
Very disappointing This is one of the two books that I purchased about luxury products, the other being Trading Up. After seeing the recommendations on this book I thought it would be an insightful read, instead it regurgitates the form and data of "Trading Up." The author also makes note of the book. I was dissapointed by this book and the way it was written. The author presents a deluge of data and consumer opinions. There are numerous charts that present surveys and polls but the book fails to extrapolate on the data. In numerous occasions, references to specific years in which a certan luxury good had higher growth or lower growth are cited but the author failed to site why and if this trend would continue. It also fails to describe why luxury goods companies have done so well. Only a brief page or two is written about a company and it's products but fails to establish what drives demand for luxury goods. The book scratches the surface of the psychological buying factors for luxury goods, other than for the "experience." For a much better read, read Trading Up. | ||
More than a simple "marketing" book...very impressed! According to this author, it can be tougher than ever to sell luzury goods to the American consumer. In the past, factors like snob appeal and appeals to class and "taste" were enough to get people to buy certain items. They wanted to appear to be "in the know" or to be like certain people who were. These days, it is much harder to get people to buy luxury items, to drop the bucks and make the purchase seem worth the price. The difference between the past and the present? Creating a total and even MEANINGFUL experience, convincing the buyer that purchasing a particular item or experience will enhance his or her life. They might even want to feel that spending a zillion bucks is a PRACTICAL decision. The author not only explains why buyers purchase luxury items today but will show you how to go about convincing them to buy YOUR items. If you aren't in the business of selling luxury items, you'll still find this a fascinating read - as it shows you WHY you might fall prey to the appeal of certain "luxury" goods, for better or worse. | ||
Thorough and Well Organized In this book, the author gives a thorough analysis on the contemporary U.S. luxury market and presents principles to the marketers who would like to capture this market successfully. In the first two chapters of the book, the author defines today's luxury market and the term "new luxury." In short, new luxury is more about experience than about money or expensive things, although such an experience cannot be obtained without money. As Americans, especially the baby boomers, have more disposable income to spend, what they crave is the experience of self-actualization and expression of individuality. This is different from the old snobbish and arrogant concept of luxury, which emphasizes exclusivity. For example, having some quietness for taking a cup of good coffee while enjoying the view of the city is counted as a luxurious event by some people. In chapter three, the author defines the consumers in this luxury market with basic demographic information. In subsequent chapters, discussion continues along the four traditional Ps in Marketing: Product (what different luxury consumer groups buy and why), Price, Promotion, and Place (where they shop). One interesting finding is the fact that, these shoppers are frugal and they are bargain hunters. They buy everything on sale unless sales are not common in a category, such as fragrances and beauty products. They do not need to shop this way but do so because they are wise and value-conscious. Then the author's writing turns to the marketers with important advice derived from the nature of this market, distinguishing the myths from the facts. The last chapter is a summary of the book. The contents of this book are based on empirical research performed by the author and her colleagues. In addition, it includes the personal opinions of many people doing business in the luxury market. These interview excerpts add valuable practical information to the book and enhance the validity of the contents. The writing style of the author is clear and easy to understand. I see this book as another step beyond Trading Up. It gives an even more focused treatment to this social trend of consumer spending. The title of the book, Let Them Eat Cake, is derived from the author's statement "Let your consumers go to Wal-Mart to get their plain white bread, but when they come to you, `let them eat cake here!'" | ||