If a consumer bought a luxury handbag for $5,000 before the crisis, but it’s now available for 25% less, brand damage will be significant. Brands risk alienating their most loyal consumers in the hopes of attracting ad-hoc, one-time customers.
Almost all high-priced products get called "luxury" these days, but prices don't define which brands get considered luxury brands. Only extreme value can do that.
Ride share services aren't the only ones exploiting this model.
Move extends network's management-consultancy capabilities into pricing strategy.
Pricing is part of brand communication, so why do so few marketers take ownership for the most neglected of the four Ps?
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