Luxury goods... Brands!

Do you like to show your luxury goodies to the worlds? Do you think that your social status depends on your new Gucci, Mercedes or Louis Vuitton? It might be that you are being influenced by the so called "haves"; people who have enough money to buy expensive luxury products. The European Institute for Brand Management published a reasearch about the social status that people (like to) gain by showing their new and expensive goods (2010).

The research showed that the value of luxury goods is related to the amount of social status that one needs. Society can therefore be divided into "haves" and "have-nots". "Haves" are the people who are able to buy the most expensive products and are trendsetting. "Have-nots" are people who are not able to buy expensive brands, but are definetely willing to.

The rich and famous as well as the people who cannot afford expensive luxury, are relating their social status to brands. Some like to show their expensive goods, others do not. The "haves" - for example (some) reality stars, actors, or singers - can influence the "have-nots" - for example (insecure) teenagers who are watching reality shows or people that like to associate themselves with famous movie stars. The last group of people will buy luxury brands anyway, save for it or will buy fake ones.

Fake products, such as the fake Louis Vuitton handbangs or the fake Rolex watches that can be bought on every street corner in for example Thailand or Turkey, are very populair with the "have-nots" group. For this group their social status is so important that they rather buy a fake handbag, than buy no handbag at all. What this group does not realize, is that an enormous criminal network is behind the production of fake products and that they are contributing to that network as well.

Rather wear fake than no brand at all or like to show off your luxury goods? See what kind of type you are: http://www.eurib.org/bibliotheek-kenniscentrum/kenniscentrum/strategisch-merkenbeleid.html