Economy or Luxury
So, I was thinking yesterday about being a luxury brand or an economy brand. A brand MUST choose! It's impossible to play the middle effectively, and it's impossible to market that way.
Luxury = A condition of abundance, of great ease or comfort
Economy = Thrifty and efficient use of material resources
Yes, you can have abudance and still have a brand which is seen as an economy brand.
In order to build a brand, a company needs to decide how it will perform and how it will market when it comes to luxury or economy. Which is your company?