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Is Lowering Prices a No-No for Luxury Brands?

Posted: Sep. 14th, 2013  |  By DailyLuxe News

Will the iPhone remain a luxury product, or will it do well as both a high-end and a mass-market product?

Lowered-price Apple iPhones became available this week. Whether it is a good business move remains to be determined. Very few products can be sold as both general merchandise and luxury. Products offered in both Neiman Marcus and Target, such as Ralph Lauren, do not always fare so well.

The branding of a company is a crucial element to toy for marketing purposes.

It is the firm’s personality. It also is how customers perceive it. When a product is available for all consumers, it tends to lose its exclusivity.

The addition of a cheaper iPhone could help Apple sell tens of millions more phones. But it could also diminish its reputation as a premium brand.

Read More on nytimes.com
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