Emergence of Masstige Marketing in India
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Transcript of Emergence of Masstige Marketing in India
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EMERGENCE OF MASSTIGE
MARKETING IN INDIA
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MASSTIGE • Masstige is a term introduced by Michael
Silverstein and Neil Fiske• The term Masstige is derived from the words
Mass + Prestige
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OBJECTIVE:
To know whether Luxury products acquire new customers without affecting the product image.
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Research Methodology
SECONDARY DATA:• Articles about masstige and by research papers• Collected by interacting with corporate
personalities• Dr. Justin Paul – Author of export management
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EVOLUTION OF LUXURY MARKET
Due to a variety of reasons, the luxury market has evolved into different types like• a. Accessible Super Premium products which are
priced in such a way that middleclass will be able to afford it.
• b. Old Luxury brands extending downwards to catering to mass market
• c. Mass prestige brands or Masstige brands which occupies the sweet spot between Mass and Class.
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MASS MASSTIGE PRESTIGE
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CAUSES OF MASSTIGE IN INDIA:
• Rise of Income • Discount retailing • Emotional awareness• Nuclear Urban Families
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CHALLENGES
• To retain the company’s image in the Niche market• To attain new customers without losing its old loyal
customers • Acquiring customers without compromising on the
quality of the product
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• Murjanis and Arvind Mills operate TOMMY HILFIGER through a Joint Venture • In 2004, Tommy Hilfiger became the first global designer brand to tap India's
potential for super-premium fashion retail when Murjanis floated an equal joint venture with Arvind.
• Tommy Hilfiger used the method of Masstige market In India by introducing Watches , Apparels and Accessories.
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• Middle class • Aspirational tastes but
down-to-earth value-consciousness.
• Kingfisher Airlines
MASSTIGE MARKETING IN INDIA:
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FINDINGS
• Luxury and global brands are trying to penetrate and acquire customers in India
• Luxury brands are now producing affordable products under the same brand name
• The Brands are now providing its loyal customers with loyalty cards, services as well as exclusive products
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RecommendationsCUSTOMER POINT OF VIEW:• High quality products & services at Reasonable prices
COMPANY’S POINT OF VIEW:• To survive in the market • To increase sales volumes
• Compete in the global market
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THANK YOU