Which luxury brands are attractive – and which are only well-known?
1. Oktober 2012 ▪ Reading time: approx. 0:50 min.
- Which luxury brands are just well-known and which ones do people really want? And which are not as widely known, but all the more attractive? We answered these questions with the help of the BrandTrust Performance Monitor, a four-field matrix we developed.
We looked at 40 luxury brands in terms of these questions. The graph shows the positions of these luxury brands in a national comparison as well as in each country examined: China, USA, and the DACH States.
The illustration is based on our BrandTrust Performance Monitor: We use it to determine the relationship between the awareness and attractiveness of a brand. To place the brand on the four-field matrix, we use the following criteria: awareness, loyalty, recommendation, cross-selling, and price premium.
These are the four fields of the BrandTrust Performance Monitor:
- No Brand: In this field we find brands with the lowest awareness and the lowest attractiveness ratings.
- In Brand: These brands score high on attractiveness, but low on awareness.
- Star Brand: These brands are very well known and are also very attractive.
- Out Brand: Brands with high awareness but low attractiveness.
The study design: We asked 1,491 persons, all from the top ten percent of the income range, meaning the relevant income group for luxury brands. The sample consisted of 509 respondents from Germany, 202 Austrians, 267 from Switzerland, 255 from the USA, and 258 from China. The survey was conducted in August 2012.
The comprehensive study "New Luxury and Brands Reloaded" offers exciting information about the idea of luxury in the individual countries.
Managing Partner Brand Trust GmbH