By Paul Pannone
Growing pressure caused by challenging economic conditions force consumers who are trying to make ends meet to buy merchandise at lower prices. But when is a bargain not a bargain?
In an eWedNewz investigation experts warn about merchandise with little or no salable market. In the past consumers were less informed of materials and manufacturing methods. Today with the help of Social Media the word quickly spreads on products and services that do not meet the ever-growing demand of consumers.
“Basically, you want to buy only desirable merchandise. Some times merchandise shows up with closeout dealers because it wouldn’t sell in a store,” according to one expert.
Others agree saying as the notoriety of a brand name increases so does the standard of quality demands for fit, construction and overall performance expectations. But with the faltering economy the line of distinction between a world-class brand recognized by consumers and made-up, fictitious names can be easily mistaken by buyers who think they’re saving money when ordering merchandise.
Unknown brands use cheaper pricing to build their business while true brands leverage image and consumer demand to command higher pricing and higher margins for retailers, while delivering sustained quality assurance and value to consumers. It’s important to remember products bearing the name of a recognized brand known for quality in a variety of item translates into higher pricing power and ongoing ability to perform to everyone’s expectations.
According to Ask.Reference.com Brand is often the company name or logo referenced for a specific business. “Branding” is when their name, logo or company specific identifiers are strategically placed to better market their brand to the consuming public.
Vera Wang tops other more-established tuxedo names but remains behind tuxedos bearing higher world-class branded recognition.
In today’s difficult economy even recognized brand names are forced to become affordable to compete with the growing choices offered to consumers. Such was the reason Vera Wang expanded her base of consumers by collaborating with David’s Bridal, creating a more affordable product but becoming the most expensive line at David’s. Strategically the Wang line became mainstream while lifting David’s pricing ability to a wider consumer base.
The Vera Wang organization followed-up by expanding into the men’s tuxedo business, collaborating with Men’s Wearhouse, creating style and demand in a yet another strategic alliance. Searches for Vera Wang tuxedos blew past established names in the formal wear business.
In our ongoing investigation into this story eWedNewz learned that the greater demand and brand recognition the higher the risk of being imitated, copied and tampered with. In the case of Giorgio Armani the probability of being copied bears the greatest risk of creating excellent designs. Descriptions and accounts of fake Armani products concludes imitation really is the sincerest form of flattery; we haven’t found many accounts of pirates copying styles or products that nobody wants.
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