Trading up

Essay by paulsannaUniversity, Bachelor'sA, March 2008

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Marketing Reviwe: Trading UpThe post World War II era of products deficit created a new society for mass produced goods, aimed at population with relatively higher income than working class. The demand for intangible goods such as cars, household necessities and leisure combined with technological invitations gave birth to the so called trend - "Trading UP". The average consumer now is more sophisticated, has more specific tastes and wants, as well as expectations of the goods he/she is purchasing, therefore is willing to spend more money than he/she usually would. The luxury products previously targeted at elite now are available for a middle class market. The old luxury products are being replaced by the new luxury defined by high quality and design but more prices accessible. In the following report, I am going to discuss the Trading Up phenomena based on in-depth analysis of various articles found in weekly periodicals.

Even though, the trading up phenomena creates high brand loyalty - every marketer's dream, it has its other side of the coin, such as, prestige loose, emergence of unauthentic products and consumers' trading down on goods. Firstly, I will draw a brief outline of issues /facts described in the articles and then analyze its relevance to today's marketing management environment.

The first article in my review is "New Luxury Caters to the Middle Class" bublished in the CNN online magazins describes the trading up trand in today's society. Most importantly it covers the forces that lead middle consumer target audience to chose 'new luxary" product over conventianal goods offered on the market. In today's higly technological media envinroment we reacive numerous massages about owr dreams , emmotianal needs, importance of achiving selfactualization and basicaly feel good about who we are. Most of the time, the massages and visual...