Status brands are
brand
A brand is a name, term, design, symbol or any other feature that distinguishes one seller's goods or service from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create and ...
s that, through association, inherently increase their owner's popularity in a certain community. Unlike
luxury brand
In economics, a luxury good (or upmarket good) is a good (economics), good for which demand (economics), demand increases more than what is proportional as income rises, so that expenditures on the good become a more significant proportion of ove ...
s, status brands are usually available at different
price point
In economics, a price point is a point along the demand curve at which demand for a given product is supposed to stay relatively high. The term "price point" is often used incorrectly to refer to a price.
Characteristics
Introductory microec ...
s and thus are available to shoppers of various demographics.
Trendsetters determine the societal and cultural status ultimately associated with a given status brand, often disseminated nowadays through social media.
Trendsetters need not be famous, but media promotion often cements a brand's popularity.
Brand strategists
Angelito Tan and Daniel Saynt introduced the term as a means of studying the associations between popular brands and top trendsetters. Ranging from apparel to electronics to automobiles, status brands exist across the spectrum of goods available today.
References
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Brand management