- Hardcover: 320 pages
- Publisher: Portfolio; Rev Upd edition (29 Dec 2004)
- Language English
- ISBN-10: 1591840805
- ISBN-13: 978-1591840800
- Product Dimensions: 22.4 x 14.8 x 3 cm
- Average Customer Review: 3.7 out of 5 stars See all reviews (3 customer reviews)
- Amazon Bestsellers Rank: 673,453 in Books (See Top 100 in Books)
Trading Up
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Product Description
Product Description
Trading up isn't just for the wealthy anymore. These days no one is shocked when a secretary buys silk pyjamas. Or a young professional buys only premium wines. Or a builder plurges £1500 on a new set of glof clubs. In dozens of categories, these 'new luxury' brands sell at huge premiums over conventional goods, and in much larger volumes than traditional 'old luxury' goods. Trading Up is the definitive book on this growing trend.
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First Sentence
America's middle-market consumers are trading up. Read the first page Browse Sample Pages
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
America's middle-market consumers are trading up. Read the first page Browse Sample Pages
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Customer Reviews
Most Helpful Customer Reviews
12 of 13 people found the following review helpful
Format:Hardcover
In the original and now in this revised edition, Silverstein and Fiske brilliantly examine "New Luxury": a rapidly developing socio-economic trend as America's middle-market consumers are trading up to "products and services which possess higher levels of quality, taste, and [key word] aspiration than [other] goods in the [same] category but are not so expensive as to be out of reach...[trading up to products and services which] sell at much higher prices than conventional goods and in much higher volumes than traditional luxury goods and, as a result, have soared into previously uncharted territory high above the familiar price-volume demand curve." The significance of this paradigm shift has profound implications for literally anyone who competes each day for consumers' attention, consideration, and (most important of all) business.
Think about it. How to explain the spectacular success of diverse companies such as Starbucks, Martha Stewart Living Omnimedia, Lexus and BMW, Williams-Sonoma and Bed, Bath & Beyond, Restoration Hardware, Victoria's Secret, Prada, Coach, Panera Bread, and Callaway? Granted, most consumers cannot afford to purchase everything from companies such as these but an astonishing number of consumers are not only willing but eager to pay a premium for at least a few of the products offered.
Why? Silverstein and Fiske offer several reasons. New Luxury merchants never underestimate their customer; they shatter the price-volume demand curve; they create a ladder of genuine benefits (i.e. technical, functional, and emotional benefits); they escalate innovation, elevate quality, and deliver a flawless experience; they extend the price range and positioning of the brand; they customize the customer's value chain to deliver on the benefit ladder; they use influence marketing to "seed" success through brand apostles (i.e. "evangelism"); and finally, they continually attack the category like an outsider. What Silverstein and Fiske offer is this volume is a rigorous analysis of those companies which continue to be most successful in the New Luxury economy. They also explain in detail precisely HOW they achieve such success.
Format:Paperback
This book has a lot of hype about it and I therefore purchased it with great expectations. It's failed to peak my interest after 2 chapters, so not sure if I'll keep reading.
2 of 3 people found the following review helpful
Format:Paperback
The book was published in 2003 by some guys from the Boston Consulting Group. It talks about how people will pay a premium for certain higher priced products. The book comes to its point through a number of case studies. It gives the history of such companies as Panera, Chipotle, Samuel Adams, BMW, Callaway, and Victoria's Secrets and discusses how these companies were able to be successful selling in mass higher priced items. If anything, it was fascinating to read about the histories of these companies. I especially am excited to have more knowledge on Victoria's Secret.
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