How upper classed brands in John Lewis are able to get lower classed Assignment

How upper classed brands in John Lewis are able to get lower classed individuals to buy their products also - Assignment Example John Lewis fashion department can be considered as a store within a departmental store. This is a new approach comprising of brands like Mint Velvet, Damsel, Coast, Miss Selfridge and Whistles. There is even a beauty department located in the store encompassing brands like Benefit, Tom Food and Jo Malone. Menswear section within the store also highlights some well-known brands such as Levi’s, Barbour and Polo Ralph Lauren. There are even some new brands included in this departmental store like Penfield and Eleven Paris. Upper class brands are usually purchased by customers who are brand conscious. There is a link between brand and culture. Societal cultural dimensions play a significant role when it comes to purchase decision. It can be stated that social class, gender and race are key elements during final purchase decision making. Lower class people often do not purchase such high valued items. The reason behind this is it is perceived that such upper class brands are purcha sed only by upper class market segment. This kind of perception influences all key factors that are involved in buyer decision making process. In this study it shall be analyzed how upper class brands within John Lewis are able to attract customer’s attention belonging to lower income class segment. According to Holt (2004), a brand can be defined as a term, name or a design that distinguishes product or service of one manufacturer from others. Brands are normally utilized in advertising, business and marketing. In accounting terms, brand is an intangible asset which is present within every organization. It is most valuable asset that is outlined in the balance sheet of a company. Brands owners need to effectively manage their brands in order to enhance shareholder value. Brand valuation is an important technique that associates money with a brand. Effective branding often results into high sales volumes of a particular