Status brands are
brand
A brand is a name, term, design, symbol or any other feature that distinguishes one seller's good or service from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create ...
s that, through association, inherently increase their owner's popularity in a certain community.{{Fact, date=October 2007 Unlike
luxury brand
In economics, a luxury good (or upmarket good) is a good for which demand increases more than what is proportional as income rises, so that expenditures on the good become a greater proportion of overall spending. Luxury goods are in contrast to n ...
s, status brands are usually available at different
price point
Price points are prices at which demand for a given product is supposed to stay relatively high.
Characteristics
Introductory microeconomics depicts a demand curve as downward-sloping to the right and either linear or gently convex to the origi ...
s and thus are available to shoppers of various demographics.
Trendsetters determine the societal and cultural status ultimately associated with a given status brand. For example, entertainment and sports trendsetters promote status brands such as
Armani
Giorgio Armani S.p.A. (), commonly known as Armani, is an Italian luxury fashion house founded in Milan by Giorgio Armani which designs, manufactures, distributes and retails haute couture, ready-to-wear, leather goods, shoes, accessories, and ...
,
Prada, Triple 5 Soul, and
Billionaire Boys Club
The Billionaire Boys Club was an investing and social club organized in 1983 by Joseph Henry Hunt (born Joseph Henry Gamsky) in Southern California. It was originally simply named "BBC", the initials of Bombay Bicycle Club, a restaurant Hunt had ...
. 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.
Brand management