Readers, do you think designer sunglasses are worth it? Would you pay a premium dollar to rock that logo near your temples? They supposedly have the proper protection. I never had bought designer sunglasses yet.. They are very expensive! Besides, it has just the same design with the fake sunglasses I bought and the special part of fake is cheap. That was just my own opinion.
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The brand has come a long way since its original inception in , and is now regarded as one of the top retailers for luxury leather goods. Their sunglasses compl with the brand's norm of elegance meets futuristic design. Usually, a pair of Fendi's sunglasses will go for a few hundred dollars. Again, it's not exactly an extremely reckless purchase, but very few people outside of the rich and famous have the buying power to acquire a pair of these babies!
If you're looking for finesse, then this is the brand that will deliver it at your door. Well, probably not at your door, but certainly at one of their gorgeous boutiques spread all across the globe. Cartier is known for producing some of the most beautiful and expensive jewellery out there, and sunglasses are no exception. When something sounds Italian, it's pretty hard to not immediately associate it with luxurious and high-quality.
And even though Lugano Diamonds is actually America, the second part of this statement very much applies to the company founded in They started by selling some of the most beautiful and exquisite jewellery in the world, but soon branched out into the world of sunglasses.
The keyword when it comes to Lugano Diamonds and their sunglasses is uniqueness. You won't see pieces like these anywhere else in the world! This actually Italian brand has been around since the 18th century. It was originally founded in Rome, but it's unique and exquisite offer of leather accessories, perfumes, jewellery, and watches, quickly turned it into a world-wide phenomena.
The style and quality associated with Bvlgari is present in every single one of their pieces, including, of course, sunglasses. And not just any kind of sunglasses, but those who are incrusted with diamonds and other precious stones. When you are a car manufacturer, saying that the leap towards producing accessories is a big one is an understatement.
But Bentley had one thing that not all car brands can brag about, and that's an incredible reputation for coming up with some of the prices, most luxurious models out there. Generally, people between the ages of 35 and 54 are a little bit less affected by it, maybe because they're too busy, maybe because they have confidence in what they've already bought. But the kids starting, I would say, probably — we used to say starting at 15, that's now sort of starting at 12, they're very much kind of encapsulated by what brand they're wearing and they don't want to be out of the group.
MYRLAND: Now as a marketing professor, you must know or be able to tell us how this information travels because it's not something that everybody is tuned into. I mean, I know I'm tone deaf when it comes to a brand of sunglasses.
So what circles do I have to run in or what magazines do I have to read in order to be sensitized to the differences? OLSON: Well, it — a lot of those are also magazines and all kinds of media channels that are addressing younger people. Certainly a lot of online social networking has made some of the stuff even more popular. If you're not reading fashion magazines, if you're not reading entertainment magazines you probably won't be as aware of it.
You're not going to find designer sunglasses in Popular Mechanics. But if you are in that social milieu believe me, you will know. An interesting thing that we've discovered is that the people will — they know they're going to lose them or they're going to break them, sit on them or something, and so if they see another pair that they kind of like and they can afford it, they'll sometimes have a pair waiting in the wings in the event that they lose one.
But the pair that you've got will last for awhile. Again, it's kind of like your business card or your calling card. Are there some other ones that are similar to the sunglasses that are actually being distributed to different outlets at wildly different prices but coming off the same line?
I think sunglasses are probably the most definitive in terms of really, really low manufacturing cost and extremely varied. Certainly, you can look at shoes, you can look at a lot of just designer clothes and tee shirts.
There, there can be a fairly large range. But few of them have quite as much of a spread in terms of what the price is as sunglasses do. Do you think that this is strictly a late 20th century phenomenon, this desire to own this fashionable item no matter what the markup?
Or does the market eventually have some logic to it and there become more price competition and does this shake out in a different way? OLSON: Well, it'd be interesting to see what sort of the transparency of the internet, what affect that has on, you know, the cost of things because, increasingly, we can kind of go online and find out what things are worth, how much people will pay, how much it costs to manufacture.
But, overall, it is something that especially younger people and Californians, to a large extent, are very aware of what brands are and what you're wearing and I don't think it's going to go away completely. It may shift categories from time to time but probably for the last years, there's always been some product category that people are very interested in what the particular brand is. That they're paying an extraordinary profit to somebody that — that it's really more important to own that brand than it is to be economically wise?
I think there — It's kind of interesting because there's some product categories where people are very price competitive. That's essentially what we teach. Sometimes I'm kind of embarrassed by the fact that this is actually really good marketing if they can produce a product for that low of a price and people are willing to pay it. In certain product categories, they simply will pay it. It's always interesting when I'm teaching pricing theory in class and we go through the whole pricing mechanism and then I reveal to them this is the price for sunglasses, and you can sort of see people's — students' faces.
They're just kind of shocked. And then there's almost a sort of denial. They kind of wipe it out of their mind like, but I really like my sunglasses, I don't — I don't want to know this. I really don't care. And to a large degree, that's good marketing.
Or you can go to an optician and you can buy a pair that clearly have more heft to them. Or are you saying that despite the quality differences, the price is still outrageously different than the manufacturing cost? There is some difference and when we say that, short of basically—and this is one of the people who owned a factory, a sunglass factory in China, said to me, unless there's gold, silver or they're made out of real tortoiseshell, basically none of them cost more than three dollars to make.
Those have a higher margin but most of them are still really inexpensive. How do they apply this inelastic price theory to the rest of their career, to selling automobiles or houses or some other consumer good? You understood there was pricing elasticity. Actually, one of the things that we try to teach them is what is price sensitivity? And I always say to them, for instance, how price sensitive are you to a textbook?
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